Buying your own private jet is a significant milestone and achievement. Whether you’ve decided to own your aircraft because you have far too many important business meetings outside of the San Diego, Los Angeles, and Southern California area and you need to save time, or because you simply don’t want to deal with the hassle of flying on commercial airlines ever again, a private jet means you are literally and figuratively above it all. There is no better way to minimize travel time, maximize productivity, arrive refreshed, and have ultimate control over your travel schedule than to purchase your own private jet. Of course, you want to make a wise financial investment, but there is a lot more to consider when buying an aircraft than the price tag.
Here are some of the more important factors you should consider when choosing the private jet that will be your oasis in the sky:
- Size — Bigger isn’t always better, but that is a preference that is entirely up to you. How many passengers will usually be flying with you? You might not have a need to travel around in an airliner-sized aircraft, but make sure the jet you buy feels comfortable to you. After all, you’re buying a jet because you don’t ever want to spend the flight between New York and L.A. with your knees pushed up against your chin.
- Range — How far will you regularly be traveling? What will be your most frequent destinations? Will you want to land at smaller, regional airports that are closer to your final destination than the major airports? It’s important to find a jet that can adequately handle all your travel needs.
- Features and luxury options — The sky is the limit when it comes to the options available in private jets. Will your personal jet come stocked with a wet bar and full entertainment package for leisure, or do you require satellite internet and phone service for business productivity? Even if you are not planning on doing much entertaining in the air, you will want to make sure you are as comfortable as you can be in the cabin.
- Crew — Depending on the size of your private jet and how you will be using it, larger aircraft may require a multi-person crew that includes several pilots, flight attendants, and mechanics, while smaller aircraft may be able to operate with just a single pilot. Also, you’ll want to think about whether your flight crew will be permanent employees or if you’ll hire them on a contractual, as-needed basis. This will likely depend on how often you intend to use your new asset.
- Operating costs — It is important to know ahead of time how much you will need to spend on maintenance, fuel, insurance, engine overhaul reserves, navigation database updates, and other ongoing costs for your new private jet. Some aircraft have low purchase prices, but high operating costs. It is important to have an aircraft expert assist you with your decision to help save you money in the long run. Depending on how frequently you use the plane, it may or may not be worth the ongoing costs for you.
- Buying or chartering? — Buying a private jet is often a wise investment if you expect to be in the air often, but it’s still possible to travel in luxury without making such a large outlay of capital. Chartering a private jet on an as-needed basis may be a more appropriate choice, depending on your travel needs to and from Los Angeles, San Diego and the Southern California area. If you do not plan on flying at least 100-150 hours per year, chartering may be a better option. You will still reap many of the benefits of having a private jet, but without all of the responsibility that comes with ownership.
- Management — Jet ownership requires logistics such as hangar space to park the aircraft, proper vetting and training of flight crew, financial accounting, maintenance and inspection scheduling, aircraft cleaning, and refreshment supplies stocking as well as preparing the aircraft whenever you would like to fly. Some jet owners prefer to handle these activities themselves, while others opt to hire a professional private jet management company to handle these responsibilities. Aircraft management companies are also often able to provide discounts on fuel, insurance, and hangar space due to their size and buying power.
There are few experiences as exhilarating as buying a private jet. If you would like to learn more or simply have questions, the team of experts at Latitude 33 Aviation can help. We can be reached at 1.800.840.0310 or contact@L33Jets.com.
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