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The Real Cost of Owning and Operating a Private Jet

The Real Cost of Owning and Operating a Private Jet

The allure of private jet ownership is undeniable, offering unparalleled convenience and comfortability. For many, being able to invest in a private jet represents the pinnacle of success and freedom in travel.

However, the actual financial implications of private jet ownership extend far beyond the initial purchase price. When considering your first jet purchase, you want to consider the costs of owning and operating the aircraft so you know exactly what to expect.

How Much Does It Cost to Buy a Private Jet?

The most apparent cost of buying a plane is the purchase price, which varies depending on the aircraft’s size and capabilities.

  • Very light jets: These entry-level private jets, such as the Embraer Phenom or Cessna Citation Mustang, typically start around $3 million. They’re ideal for short trips and can accommodate four to six passengers.
  • Light jets: With prices ranging from $4 million to $8 million, light jets like the Cessna Citation CJ3+ or Embraer Phenom 300 offer increased range and passenger capacity, making them suitable for regional travel.
  • Midsize jets: Priced between $9 million to $20 million, midsize jets such as the Cessna Citation XLS+ or Bombardier Challenger 350 provide transcontinental range and enhanced comfort for 5 to 10 passengers.
  • Super-midsize jets: These aircraft, including the Gulfstream G280 or Dassault Falcon 2000S, range from $20 to $25 million. They offer an intercontinental range and lavish amenities for 8 to 12 passengers.
  • Heavy jets: At the top end of the market, heavy jets like the Gulfstream G650 or Bombardier Global 7500 can cost $35 million to over $70 million. These aircraft have a global range and can come with extravagant features, accommodating up to 19 passengers in total comfort.

New vs. Used Private Jets

Opting for a pre-owned aircraft can significantly reduce the initial cost, with used jets typically costing 20% to 50% less than new models. However, buying a pre-owned jet comes with additional hidden costs. Older aircraft may require more frequent repairs and component replacements. They may consume more fuel and need costly upgrades and modifications to meet current navigation, communication, and regulatory standards.

Financing

Financing a private jet usually requires a 10% to 20% down payment, with the remainder financed for up to 20 years. Interest rates for aircraft loans range from 6% to 8% for well-qualified buyers, adding substantially to the total expense of ownership over time.

Costs of Owning and Operating a Private Jet

How much does it cost to own a private jet? Beyond the costs of purchasing a private jet, owners must invest in ownership and operation costs. These expenses typically include:

1. Aircraft Insurance

Private jet insurance costs typically range from 1% to 3% of the aircraft’s value annually. For a $20 million jet, this translates to $200,000 to $600,000 per year. Factors affecting premiums include:

  • Aircraft value and type
  • Intended use (personal, charter, or corporate)
  • Pilot experience and training
  • Coverage limits and deductibles
  • Claims history
  • Operating area (domestic or international)

2. Hangar or Parking Fees

Hangar fees for private jets can be substantial, especially in prime locations or major metropolitan areas. Costs vary widely based on location, aircraft size, and facility amenities, generally starting from $30,000 and going up to over $200,000 annually.

3. Regulatory Compliance Fees

Compliance with aviation regulations incurs ongoing costs, including:

  • Aircraft registration fees
  • Airworthiness certifications
  • Annual inspections
  • Pilot medical examinations and license renewals
  • Compliance with noise and emissions regulations
  • International permits and overflight rights

These fees can accumulate to tens of thousands of dollars annually, especially for aircraft operating internationally.

4. Tax Considerations

The tax implications of owning a private jet can be complex and significant. Depending on how the aircraft is used, owners may benefit from depreciation deductions, which can offset some ownership costs. However, personal use of the aircraft may result in taxable fringe benefits.

Sales and use taxes on the initial purchase can be substantial, sometimes reaching millions of dollars for larger jets. Owners must also navigate federal excise taxes on flights, property taxes in some jurisdictions, and potential international tax issues.

5. Aircraft Management

Many private jet owners opt for professional management services to handle the complexities of aircraft operations. Aircraft management services often include fleet insurance, fuel, labor, and parts discounts, as well as offsetting ownership costs with charter revenue. These services typically charge 10% to 15% of the aircraft’s annual operating cost, amounting to hundreds of thousands of dollars for heavy jets.

6. Fuel Costs

Fuel is one of the largest variable expenses in aircraft operation. Consumption rates vary widely based on aircraft size, current fuel costs, and flight profile. A midsize jet might burn 200 gallons an hour, costing $520 to $600 to refuel. For frequent flyers, annual fuel costs can easily exceed $1 million.

7. Crew Expenses

Crew and pilot salaries for private jets range from $85,000 to $300,000 per year, per person, depending on experience and aircraft type. Many jets require two pilots and additional crew members, like cabin attendants.

Working with a private jet management company like Latitude 33 Aviation allows access to a pilot pool, potentially reducing costs compared to maintaining a dedicated crew.

8. Aircraft Maintenance and Repair

Annual maintenance costs for private jets typically range from 5% to 10% of the aircraft’s value. Standard costs include routine inspections, component replacements, and unexpected repairs. Additional costs include cleaning, de-icing, and scheduled major inspections, which can exceed $1 million for large jets.

9. Operational Costs

Every flight incurs additional expenses covered under the flight’s operational budget. These include fees for landing, handling, navigation, and catering. When it comes to navigation fees, some countries require a fee to fly through their airspace. These fees show up like taxes on landing fee invoices.

10. Administrative and Legal Fees

Ongoing legal and administrative support for contract management, insurance policy management, financial reporting, tax planning, and regulatory compliance can cost several thousand dollars annually. These fees depend on the complexity of the operation and the extent of services required.

11. Aircraft Depreciation

While not a direct out-of-pocket expense, depreciation rates for private aircraft significantly impact the total cost of ownership. Jets typically depreciate 10% to 15% in the first year and 5% to 10% annually thereafter. Depreciation affects resale value and has tax implications.

12. Upgrades

Aircraft may require upgrades, especially when they’re bought pre-owned or need upgrades to comply with evolving regulations. Avionics updates, cabin refurbishments, and performance enhancements can cost millions over the aircraft’s lifetime.

How to Reduce Jet Ownership Costs

Alternative options exist for those seeking the benefits of private aviation without the full responsibility of ownership. You can reduce jet ownership costs by doing the following:

Chartering a Private Jet

Chartering a private jet may be the most cost-effective option for those who travel infrequently. It provides the luxury and convenience of private jet travel without the fixed ownership costs. The benefits of chartering include flexibility, privacy, security, access to various aircraft types, and no long-term financial commitment.

Fractional Jet Ownership

Fractional ownership offers a middle ground between full ownership and chartering. Buyers purchase a share of an aircraft and become one of many owners. Fraction jet ownership may provide more consistent aircraft access than chartering, with lower upfront and fixed costs than full ownership.

Enjoy Private Travel With Latitude 33 Aviation

Owning and operating a private jet comes with many upfront and secondary costs. Understanding these costs can help you make an informed decision when purchasing your private jet. For many, alternatives like chartering or fractional ownership provide a more balanced approach to private aviation.

Latitude 33 Aviation offers expert guidance and premium solutions across all of these options. As a leader in private jet charter, executive jet management, and aircraft sales, we provide unmatched ultra-tailored services and premium aircraft solutions. Contact us today to explore how we can tailor a private aviation solution to your needs.

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What Is It Like to Fly Private: The Private Jet Onboard Experience

What Is It Like to Fly Private: The Private Jet Onboard Experience

An increasing number of travelers are choosing to fly private — and it’s easy to see why. Private aviation offers a convenient, luxurious flying experience, which many people value.

You may be curious about the onboard private jet experience. Our guide will provide a detailed overview of private jet travel so you know what to expect from the moment you step on board. 

The Advantages of Flying Private 

Whether you’re traveling for business or pleasure, you have several flight options available. Here are some of the top reasons to fly private: 

  • Convenience: Travelers can set their own schedules and choose the most convenient airport from which to fly. This reduces the travel time to the airport and eliminates endless waiting at gates and terminals.
  • Privacy: You can truly relax and get comfortable on a private jet since you’re surrounded by the people you choose to bring on board. You can talk and work freely without worrying about invasion of privacy.
  • Productivity: Without the distractions of other passengers, you can work in peace and may get more work done than you would on a commercial flight.
  • Luxury: You can complete work tasks, talk to fellow passengers, and sleep in the spacious cabin. You can also use the ample space to store your personal and work items. 
  • Affordability: By taking advantage of special one-way flights, you can often experience all the benefits of private aviation at an affordable price, especially if you’re flying with a group.

The list of advantages stretches even further since many aspects of a charter flight can be customized to fit your needs and wants.

Amenities on Private Jets

The main reason people fly private is the freedom it offers. You can customize everything from the flight menu to the interior of the aircraft to accommodate your unique needs. 

Most people are familiar with commercial air travel, including the rigid schedules, potential delays, cramped seating, and many other headaches that come with it. Those considering the private jet lifestyle may be excited about the benefits of a customized flight. Beyond the benefits, novice flyers may still have questions about what it is like to fly private. The following sections detail answers to some of the commonly asked questions about private jet travel.

How Does Flying Private Work?

Individuals or corporations schedule private flights via a charter company. Many charter companies have their own aircraft, while others rent the aircraft. Some companies that rent aircraft manage the aircraft for the owner, facilitate bookings, and ultimately give the owner a lease back. You can charter private flights to fit your schedule — unlike one-way flights, which rely on predetermined routes. One-way flights are those that have passengers on the way to a destination but not on the return journey. In some cases, customers can book a flight on a one-way flight for a discounted price. However, finding a one-way flight that fits all your travel criteria — such as your desired date, time, and location — is nearly impossible if you are doing the research alone. Finding the perfect one-way flight that fits your itinerary is easy if you work with an operator or broker.

You can schedule private flights as early as months ahead or as late as 24 hours before departure. Specifying your departure time allows you to plan your future trip or book a flight for the same day in emergencies. No ticket is necessary for private flights since you’ll get an email itinerary from the charter company. This itinerary also includes information about the flight crew and pilots.

While private jets are extremely convenient and you can book them at short notice, there are some time limitations. Private flights need time to prepare, so it’s unlikely you can get a flight within minutes. Depending on the aircraft’s location, it may be at least a day before you can board and take off. Additionally, it may take longer to give the plane and flight crew enough time to prepare the aircraft for safe flying. 

Are Private Jets Faster Than Commercial Jets?

Depending on the aircraft and route, private jets typically travel faster than commercial aircraft. They are also afforded many time-saving privileges that shorten the overall length of the journey.

Private jets can fly out of almost any airport, big or small. Often, smaller airports that aren’t major hubs are more cost-effective. There are also many general aviation airports from which only chartered jets can fly, so passengers can choose the one closest to them and save time commuting. Once at the airport, you move from the terminal to the cabin quickly and take off soon after. Without needing to navigate giant, crowded runways and large numbers of passengers, private jets often end up in the air sooner than commercial jets.

Private jets also tend to fly higher than commercial jets. A higher altitude reduces the chances of dealing with air traffic and bad weather, both of which reduce the amount of time it takes to arrive at the destination.

One of the pros of flying private is the passenger can have more input about the flight — this includes the routes. Commercial airlines often cannot take a direct route, but private jets are not bound to the rules and regulations of large airlines and airports. If you want to get to your destination quicker, request a direct route. Similarly, you can request an indirect route if you want to enjoy a little extra time on the plane and enjoy the scenery longer.

Are Private Jets Safe?

Private jets are just as safe as commercial jets. The Federal Aviation Administration (FAA) outlines safety rules for both commercial and private jets. Specifically, all companies must ensure the aircraft is well maintained, inform passengers about safety procedures, and train knowledgeable pilots and staff.

The Transportation Security Administration (TSA) also has specific recommendations for fixed-base operators (FBO) — that is, the places from which many charter jets fly. TSA offers recommendations for pilots, crew, and aircraft mechanisms.

On top of these regulations, charter companies have their own ways of vetting staff and crew to ensure clients receive the best service. When researching a charter company, it’s a good idea to inquire about the experience of the pilots, particularly how many hours they’ve flown in the specific aircraft you’ll be using. You can also find out how the company vets its crew. It’s likely the company will be more than happy to explain how they are taking steps to ensure a safe and comfortable flight for you.

In addition, you can check the charter company’s ARGUS rating. ARGUS is an independent rating system for private jet operators that aims to help charter companies adhere to an internationally recognized standard. Companies that boast an ARGUS Platinum rating, like Latitude 33 Aviation, indicate to passengers and potential clients that they take safety very seriously.

Flying privately typically means you don’t need to travel with dozens of strangers. Passengers on a private jet often know each other and can enjoy time together during the flight.

Do Passengers on Private Flights Go Through TSA?

Yes, passengers aboard private jets go through security. However, removing shoes or separating liquids isn’t necessary — in fact, private charter jets enable you to carry greater liquid quantities. You can bring full-sized bottles of your cosmetics and shampoo, as well as sealed or unsealed bottles of alcohol or other beverages. Because of this, private jet security for passengers is often faster.

Instead of normal airport security protocol, passengers are searched at the terminal shortly before boarding the aircraft. Charter jets carrying 61 passengers or more must screen passengers and luggage before boarding. The requirements are different for light private jets, which typically seat between four and eight people. These jets are exempt from conducting the same inspection as commercial flight passengers.

What Can You Bring on Charter Jets?

Charter jet flights allow more freedom with luggage weight allowances. However, the size of the aircraft could impact how much baggage will fit on board. Since the baggage will be in the cabin with passengers, it needs to be able to fit in the space without blocking passageways. Otherwise, you can bring whatever you like on a charter jet. 

Pets are welcome aboard a charter flight and can keep you company in the cabin. Like with commercial flights, you need to make sure your pet is up to date on required vaccinations, and you are responsible for obtaining any required documentation.

For international flights, you will need to make sure you have the appropriate documentation and meet the requirements of the arrival country. This can include getting a separate visa for your pet.

Can Private Jets Land Anywhere?

The short answer is yes, private charter jets have the privilege of landing at any airport in the country. It’s best to discuss your options with your aviation broker to see which airport is convenient and within your budget.

There may be fewer airports available for landing internationally. Charter jets must follow the rules and regulations of foreign countries, and the charter company may need to obtain permission to land at an international airport.

Can You Use Electronics on a Private Jet?

One of the pros of flying private is the opportunity to be more productive than you could on a commercial flight — even in first class. On private jets, you can bring your laptop, tablet, and phone and get work done in peace and comfort. Many private jets also offer Wi-Fi. If you need the internet to work or you plan to spend the flight browsing the web, you’ll need to request an aircraft with Wi-Fi capabilities.

While you can bring and use your electronics on a private jet, the Federal Communications Commission requires all passengers to switch electronics like telephones and tablets onto airplane mode while the aircraft is flying. This is especially necessary during takeoff and landing to ensure there is no interference with the aircraft’s navigation systems. The FAA is a little more lenient on this and suggests that electronics can be used during the flight if the aircraft crew deems they will not interfere with navigation or communication systems.

These regulations only apply to electronics that may interfere with communication systems, which means electronics like pacemakers, electric shavers, and portable recorders are exempt and can be used throughout the flight.

Do You Need a Passport or Visa on a Private Jet Flight?

Most charter jet flights are domestic, so a passport is usually not necessary. However, if you are planning to charter a jet to an international city, the immigration laws of that country still apply. You will be responsible for bringing your passport and visa to ensure entry.

Travel documentation also applies to any children or pets who may be traveling with you. It’s best to double-check the immigration requirements of your destination country and make sure you have all the appropriate paperwork ahead of time. This is especially crucial when it comes to visas since many of them require an application and take several weeks for approval.

When traveling on a private charter jet, customs and immigration are generally much quicker for many of the same reasons that security is quicker. The reduced number of passengers and the special terminal where charter jets land means officials can check and stamp in minutes.

Is Food Served on Private Flights?

Food can be served on private flights if the passengers request it. The perk of charter flights is you’re not limited to the same airplane food you’re likely to get on commercial flights. Instead, passengers can request almost any meal they want. More freedom allows passengers with strict dietary requirements to choose a meal they can enjoy. 

Because private flights tend to be shorter than commercial ones, many passengers request simpler meals — like trays of fruits and vegetables or selections of cheeses that are easy to eat and share without reheating. However, requesting specific meals from specific restaurants is also a possibility if you desire.

The restaurant will need to pack food orders in a way that will stay fresh and allow for reheating on the plane. Some private jets have microwaves on board, while others have reheating ovens, so the packaging must be compatible with both. In addition, some restaurants decline to cater to private jets because their food will need warming up, impacting the quality.

Other considerations for private jet food are ease of eating and aroma. It’s best to avoid pungent foods, as the aroma will remain in the cabin until the aircraft lands and the crew opens the doors. It’s also a good idea to choose foods that are convenient to eat so you can reduce messes.

Regardless of what you want on the flight, there’s a good chance the charter company will oblige you. You should be aware you’ll be paying for the food itself in addition to the logistics of getting it to you. For example, if you want a specific meal from a restaurant, the meal price would include the cost of the food, as well as the gas and time the charter company uses to drive there and pick it up. 

Are Seat Belts Still Necessary on Private Jets?

The FAA requires seat belts and emergency protocols, so even private jet passengers need to wear seat belts during takeoff, landing, and any other time the private jet crew deems it necessary. FAA regulations state that the crew must brief every passenger on board on how to properly lock and unlock their seat belt or seat harness before the aircraft can take off. 

What Are the Toilets Like on Private Jets?

Private jet interiors vary in size, so some smaller jets don’t have bathrooms at all. This isn’t as much of a problem, considering many charter jet flights are just a few hours long. Passengers are simply advised to use the facilities at the FBO or at their destination.

Jets with toilets onboard have accommodations that range from luxurious and elegant to the bare minimum. Smaller jets may have a toilet behind a curtain. Others may have a standard bathroom similar to those on commercial planes but a little more enclosed — making them potentially uncomfortable for people who are bigger or taller than average.

A fully enclosed bathroom on a private jet usually includes a toilet, a sink, and a vanity mirror. These bathrooms usually have folding or sliding doors to make for easier access.

The bathroom facilities on a private jet vary by the model of the aircraft. It’s always a good idea to double-check whether a toilet is one of the included amenities and, if so, what sort of toilet it is. Even if your jet has a toilet on board, it may not be the most comfortable option, and you may opt to use the facilities at the FBO prior to takeoff instead.

Are the Seats Comfortable on Private Jets?

One of the greatest benefits of private charter jets is the luxury and comfort they provide. Private jets offer additional legroom and reclining space — even more than first-class commercial seats — mostly because private jets typically transport 10 or fewer people. With fewer passengers, you have more space to spread out, and this applies both to your body as well as your belongings, such as computers.

Some private jet models are even equipped with sofas or beds, allowing for ultimate comfort and the option to change positions with ease.

Experience the Luxury of Charter Jet Flights With Latitude 33 Aviation

With charter aircraft located throughout the nation, Latitude 33 Aviation is prepared to charter your next flight. We’re the only private jet operator in San Diego with an ARGUS Platinum safety rating, and we set the standard for private air travel. Our expert crew is available to answer all your questions about your next custom flight.

Get in touch with our concierge charter department by calling 864.660.0310. You can also request a quote today.

 

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Private Aviation Trends for 2024

Private Aviation Trends for 2024

While the COVID-19 pandemic may still present some challenges to air travel, the effects in 2024 are significantly less severe. The private aviation industry is now shifting its focus to new areas of growth, namely green initiatives, on-demand flights, and travel to remote destinations. These trends will set a precedent for 2024 as many regular commercial and private flyers continue their regular aviation routes.

If you’re interested in flying private, you may want to know more about how these trends impact current aviation processes. Learn how air travel trends have changed since the pandemic and how these shifts could affect the private jet market.

The Future of Private Jet Travel in 2024

The attractiveness of private jet travel has led to many private jet charter industry changes. These changes have affected both private jet owners and charter clients. Many private jet owners have invested more in fuel-efficient aircraft and upgraded digital technology. Those in the private aviation industry also have seen more first-time flyers and clients traveling with their pets and children.

In 2020, many travelers prized private jets for their privacy and ability to reduce contact with other flyers. In 2024, this trend will continue, as private aviation allows for small flight capacities. In addition to privacy, there are many evergreen benefits that private jet travel customers can harness. For example, private and corporate aviation companies provide a diverse set of clients, from corporate workers to families, with faster travel and a more luxurious experience.

If you are interested in the private aviation market, here are some of the top private jet trends expected for the rest of 2024.

1. Flying On-Demand

An emerging trend in 2024 is on-demand private jet services. By requesting a private flight from a private jet charter, travelers enjoy enhanced flexibility without the costs and responsibilities of owning their own jet.

The concept of on-demand flights is similar to ride-booking services. A private jet charter company will feature a range finder tool on its website or app, allowing the customer to select their starting location and compare aircraft types to find the best fit. Then, they can contact the company and quickly set up their charter details.

Similarly, empty-leg charter flights are becoming a more popular choice, allowing fliers to find a specific route that suits their needs. In some cases, they can hop on the flight in just a few hours from booking it.

2. Alternative Private Aircraft Options

In the past, flying private meant traveling via a jet. While jets are still the most popular option, there are now several other private aircraft types available, making this kind of travel more convenient and cost-effective than ever before. For example, those flying private might charter or invest in:

  • Turboprops: These mid-sized aircraft use a gas turbine engine to propel the propeller. They are slightly slower than traditional jet engines yet more fuel efficient.
  • Very light jets: While these jets have slightly smaller engines than conventional jet engines, they are an increasingly popular choice due to their speed and fuel efficiency.
  • Light jets: These aircraft offer the best of both worlds — increased space and fuel efficiency. As most models accommodate up to nine passengers, they’re an economic choice for flying small corporate teams to international head offices.

3. More First-Time Flyers

Since there’s a chance to bring in flyers who aren’t used to flying private, the private jet charter industry will continue to see greater marketing efforts geared toward these potential customers. This new customer base comes from those who regularly fly first-class or business class. While previous marketing efforts focused on the luxurious experience and faster flights, operators are now appealing to potential flyers by continuing to highlight the increased safety and hygiene of private jets.

In addition to safety, the private jet industry can focus on the convenience of the boarding process. Instead of waiting in lines, most passengers drive right up alongside their private jet charter and board the aircraft upon arrival.  As the jet is waiting on the passenger, it can usually depart soon after they have boarded. Otherwise, flyers can wait at private facilities with fast Wi-Fi, workstations, and refreshments, so they can make the most of their time.

4. Use of Digital Technology

Corporate aviation has been implementing more advanced digital technology in their facilities and private jets for a while now to improve the experience of flyers. For example, digital tech like in-flight Wi-Fi is quite popular as it allows passengers to do work or unwind during the flight. While the increase of digitization may have been introduced out of safety concerns, it remains because of its enhanced convenience. Reducing the number of touchpoints enables passengers to breeze through key steps, like placing a charter flight, checking in, paying, boarding, and disembarking.

To attract flyers and give them more peace of mind while flying, it’s likely the private jet industry will see an increase in a few key pieces of digital technology. By providing passengers with real-time updates about their flight and the conditions at their destination, companies deliver a better user experience. In addition, companies can make the buying process easier and safer in their facilities and on jets through the use of technology with contactless payment options.

5. More Routes to Eliminate Connecting Flights

Passengers catching connecting flights need to pass through terminals, adding additional time to a trip. Private operators have greater flexibility in their ability to reduce connecting flights, helping to make the travel experience shorter and easier.

While commercial flights often need connecting flights to facilitate the needs of thousands of passengers, private aircraft can fly into smaller airports in remote locations that commercial airlines may not be able to reach. This allows private aircraft to fly direct routes to a passenger’s destination of choice.

Private jet operators will continue to maximize their operations to increase flights to remote destinations. Operators can change their routes to reduce any need for stops or connecting flights. All of these offerings can appeal to people who regularly fly commercial but want to reduce their need for connecting flights.

6. Sustainable Aviation Fuels

Discussion of carbon emissions is often found across private jet charter news. In light of rising concerns surrounding climate change, sustainable aviation fuels (SAFs) have become more prevalent. Research by McKinsey found that the majority of consumers prefer buying from or working with companies that prioritize sustainability. Private jets employing SAFs can appeal to these greater demands for ethical and environmentally responsible products or services.

When compared to fossil jet fuels, experts see SAFs as a clean substitute. SAFs come from sustainable sources, unlike petroleum-based fossil fuels. Since these fuels offer a more environmentally friendly option than petroleum-based ones, airlines can use them to attract customers interested in sustainability and social responsibility. Customers with personal sustainability goals will be much more attracted to taking private jets running on SAFs rather than commercial flights fueled by petroleum.

Besides attracting flyers with sustainability concerns, operators that switch to SAF fuels in 2024 can stay ahead of potential regulations. As fossil fuels fall out of favor, commercial and private aircraft will face public pressure, and possibly regulation, concerning the use of fossil fuels. If an operator gets ahead of the curve now, they can set up the needed relationships with SAF companies to supply their fleet and avoid falling behind other forward-thinking businesses.

7. Younger Passengers and Pets

While some business aviation has slowed due to the reliance on remote meetings, leisure travel is in full swing. Families with children and pets are expected to continue to use charter flights throughout 2024 and beyond. Due to this trend, private jet operators have begun to offer greater accommodations for pets and children.

To appeal to families with small children, operators outfit their planes with booster seats and sleeping areas where a child can nap comfortably. Private jets also invest in on-board entertainment systems designed for children to help them stay occupied on a long flight. Additionally, many private jets also offer toys and books for children to play with or read while flying.

Forward-looking operators also store refreshments that are healthy and appropriate for children. Private jet staff should be trained to handle milk and baby food as well, storing it in appropriate locations that are easy for parents to access while on flight. Private jet travel can offer greater flexibility for parents who need to bring medications on board that might be subject to liquid limits and other restrictions on commercial flights.

8. Managing Costs

Operators and flyers in the private jet charter industry are both going to be looking for ways to manage rising costs. Limited capacity based on new charter clients entering the market and declining private aircraft manufacturing over several years has placed pressure on the overall availability of flight options.

Although costs have increased due to the low supply and high demand for private travel, flyers can take certain measures to manage the cost of their flight. Traveling on off-peak hours and picking up an empty-leg flight are just two ways travelers can reduce their costs on private flights.

Of course, private jet owners still have to deal with several costs related to the operation of their jets, such as fuel and insurance. To remain profitable and provide more affordable prices to customers, jet owners will need to source parts and maintenance services at a lower cost.

As a result, the industry will likely see jet owners searching out cost-efficient suppliers offering high-quality products and services. Brokers and aircraft managers can help set up affordable flights for their clients by helping them locate the right airports, supplies, and availability.

9. Additional Sanitation Efforts

The pandemic highlighted the need for stricter sanitation, and this trend has remained prevalent ever since. Private aviation companies want to keep their passengers safe and have placed a greater focus on sanitation regulations. By nature, private jets are much easier to keep clean, with fewer passengers to account for and more space to maintain social distancing while on board. Expect to see corporate aviation companies continue to showcase the ease of social distancing while on their flights.

Besides allowing passengers to fly only with their closest friends or family, private jet charter companies are likely to continue maintaining increased cleanliness standards inside the private aircraft, private terminals, and FBO (fixed-base operator) facilities. These strict sanitation regulations draw in customers seeking sanitary environments. For example, many private aviation companies employ specialized cleaning teams to sanitize high-traffic areas such as armrests, handrails and seatbelts. Reputable private charter companies will also use aviation-approved disinfectant products for all cleaning processes.

Intensive cleaning practices utilizing heavy-duty sanitizers were introduced in 2020 and have remained essential in 2024 to help mitigate the spread of germs and keep spaces as clean as possible.

How the Private Jet Industry Is Poised to Evolve

With all of the likely trends for the rest of 2024, the private jet industry is poised to undergo a significant evolution. Find out more about how the private aviation industry is uniquely equipped to handle the new priorities of clients:

  • Need for safety and security: While COVID-19 is no longer an immediate worry for flyers, the private aviation market has a great opportunity to continue to respond to these concerns by working on ways to deliver a more hygienic flying experience.
  • Desire for flexibility: The private aviation industry is all about flexibility, which is exactly what flyers want right now. With many professionals navigating tight schedules, travelers are looking to private aviation to fill that gap and accommodate their needs.
  • Demand for personal flying: While business jet market growth seems promising based on private jet industry statistics, the influx of private flyers on personal trips has increased. Due to the growth of new private flyers, operators may see greater demand from those on personal trips. These new flyers have different requests and concerns than business flyers, with private jets ready to meet their needs.
  • Change to necessity rather than luxury: Many flyers have started to see private jet travel as a necessity for convenient travel rather than solely a luxury experience. For the rest of 2024, we will likely see more passengers become interested in private aviation, as customers see it as a necessary expense to allow a better work-life balance and general time savings. Due to this shift, companies will continue to adjust their marketing efforts to promote the benefits of flying on a private jet.

Charter Your Next Flight With Latitude 33 Aviation

At Latitude 33, we’re prepared to offer all of our clients a luxurious and safe flying experience. As we operate the biggest and most cutting-edge fleet of light jets in the United States, we’re able to get you to your destination fast. We understand that time is everything for our clients, and our crews are trained to get you to your destination safely and efficiently. When flying with Latitude 33, you can expect the ultimate in comfort and privacy.

If you’re interested in investing in a personal private jet to reap the benefits of ownership, we often have several premium jets for sale. You are welcome to contact us directly to learn more about how we can assist you in your search.

Charter your next flight with Latitude 33 Aviation by requesting a quote. If you have any questions, please contact us, and our concierge charter department will be happy to speak with you about how we can accommodate your needs.

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Women’s History Month 2022

Women’s History Month 2022

The month of March signifies Women’s History Month. For the entire month, contributions of women to events in history are honored and celebrated. Specifically in aviation, women have made significant contributions since the very first flight in 1903. Despite gender restrictions, women prevailed to complete solo flights, break speed, endurance, and altitude records, and win air races against men. Latitude 33 Aviation recognizes all that women have achieved throughout history and encourages women to pursue a passionate career in aviation.

Significant Women in the History of Aviation

Bessie Coleman

Bessie Coleman was the first African American and the first person of native American descent to earn a pilot’s license. She was also the first American to obtain an international pilot’s license. Despite facing racial and gender biases, Coleman established her iconic reputation as “Queen Bess”.

Source: biography.com

Harriet Quimby

Harriet Quimby was the first American woman to obtain a pilot’s license making her the second licensed female pilot in the world. She was the first woman to fly an aircraft across the English Channel alone. Famously known for many feats in aviation, Quimby is an inspiration to many women in aviation.

Source: thisdayinaviation.com

Amelia Earhart

Amelia Earhart was the first woman to fly across the Atlantic Ocean, both as a passenger and as a solo pilot. She is the most famous and celebrated female American aviator. Earhart has encouraged women to reject constrictive social norms and pursue their passions, especially in the aviation industry.

Source: britannica.com
The Latitude Ladies

The Latitude 33 Aviation team consists of passionate and experienced people who love what they do and always look forward to facing new challenges. The women make up a significant and crucial part of the Latitude 33 Aviation team. Spread throughout every department of the company with a wide set of roles, the Latitude Ladies are essential to day-to-day operations and the company would not be where it is today without the hard work and dedication the women have brought to the team.

Managing one of the newest and largest fleets of light, midsize, and super-midsize jets in the U.S., Latitude 33 Aviation’s mission is to be the absolute best at what we do. Overseen by a highly-motivated leadership team, Latitude 33 Aviation delivers excellence in private jet charter services, aircraft management, and aircraft acquisition and sales services. If you’re looking to fulfill your passion for a career in aviation and want to be part of the Latitude 33 Aviation team, view all our currently available job positions and apply here.

Special thanks to the Latitude Ladies and all the hard work and achievements they have made!

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Latitude 33 Aviation Delivers Two Aircraft in One Week

Latitude 33 Aviation Delivers Two Aircraft in One Week

Latitude 33 Aviation delivers two aircraft phenom 300 and citation xls exterior
 

TWO DELIVERIES. ONE WEEK.

Welcome aboard the two latest aircraft to join our charter fleet – Cessna Citation XLS+ and Embraer Phenom 300
 

We are excited to announce the addition of two aircraft that were delivered in the same week. Anyone who is casually watching the private aircraft industry or fully engaged in the process of buying and selling private aircraft understands the vast amount of time and energy it takes to deliver an aircraft to a new owner, yet alone to two at the same time. Latitude 33 Aviation’s finely tuned global aircraft sales and acquisition team handles every aspect of the jet acquisition process, starting with a detailed market analysis and ending with aircraft home-base delivery.

The two aircraft to join our fleet are a 2017 Cessna Citation XLS+ and a 2013 Embraer Phenom 300. Both aircraft are based out of Latitude 33 Aviation’s headquarters at McClellan-Palomar Airport (KCRQ) in Carlsbad, CA and are currently available for charter.

 
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2017 CESSNA CITATION XLS+

 
 

The 2017 Cessna Citation XLS+ has a maximum range of 2,100 nautical miles and features seating for 8 passengers. With extra wide, full reclining leather seats, the cabin can transform from a workspace to a comfort lounge. The spacious interior allows for plenty of room for you and your passengers to move around the cabin with ease. This aircraft is Latitude 33 Aviation’s only midsize jet to be available for charter out of McClellan-Palomar Airport (KCRQ).

 

2013 EMBRAER PHENOM 300

 
 

The addition of the 2013 Phenom 300 makes this the fourth Phenom 300 currently under Latitude 33 Aviation’s management and the third based out of McClellan-Palomar Airport in Carlsbad, CA. The Embraer Phenom 300 has a range of 2,010 nautical miles and features seating for up to 8 people. The fit and finish of this aircraft is top notch with neutral cool tones and features forward divan seating.

 
Latitude 33 Aviation delivers two aircraft phenom 300 and citation xls exterior
 

FROM INQUIRY TO FINAL SIGNATURE

At Latitude 33 Aviation, we look at aircraft transactions from an operator’s point of view. We understand that value goes well beyond price and our experts know which details matter. The purchase of an aircraft is a complex process with many pitfalls. Our team achieves better financial results through superior valuations and in-depth oversight of the process. Latitude 33 provides the guidance and expertise to make aircraft acquisitions an enjoyable experience. No matter what stage of private aircraft ownership you’re in, our unsurpassed experience and knowledge of the marketplace make us the one true source for your private jet needs.

 
 
 
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Keep up to date with Latitude 33 Aviation news, fleet additions, and one-way empty leg flights.
 

Request A Quote

Request a quote for a private flight in our Cessna Citation XLS+ or Embraer Phenom 300, or choose from another aircraft from our charter fleet.
 

Sales and Acquisition Services

Learn more about Latitude 33 Aviation’s trusted sales and acquisition services.
 

Contact Us 24/7: 800.840.0310 or Charter@L33Jets.com

 
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How to Charter a Private Jet

How to Charter a Private Jet

Air travel is the quickest method of getting from point-A to point-B, but it doesn’t have to be a purely functional experience. Choosing to travel by private jet offers a wide spectrum of benefits. In short, a trip taken with a private jet can be enjoyable, relaxing, comfortable, and efficient. By flying on a private jet, you are ensuring your travel needs will be met at every turn. You will not need to navigate commercial airport traffic or hassle with security, and private jet services can also be personalized for your individual requirements.

The option of owning your own plane is certainly appealing and there are a few different ways you can pursue ownership. Fractional ownership, for example, is buying a share of a plane and does not require as much of a commitment as full ownership.

Chartering a plane is a great alternative to purchasing; it is simply making a reservation to use a jet for your private use. All of the same benefits of flying privately apply to private chartered flights and are quite attractive, but if you have never chartered your own jet before, it can seem a bit daunting. We will review here, in three steps, how to charter a private jet, hopefully simplifying the process for you.


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01. DETERMINE YOUR NEEDS FOR FLYING

Determining your needs for flying is the first step. This will help to determine what type of company to reach out to, what type of plane you need, and the way you will want to charter (this is addressed in Step 03). Clarifying your private jet needs is easily accomplished by asking yourself a series of questions. You can then relay your specific travel needs to the charter company.

  • Are you going to be traveling frequently for business, and will your destinations often change, or will you be consistently flying to the same few places?
  • Are you looking for a last-minute flight?
  • Are you looking for an international flight?
  • How many people are you flying with?
  • How much luggage will you be bringing and will you have specialty luggage such as skis or golf clubs? (Keep in mind that the range is shortened with more weight, so it may be advantageous to ship larger luggage items to your destination ahead of time.)
  • Do you need a bed to rest in, Wi-Fi, or a larger cabin to fully stand up in?

After you have determined your needs for flying, ask for a detailed quote that includes additional fees (cancellation, overnight, de-icing, taxes, etc.).

02. UNDERSTAND THE LINGO

If you have never flown private before, it helps to know the lingo/keywords the industry frequently uses. Some general keywords to become familiar with are “prop planes,” “turboprop planes,” and “light jets.” Turboprop planes are roomy with seats arranged like commercial business class, while turbojets will be six to eight seaters, fly faster than prop planes, and feel more like a jet. Light jets are sleeker, more streamlined, and better for slightly longer trips.

Some more details to be aware of as you search for the charter jet that meets your needs will be the number of seats and the travel range. Now, instead of learning every single manufacturer and aircraft type out there, you can simply learn the different sizes of aircraft to get a good idea of what you’ll need. Important terms to learn are the frequently used aircraft categories:

Latitude 33 Aviation - Turboprop Jet Icon
Turboprop
Latitude 33 Aviation - Light Jet Icon
LIGHT
Latitude 33 Aviation - Midsize Jet Icon
Midsize
Latitude 33 Aviation - Super-Midsize Jet Icon
Super Midsize
Latitude 33 Aviation - Heavy Jet Icon
Heavy

 

Latitude 33 Aviation offers a wide variety of aircraft located throughout the nation. It is important to remember, though, that each jet can be decorated and set up to its owner’s specifications, so you should expect some variety as you do your research.

SAFETY RATINGS

Based on the type of aircraft that fits the needs of your trip, safety becomes your next determining factor. Private jet travel is extremely safe, but not all companies invest in the same level of standards. A key differentiator between charter companies is their safety rating. Wyvern Consulting and Aviation Research Group International, Inc. (ARGUS) are two independent aviation safety organizations. The more reliable charter operators hold the Wyvern Wingman and ARGUS Platinum certifications. Latitude 33 Aviation is part of the top five percent of U.S. private jet charter operators, and the only one in San Diego, to achieve the stringent ARGUS Platinum safety rating. To view the operator registry and their safety ratings, please visit the ARGUS website.

All private jets are regulated by the FAA, which sets minimum standards for maintenance as well as pilots’ experience and training. The best charter operators go above and beyond to exceed those minimum standards. As you are narrowing your search, ask for the operator’s FAA Air Carrier Certificate and D085. A current Air Carrier Certificate proves the company is authorized by the FAA to offer private jets for charter to the public. If they cannot provide this certificate, they are either an illegal charter company or a broker working as a middleman – as a travel agent does with an airline. The D085 is a page from the company’s FAA-approved scope of operations. It lists each aircraft the company operates, with registration (tail) number and serial number. If they quote an aircraft not listed on their D085, they are acting as a broker and another company operates that aircraft. This is normal within industry practice but should be disclosed with the client so the client is able to view the certificate holder.

03. CHOOSE YOUR COMPANY

Once you’ve determined your needs for flying and understand a little more about the industry, you can start looking into different companies that specialize in various types of private jet charters. Here are five different ways you can charter a private jet:

CHARTER A PRIVATE JET WITH LATITUDE 33 AVIATION

Overall, chartering a private jet for pleasure or corporate travel can be a gratifying experience! Your enjoyment of air travel will certainly increase and through chartering a jet you have the opportunity to try various aircraft models, increasing both your familiarity with your preferences, as well as your confidence for future charter bookings. Latitude 33 Aviation’s charter department is available 24/7 for your custom flights and trips. Contact our concierge charter department at 1-800-840-0310.

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24/7: 800.840.0310

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How to Reduce Your Jet Ownership Costs

How to Reduce Your Jet Ownership Costs

How to Reduce Your Jet Ownership Costs

Whether you are traveling for business or personal leisure, owning a private jet can be one of the best investments you can make when you love to travel in luxury. If you’re unsure if owning a jet is right for you or if you’re looking to lower the overall expenses of your jet, there are several ways you can lessen your ownership costs and even make a profit. For example, many jet owners charter their jet when they are not using it or turn to an aircraft management service.

If you’re interested in reducing your jet ownership costs, here is a look at the differences between fixed and variable costs and some ways you can reduce those expenses.

Fixed vs. Variable Costs of Jet Ownership

You can divide jet ownership costs between variable costs and fixed costs. Variable costs are defined as expenses that are subject to change, while fixed costs stay the same over a specific period. By knowing the differences between these types of costs, you can better plan for the future and manage your overall expenses.

What Are the Fixed Costs of Owning a Private Jet?

What Are the Fixed Costs of Owning a Private Jet?

When you own a jet, you’ll have a few costs you know will stay the same over time. These costs can vary based on the jet’s size and type, but once you’ve agreed to the terms, these costs won’t be subject to change. Some of the fixed costs of owning a private jet include:

  • Capitalization costs: Your capitalization costs relate to the amount of money you have to pay to purchase or lease the aircraft, including the interest related to it.
  • Insurance costs: If you own a jet, you also have to purchase insurance to legally fly it. Your insurance expenses, such as liability and hull coverage, will come at a fixed rate.
  • Hangar: When you’re not using your jet, you’ll store it in a hangar. This hangar space will come at a fixed fee per month.
  • Management fee: Many private jet owners will hire a management team to handle various administrative services, such as accounting, record keeping, aircraft scheduling, maintenance coordination, and Federal Aviation Administration (FAA) compliance monitoring, among other tasks. These services will come with a set fee from the management company.
  • Flight crew: Your jet needs a crew to fly it, and you’ll have fixed costs related to hiring a company to screen and interview flight crew candidates. A hiring or management company will also conduct a background check on candidates before presenting them to you. Along with paying for the screening and hiring process, you’ll also have fixed expenses that account for a crew’s salaries, benefits, uniforms, drug testing, and communications.
  • Flight crew training: You may also have expenses from continuously training crew members. These training costs are fixed, as training is conducted annually. Flight crew training ensures your pilots are as well-trained as possible and updated on the latest aviation information.

What Are the Variable Costs of Owning a Private Jet?

In addition to the fixed costs of owning a private jet, there are also several variable expenses. These include:

  • Parts and maintenance: Since you can’t account for every repair or replacement part your private jet will need, any expenses incurred from maintenance or parts fall under variable expenses. You can usually hire an aircraft management company to facilitate repairs and replacement costs.
  • Fuel: The costs to fuel a private jet are some of the main variable expenses you’ll have to pay whenever you travel. The price per gallon can change based on market fluctuations and by the location where you’re buying fuel, with some jet owners choosing to negotiate an airport’s fuel price in advance to better plan for their coming trip’s expenses.
  • Crew meals, travel, and hotels: Whenever you fly, you’ll need to cover the changing costs of your crew’s travel expenses, such as their lodging and meals.
  • Landing and parking: Whenever your aircraft arrives at its destination, you’ll likely have to pay a parking and landing fee that varies based on the airport. Since airports can charge different fees, it’s a good idea to check the costs of landing fees in various airports before deciding on your route.
  • Oil and other operating materials: Your aircraft may need materials like oil, nitrogen, aviator’s oxygen, methanol, and TKS fluid for maintenance and proper operation. Since you can’t always predict when you’ll need these items, they’re considered to be variable costs.
  • Cleaning and upkeep: You can schedule regular cleanings, but your costs can vary at times due to the location of the cleaning service or the need for more in-depth cleanings. Depending on how often you use the aircraft, you may have to pay for more cleaning services to ensure your aircraft is sanitized and always looks its best.
  • Catering: Whenever you order catering for your flight, you’ll pay for the costs of it, with the expense varying based on the cater’s pricing and the type of options they provide.

Using Charter Revenue to Reduce Aircraft Ownership Costs

Using Charter Revenue to Reduce Aircraft Ownership Costs

With all of the fixed and variable costs related to jet ownership, you may want to reduce your ownership expenses. Many jet owners offset their annual operating costs through charter revenue. When you allow others to charter your jet, they’ll essentially rent your jet for a particular period and pay you whatever price you set. By chartering your jet, you can reduce your fixed costs significantly, such as your capitalization expenses, and even make a profit over time.

To charter your jet to other private flyers, you’ll need to define your scope of operation under the FAA’s 135 Air Carrier certificate. Applying for this certificate and having it approved will allow you to charter your jet to other flyers.

Below are some of the primary factors that influence the amount of revenue you can gain if you decide to use your jet for charter flights:

  • Age of aircraft: Newer aircraft tend to be more in demand than older aircraft. Due to the higher market demand for newer aircraft, a more recent model can often attract more flyers and increase your revenue as a result. Additionally, newer aircraft typically don’t have as many maintenance needs, resulting in lower variable costs for your jet.
  • Fixed and operation costs: Different aircraft come with different fixed and operational costs. These expenses can vary based on your jet’s make and model, with some aircraft featuring higher margins between their direct operating costs and the charter rate. Selecting an aircraft with fewer expenses related to private jet operating costs, such as fuel burn, maintenance, and engine expenses, can help you raise the profit you make per chartered flight.
  • Human capital: When you charter your flights, you can offset the costs of hiring pilots and crews for your personal flights. Instead of hiring individual crews per flight, you can end up hiring a two-person pilot team for around 350 hours a year. If you don’t plan to fly 350 hours on your own, chartering can help you reduce your human capital costs per flight by ensuring you get full use out of your crew and avoiding hiring new crews every flight.
  • Engine reserves: Typically, engine companies attribute engine reserves to hourly expenses, with many engine companies requiring jet owners to pay for a minimum annual dollar threshold. Even if you don’t fly enough to meet this annual dollar threshold, you’ll still have to pay for it. If you charter your jet, you can more easily meet this minimum and reduce your annual fixed costs as a result.

Should You Select an Aircraft Management Service When Chartering Your Aircraft?

Private jet owners can hire an aircraft management service to handle the chartering of their aircraft. When you hire an aircraft management service, you add your jet to a licensed charter fleet. Since an aircraft manager knows how to optimize your chartering services, you can raise your private jet chartering profits.

An aircraft management service partner will also often have the expertise and industry connections required to help you save on parts, maintenance, fuel, fleet insurance, and hangars. They’ll manage your flight crews and ensure they’re trained appropriately as well.

Aircraft management services can also manage the charter revenue process, reaching out to potential flyers and adding charters that work for your schedule. A great aircraft management partner will have accounting services available that track how much your charter revenue is offsetting your annual costs, too.

Overall, an aircraft management service can reduce costs, increase revenue, and take much of the responsibility of managing your aircraft off your hands.

Other Options to Save on Jet Ownership

Other Options to Save on Jet Ownership

In addition to using chartering revenue and an aircraft management service to lower your cost of jet ownership, you can also find a few other ways to reduce your overall expenses:

  • Co-ownership: One way to lower your costs is to co-own your jet with at least one other person. By co-owning your jet, you save at least half of your money on fixed costs and the initial purchase price. Keep in mind that you’ll have to iron out terms with any of the other co-owners under this model.
  • Fractional ownership: Through a fractional ownership program, a buyer can purchase shares in a jet. The size of the share you buy translates to the number of hours you can use the jet, helping you get the private jet experience without paying the full costs of ownership. Fractional ownership can be great for buyers who know they’ll only use a jet somewhere between 500 and 400 hours each year.
  • Cooperative ownership: Similiar to fractional ownership, a cooperative ownership agreement involves a cooperative owner buying a jet and then selling shares of the aircraft to one or more other flyers. Instead of having a fractional ownership program handle the management of the aircraft, the cooperative owner will be responsible for it. If you’re a cooperative owner, you can make money on your jet by charging members for shares, and you receive more control over the terms of the jet’s use compared to a co-ownership or fractional ownership model.
  • Leaseback agreements: In a leaseback agreement, you allow another organization to lease your aircraft from you. Leasing a private jet to others is often a good choice if you don’t fly your aircraft a lot and want to save money on your operating costs. If you choose this route, make sure the organization leasing your jet has terms that work for you.
  • Pick an affordable fixed-based operator (FBO): When you own a jet, choosing the right FBO can help you save costs as well. Since an FBO can handle your fueling, maintenance, parking, tie-down, and storage costs, finding the right FBO can help you keep expenses down. Some FBOs offer significant discounts if you sign up to use many of their services.

Should You Own or Charter a Private Jet?

If you’re deciding between owning a private jet or chartering it, the biggest consideration you’ll want to take into account is how often you plan to fly. If you’re not flying more than 200 hours, the costs of owning, operating, and maintaining a private may be too great to justify owning a jet outright. If you only plan to fly occasionally, a private jet charter can be a more financially savvy option, as you get all the luxury of private flying without the costs of owning the aircraft.

However, even if you plan to only fly occasionally, purchasing a private jet can still be a good choice. With all of the options you have to split costs and make revenue off a private jet, it can be an excellent investment opportunity. By chartering the flight to others, you can reduce your overall costs of owning the jet and potentially make a profit.

You might also want to consider the entry costs of purchasing a jet. A newer and more capable jet can come with higher costs that may not make sense for your needs. If you don’t want to pay for entry costs, then chartering a private jet is a great choice.

Buy a Private Jet or Book a Charter Flight With Latitude 33 Aviation Today

Buy a Private Jet or Book a Charter Flight With Latitude 33 Aviation Today

At Latitude 33 Aviation, we’re dedicated to helping our clients find the right private flying experience for their needs. We regularly charter flights for our clients, delivering a stress-free, luxurious flying experience.

We also have jet acquisition and jet brokerage services if you’re interested in purchasing an aircraft. If you already own a private jet, our aircraft management services can assist you with various administrative services and help you offset costs via charter revenue.

Take a moment to review our jet acquisition services today. If you’re interested in chartering a flight or have any questions, you can request a quote or contact us directly.

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What Is Fractional Jet Ownership?

What Is Fractional Jet Ownership?

Fractional jet ownership is perfect for many private flyers who want the luxury and convenience of owning a private jet but don’t want to pay for the full costs of sole private jet ownership. By joining a fractional jet ownership program, you can get the many benefits of private flying without the full expenses of purchasing an entire private aircraft. As a fractional aircraft owner, you can customize how much of the aircraft you own to match your private flying needs and spread costs among other owners.

If you’re interested in fractional jet ownership, learn more about how it works, its benefits, the costs associated with it, and information about when it’s right for you. You may also want to review the main documents required for fractional jet ownership and some popular alternatives to jet sharing.

How Fractional Jet Ownership Works

How Fractional Jet Ownership Works

Fractional jet ownership refers to a form of professionally managed aircraft co-ownership. When someone wants to participate in a fractional jet ownership program, they’ll purchase a share of the jet, giving them partial ownership over the aircraft.

This share gives them an allotted amount of occupied hours per year that they can use to fly the aircraft. The flying time usually ranges between 50 and 400 hours, and most fractional jet shares will come in a multiple of 1/16th.

When you enter into a jet sharing program, you’ll most likely need to sign an aircraft management agreement lasting for multiple years. You should also know that you may not use the plane you specifically own every time you fly. In fact, it’s possible you may not ever step foot in it. Instead, the company running your fractional jet program will usually have a fleet of similar aircraft available for use, bringing you the closest one as needed.

How Do Fractional Jet Shares Work?

If you want to understand fractional jet shares, you should first know that a fractional plane’s operating time is generally a total of 800 hours per year. Since a fractional jet has 800 hours available per year, an owner’s share will represent a fraction of that number. For example, a 1/16h share will translate to the owner receiving 50 hours of flying per year.

Other popular shares include a 1/8 share equal to 100 hours, a 1/4 share equal to 200 hours, and a 1/2 share equal to 400 hours. Usually, you won’t see shares less than 1/16, as anything under 50 hours usually doesn’t justify the cost. Overall, you can expect higher costs for shares that come with higher hours. Additionally, you may find fractional jet ownership shares that go by the number of days you plan to use the jet rather than hours.

Benefits of Fractional Jet Ownership

Benefits of Fractional Jet Ownership

Compared to full aircraft ownership, fractional jet ownership comes with several advantages that many flyers love. Some of the primary benefits of partial jet ownership include flexible availability, greater privacy, multiple jet options, and personalized investment opportunities. These advantages make fractional jet ownership an excellent travel solution for many flyers.

Here are some additional benefits of fractional jet ownership:

  • Flexible availability: When you’re a fractional jet owner, you usually have aircraft ready for you quickly. Most fractional providers can have an aircraft ready in only a few hours. If you need flights fast, fractional jet ownership can be a great choice.
  • More depreciation deductions: If you use your jet for business flights, you may be able to utilize depreciation deductions related to owning the jet that are not available when chartering. This ability to use depreciation deductions can give owners some tax benefits.
  • Multiple jet options: After purchasing a fractional jet share, you can often use multiple jets of the same type — even if the particular jet you own a share in is at another location while another owner uses it, you still have a jet available for you to fly on. Some fractional jet share programs also allow you to use different jets comparable in size and type to the jet you own fractional shares in.
  • Personalized investment opportunities: When you know you won’t need a personal jet year-round, you’ll love how customizable jet share programs are. You can choose various share options to purchase the number of hours you know you’ll need during the year, with some plans allowing you to bank unused hours over your contract’s length. This level of personalized investment allows you to see the benefits of jet ownership without the higher costs related to purchasing an entire jet.
  • Greater privacy: Flying on a private jet gives you the ultimate in privacy whenever you need to travel. Additionally, since the jet is registered under the fractional company’s name, your travel will stay out of the limelight, as your name won’t be attached to your flight activity on publically available data sources.
  • Reduced flying costs: Fractional jet ownership provides owners with the comfort, convenience, and time-savings of flying private without as many expenses related to owning a full jet. As a fractional jet owner, you won’t have to pay for an entire jet, and you’ll avoid paying the full costs associated with a jet’s services, maintenance, and crews. These reduced financial responsibilities make fractional jet ownership very cost-effective for many flyers.

What Are the Costs Associated With Fractional Jet Ownership?

While you’ll see reduced costs when you choose fractional jet ownership instead of full jet ownership, you’ll still have some expenses you should be aware of. Before you decide to purchase a share of a jet, it’s crucial to understand what costs you’ll be responsible for.

To give yourself more information on the expenses associated with jet sharing, review the main fractional jet ownership costs below:

1. Acquisition Cost

When you first purchase a share in a jet, you’ll have to pay an acquisition cost, otherwise known as a capital fee. These fees will be directly tied to how large your share in the jet is and the type of aircraft you’re purchasing.

For example, a share in a smaller jet will often cost less than a share in a larger one. You might find that a 1/16 share in a smaller jet may only cost a few hundred thousand dollars, while a 1/4 share in a larger business jet might come with a cost in the millions.

2. Monthly Management Fees

Management fees include fixed costs related to owning a jet, such as insurance, comprehensive pilot training, aircraft subscriptions, and administrative expenses. They also include paying for hangar space while the plane is not in use and is being stored.

As a partial jet owner, you won’t have to pay for the full amount of management fees related to owning an entire jet. The cost of your monthly management fees will come down to your share’s size. So, someone with a 1/4 share will pay more than an owner with a 1/16 share of the same jet.

3. Occupied Hourly Fee

Along with management fees and acquisition costs, you’ll also have to cover an occupied hourly fee. This fee includes costs related to in-flight catering, the crew’s wages, fuel, maintenance, and engine reserves. Essentially, the occupied hourly fee relates directly to any expenses incurred while using the jet. Since you may take shorter or longer trips and have different in-flight catering needs, these fees vary based on your particular requirements.

When Is Fractional Jet Ownership Right for You?

When Is Fractional Jet Ownership Right for You?

Knowing if jet ownership is right for you often comes down to how much you plan to use a jet per year. The general rule of thumb across the industry is that fractional jet ownership is only cost-effective if you use a jet at a minimum of 50 hours a year.

Essentially, using the jet less than 50 hours wouldn’t justify the jet’s cost, and it might be better for these types of private flyers to charter flights instead of purchasing shares. Of course, if you need to use a jet for more than 50 hours a year, fractional jet ownership is likely an excellent option.

You should also be comfortable with the jet type you purchase. Private flyers who often travel with different sized groups may want to avoid buying a fraction share, as the jet you purchase a share in may not have the capacity you need for larger groups. Fractional shares are often a better option for people who don’t plan to have much variance in the number of passengers they normally fly with.

How Do Fractional Jet Agreements Work?

When you enter into a fractional jet agreement, you’ll have a few documents you’ll need to sign and agree with.

1. Binder or Deposit Agreement

A binder agreement, or deposit agreement, refers to a provider’s document requiring a buyer to place a deposit before they hold the buyer’s share. A binder agreement guarantees the owner’s pricing won’t change, states a firm delivery date, and identifies the particular aircraft the buyer is purchasing a share in. The agreement should also let the buyer know when their deposit becomes nonrefundable.

2. Purchase Agreement

The purchase agreement is a document the buyer uses to purchase their fractional shares from a provider. This agreement covers the provider’s warranties and representations related to the aircraft’s condition and title. It also lays out how the provider will repurchase your share after the agreement, as well as terms and fees related to leaving your agreement early.

3. Master Dry Lease Exchange Agreement

A master dry lease exchange agreement dictates the relationship between the aircraft’s fractional owners. This agreement usually has every owner sign off on other owners using their aircraft. By signing this document, owners also receive the ability to use the provider’s fleet in place of the aircraft they own a share in.

4. Management Agreement

In this agreement, the buyer agrees that the provider will serve as their aircraft’s manager and fractional program’s administrator. The agreement covers how many hours the owner can fly, their flying costs, and when they can fly. These agreements can also stipulate how rollover hours work, the owner’s right to interchange, where owners can fly, and peak travel days when the owner will have more restrictions. Additionally, it will explain how the provider calculates flight time and how far in advance you have to reserve the aircraft.

Are There Alternatives to Fractional Jet Ownership?

For some buyers, fractional jet ownership isn’t right for their flying requirements. Luckily, buyers can choose from several alternatives that may fit their needs more closely. Find out more about the alternatives to fractional jet ownership below:

  • Purchasing a jet: If you fly frequently and don’t want any restrictions on your flying, purchasing a private jet is a great investment. When you own a private jet, you can fly as much as you’d like and change your schedule at any time. Many buyers also enjoy owning an entire jet, as it can be an investment opportunity. They can sell it back later and even rent it out to other flyers to make a profit.
  • Private jet leasing: When you’re not sure if you want to own a jet, a private jet lease is an excellent choice. With a lease, you essentially rent the aircraft for a specified period of time and sell it back to the leasing company at your contract’s end. Leasing a private jet can give you plenty of information about whether you want to eventually own a jet and help you make an informed buying decision. Private flyers also enjoy leasing because they can switch to another plane when their contract ends.
  • Jet cards: Another popular alternative to fractional jet ownership is purchasing a jet card. These cards allow you to buy a set number of flight hours in bulk, allowing you to save on costs compared to individually purchasing a flight every time you need a private jet. If you purchase a jet card, you’ll prepay for a number of jet flights, with the card’s terms guaranteeing availability and a fixed hourly rate. Hourly rates for jet cards are higher than fractional ownership, but they do not require as large of an upfront capital outlay.
  • Aircraft charters: When you only fly occasionally and don’t want any long-term commitments, chartering an aircraft is a great decision. Since an aircraft charter is only a one-time expense, aircraft charters don’t require you to place a large sum of money down up front, and you won’t pay ongoing fees. Additionally, aircraft charters allow you to choose various types of jets each time you fly, giving you the flexibility to select the right size and type of jet for your needs.

Explore Jet Chartering and Transaction Services From Latitude 33 Aviation

At Latitude 33 Aviation, we’re ready to give you the ultimate in private flying luxury. We regularly provide our buyers with jet acquisition and brokerage services, as well as extensive aircraft management and private jet charter services. We also have a premier aircraft fleet made up of light, midsize and heavy jets, with every charter aircraft option offering an upscale and lavish experience.

Request a quote to charter a private jet today. If you’re interested in owning a jet, please feel free to inquire about our sales services.

Explore Jet Chartering and Transaction Services From Latitude 33 Aviation

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Latitude 33 Aviation Celebrates 15-Year Anniversary

Latitude 33 Aviation Celebrates 15-Year Anniversary

Latitude 33 Aviation Celebrates 15-Year Anniversary with Owners sitting inside aircraft

The start of 2021 marked Latitude 33 Aviation’s 15-year anniversary.

With tremendous thanks to clients, aircraft owners, partners, and employees, Latitude 33 Aviation was able to reach this milestone and continue the trend of exponential growth year over year since its start in 2006.

As it currently stands, Latitude 33 Aviation has 38 aircraft under management, 20 of those are on Latitude 33’s charter certificate with more aircraft joining our fleet within the next few months.

Latitude 33 Aviation Celebrates 15-Year Anniversary with private event

THE FIRST TEN YEARS

Look back on the first ten years of Latitude 33 Aviation and how two owner-pilots with an intense passion for aviation came together to create a successful, industry-recognized private jet charter, management, and sales company that has grown to manage a wide fleet of aircraft across the nation.

See the accomplishments that were achieved during the first ten years and how Latitude 33 Aviation celebrated its success in 2017.

Watch the Celebration

OVER THE PAST FIVE YEARS

Over the past five years, Latitude 33 Aviation has continued to exceed expectations and meet company goals despite the many challenges the aviation industry faced with the COVID-19 pandemic. Here are some accomplishments over the past five years:

  • Operated over 50,000 flight hours
  • Completed aircraft sale and acquisition transactions approaching $400 million
  • Evolved fleet composition with the needs of clients to include 34 aircraft additions – 16 of those in the midsize, super-midsize, and heavy jet categories
  • Diversified fleet with additions of new aircraft types including Global 5000, Pilatus PC-24, Praetor 600, and Legacy 500
  • Hired 26 new employees and expanded operations to 4 new U.S. cities
  • Retained the highly coveted ARGUS Platinum safety rating by successfully completing two biennial onsite audits
  • Voted San Diego’s Best Air Charter for 2018, 2019, and 2021 by Ranch & Coast Magazine’s Readers’ Poll
  • Added several new regions of operation to include Hawaii, Central America, South America, Bermuda, and the Caribbean Sea
  • Accepted the first Bombardier customer aircraft fueled with sustainable aviation fuel (SAF)
  • Received the Los Angeles Friendly Flyer Award for the 6th consecutive year in a row

A WORD FROM THE PRESIDENT

When asked what he was most proud of over the past five years, Casey Miller, President & Owner of Latitude 33 Aviation, said, “The discipline we have as a company. We’ve been fortunate to experience significant growth over the last five years, but we have managed to keep our service at a high level. We’ve passed on several aircraft management opportunities that would have been profitable for the company but were not in line with our long-term strategy of continuing to provide a high touch service from the top down. As with every other industry, COVID had a major impact on our business. The business basically went to zero at the start of COVID, then immediately increasing to record levels. I’m incredibly proud of the way we have balanced the added business and workload, while not losing site of our core values.”

Latitude 33 Aviation Celebrates 15-Year Anniversary with Owner standing in front of aircraft

CLIENT TESTIMONIALS

“Our pilots were very professional, helpful, and friendly. They worked hard to ensure we were comfortable for the entire flight!”

– Charter client, San Diego

“Thanks again for your superior service. All the way around, Latitude 33 is the best I have seen in the private jet charter business. I’ve been around charter now for 25 years. Kudos to the whole team.”

– Charter client, Los Angeles

“Efficient, knowledgeable and professional. I trust the experts at Latitude 33 with all my aircraft management and aviation needs.”

– Private jet owner, San Diego

Read More Client Testimonials
Latitude 33 Aviation Celebrates 15-Year Anniversary with aircraft lined up on ramp

THANK YOU FROM LATITUDE 33 AVIATION

Latitude 33 Aviation, a private jet management, charter, and sales and acquisitions company, based at McClellan-Palomar Airport in Carlsbad, CA is an industry-recognized expert in delivering professional, full-service management programs while maintaining a safety, security, and customer service record that its clients can count on. Founded and run by current, professional pilots, Latitude 33’s leadership has the unique perspective of the private jet industry’s pulse from the front lines, not from behind a desk.

We manage one of the newest and largest fleets of light, midsize, super-midsize, and heavy jets in the United States. Our team of professionals specialize in creating private charter flights that make luxury travel your new standard, and they likewise assist with aircraft acquisition, management, and brokerage services in order to make aircraft ownership a smooth and stress-free process.

Thank you to everyone who has supported us over the past 15 years. We look forward to future flights!

Subscribe to Newsletter

Keep up to date with Latitude 33 Aviation news, fleet additions, and one-way empty leg flights.

Request A Quote

Request a quote for a private flight in one of our 20 aircraft on our charter fleet.

Meet the Team

Meet the team of professionals that have grown Latitude 33 Aviation into the successful company it is today.

Contact Us 24/7: 800.840.0310 or Charter@L33Jets.com

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A Latitude 33 Aviation 2015 Cessna model private jet side profile on the runway with a blue sky.

Meet the Latest Super-Mid Addition – 2015 Cessna Citation Sovereign+

Meet the Latest Super-Mid Addition – 2015 Cessna Citation Sovereign+

Latitude 33 Aviation Charter Fleet Addition 2015 Cessna Citation Sovereign+ Exterior
 

WELCOME ABOARD THE LATEST SUPER-MID ADDITION

Latitude 33 Aviation is proud to announce the addition of a 2015 Cessna Citation Sovereign+ to its charter fleet. This jet offers increased capacity in the super-midsize aircraft category and provides even more availability for true transcontinental flights while still being excellent on short-range performance. The powerful, range-enhancing winglets on the Sovereign+, combined with the powerful engines, allow the aircraft to whisk charter clients off to even more locations like The Bahamas, New York City, and Miami from its home base in Carlsbad, California. This state-of-the-art super-midsized aircraft will join Latitude 33 Aviation’s fleet of managed and chartered aircraft, bringing the total fleet size to over 30 aircraft, nine of them falling under the super-midsize category.

 
Latitude 33 Aviation Charter Fleet Addition 2015 Cessna Citation Sovereign+ Interior
 

ABOUT THE CESSNA CITATION SOVEREIGN+

The Citation Sovereign+ was designed with a maximum range of 3,200 nautical miles. At high-speed cruise, the Sovereign+ delivers a premium passenger experience featuring a completely restyled interior with more fluid cabinetry and enhanced LED lighting to brighten up the cabin. Optimizing cabin comfort for passengers and crew alike, the cabin volume for the Citation Sovereign+ is 571 cubic feet with a layout configuration that features comfortable seating for up to nine passengers. The aircraft’s wireless cabin management system equips each passenger with productive connectivity and entertainment through their personal electronic devices. Clarity cabin-management system integrates the cabin electrical system, avionics, and communications through a fiber-optic backbone. All this to ensure passengers will enjoy every nautical mile in luxurious comfort where the journey becomes as enjoyable as the destination.

 

FLY NONSTOP IN OUR 2015 CESSNA CITATION SOVEREIGN+

 
Latitude 33 Aviation Charter Fleet Addition 2015 Cessna Citation Sovereign+ New York
 

New York City

As a center of fashion, finance, creative expression, music, food, and entertainment, New York City is truly unique. Experience “the City that Never Sleeps” with a trip on our 2015 Cessna Citation Sovereign+.

 
Latitude 33 Aviation Charter Fleet Addition 2015 Cessna Citation Sovereign+ Bahamas
 

The Bahamas

Fly to the tropical islands of The Bahamas in our 2015 Citation Sovereign+ and explore the most beautiful destination in the Caribbean region. Spend the day on a luxurious beach or try out some fun water actives like snorkeling.

 
Latitude 33 Aviation Charter Fleet Addition 2015 Cessna Citation Sovereign+ Miami
 

Miami

Well-known for its glamorous beaches and beautiful sunny weather, Miami, Florida is the perfect vacation destination year-round. Start your Miami trip with a flight on our 2015 Cessna Citation Sovereign+

 
 
Latitude 33 Aviation Charter Fleet Addition 2015 Cessna Citation Sovereign+ Exterior
 

SUPER-MIDSIZE SOVEREIGN+ MEETS HIGH TRAVEL DEMAND

This aircraft is a welcomed addition, as Latitude 33 Aviation has seen massive growth in the demand to fly privately. This super-midsize aircraft enables Latitude 33 Aviation to supply that demand, fulfill more charter requests, offer more backup options for when travel plans changes, and reach more locations to service clients.

Solomon Short, Owner and Director of Operations at Latitude 33 Aviation, added, “The hourly price point of this aircraft is the perfect addition to the Latitude 33 Aviation fleet as it offers long range capabilities at a rate well below some of its competition. With the private jet travel industry seeing record demand and limited supply, the timely addition of this Sovereign+ allows Latitude 33 Aviation the ability to offer another industry leading solution to our charter customers.” From pre-arrival and in-flight amenities to one-of-a-kind destination experiences, Latitude 33 Aviation curates memorable and customized journeys for passengers. 

 
 

Subscribe to Newsletter

Keep up to date with Latitude 33 Aviation news, fleet additions, and one-way empty leg flights.
 

Request A Quote

Request a quote for a private flight in our 2015 Cessna Citation Sovereign+ or choose from another super-midsize aircraft from our charter fleet.
 

Sales and Acquisition Services

Learn more about Latitude 33 Aviation’s trusted sales and acquisition services.
 

Contact Us 24/7: 800.840.0310 or Charter@L33Jets.com

 
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