Private Jet Charters for Traveling
If you’re somebody who values their time and has the financial freedom to trade money for it, chartering a private jet is something to seriously consider when making your next travel arrangements. It’s a commonly held belief that chartering a private jet can be expensive and we agree, private jet charters can be expensive. However, there are many companies that specialize in optimizing charter routes to get the best deal possible. If you look up “private jet charters near me” you’ll find two types of companies:
- The first type is the kind that operates the aircraft as well as salaries its pilots.
- The second type is referred to as a private jet charter brokerage. Brokers do not solely use aircraft that they own and in many cases don’t operate or own any aircraft. Instead, brokers have access to many operators and aircraft fleets so there are many more options.
How Much do Private Jets Cost?
Whether you are getting a great deal on your private jet charter by working with a broker, considering fractional ownership, or are interested in the convenience provided by a private jet membership, there are costs to consider.
Chartering a private jet can range from as low as $2,000/hr to upwards of $12,000/hr. The reason for such a wide range is the variety of aircraft. Most types of aircraft at the lower end of the price range are single and multi-engine turbo prop aircraft. The most common turbo props are Pilatus Pc-12 and King Air C-90. These aircraft are best for short hop flights. Aircraft on the higher end of the price range are best for coast to coast or even international flights. These aircraft are also called Super-Mid, Heavy, and Ultra-Long-Range. The private jets in those categories are Bombardier Challenger’s (Super-Mid), Gulfstream G550 (Heavy). In the Ultra-Long-Range category you typically see Gulfstream G650 and Bombardier Global 6000/7000/Express.
Best Private Jet Charter Plan
There is no clear best way to fly privately. In fact, the best private jet charter is totally dependent on the person flying and their reason for doing so. Remember, the costs associated with the charter method can vary, so we should discuss the differences between the most common private charter methods a bit more.
Fractional ownership
The most common type of membership is fractional ownership. It provides a sense of security knowing you’ll have access to your aircraft wherever and whenever. Fractional ownership is a model that also works well if you’re looking to offset expenses. The charter operator can charter the aircraft out when not in service for any of its owners.
Typically, fractional ownership on aircraft buy-in is on a five-year contract basis. The cost of ownership can also include additional expenses such as salaries for pilots, maintenance, and management fees. However, in many cases the “ownership” expires once the contract is up, and the management company or charter company can sell the aircraft without your consent. This means that the ownership buy-in funds purchase the aircraft under the company’s name and not the names of those buying in.
It’s important to make sure that fractional ownership means ownership if you choose to go this way!
Block time
Block time memberships are popular with those that want to buy a set number of hours that they know they’ll fly. The purchasing process of block time is dependent upon the travel route, the number of flights annually, and the pricing is usually a set rate (subject to aircraft category/size).
When you purchase flight blocks, you have credits you redeem for each flight. That means there is so no additional payment each time you fly. The biggest drawback about block time is that you can end up paying for charters you never use.
Wholesale
Wholesale is a great option for those that travel privately, frequently. Brokers usually offer the these memberships with access to wholesale quotes. By working with a broker, you can see the benefit of having an industry expert on your side. Brokers are happy to pass on wholesale quotes to those belonging to a private jet membership such as the Volair Club for a monthly fee as low as $999/month! Wholesale memberships provide transparent quotes directly from the operator. This method is essential for maintaining integrity between the broker and its client.
Wholesaling is a relatively novel method that is growing fast in recent years. In fact, up until recently, only a small percentage of the population could access private charter flights. Wholesaling is responsible for making the transportation style much more accessible while still maintaining extremely strict safety and quality standards.
Important Private Jet Charter Considerations
You’ve realized that there are several options to consider when you decide to use a private jet charter. While cost is typically a factor in any buying decision, the reasons for a bigger price tag might be worthwhile – they might not. That’s why the reason you are flying privately can be more important than the cost itself. So, what should you consider?
- How often will you be flying?
- How much does the aircraft model matter to you?
- Are you mostly flying for business or leisure?
- How important is having a relationship with your jet broker or agent?
While purchasing an aircraft or a block of flight time can be useful in some cases, most private jet charter travelers agree that working with a broker is more than adequate while also being economical. You don’t have to worry about paying for flights you won’t use, and aircraft availability is typically the best in the industry.
WiseJets offers free private charter jet consultations to see if working with a broker is right for you. Simply call us at 317-397-0180
or send us an email. Either way, we hope your flight goes well!
