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What to Consider When Choosing an Aircraft Management Company

Owning a private aircraft is a serious investment and requires time and care when it comes to deciding on the best private jet to meet your needs. You may have decided that the amount of time you spend traveling might actually mean that ownership is a more economical decision than constantly booking commercial and private flights. The same careful consideration should be made for choosing your aircraft management company. While many aircraft management companies may offer similar services, you should take the time to investigate what makes one company different from another and see which one can provide you with the services and accountability that you need. As a result, there are often additional benefits and varying factors that will influence your decision. Here are some important factors to consider when choosing the right aircraft management company.

Crew
When it comes to your private aircraft, you will want to ensure that only the best and most qualified crew members are operating it. Trust, training, and reliability are important factors and goes beyond simply looking into the company itself. In some cases, an aircraft management company may not necessarily have the most experienced flight crews just because they have been in business longer than another company. Take the time to inquire about the crew as well as their training processes and additional crew requirements or standardsLatitude 33 Aircraft Management Company

Maintenance
The care your aircraft receives is obviously an important aspect of deciding which aircraft management company will be the right fit. You will want a knowledgeable and efficient manager to be on top of things when it comes to dealing with routine maintenance inspections or unexpected mechanical issues. It is also important that your manager is current on mandates and regulations in order to ensure that changes or upgrades are always compliant. If your aircraft management company is not up to date, it could unfortunately lead to unexpected delays or costly rework.

Costs and Discounts
Cost is undoubtedly going to be a factor when deciding which aircraft management company is the best option for your needs. However, be sure to understand the full breakdown and factor in any additional benefits that could reduce your costs. Many companies offer discounts on maintenance labor and parts, fuel, reduced insurance costs as part of a group or fleet rate, and discounts and premium benefits at FBOs. In some cases, the discounts are greater than the cost of the management fees. Another way to offset costs is to consider charter services. You can allow others to share in the benefits of flying privately while also earning revenue when you are not using your aircraft. This can reduce your cost of ownership by 50 percent or more.

Reporting
This may seem like a small or more minor detail, but it is actually a significant one. The best managers will be able to breakdown your monthly costs in a clear and transparent way so that you know exactly what you are paying for. Detailed and thorough reports ensure that you have the ability to monitor, track, and review all expenses required for your aircraft. Having transparent communication up front ensures that you build a relationship on trust with your aircraft manager, which is often one of the most important things to consider when making a selection.

Latitude 33 Aviation Aircraft ManagementClient Retention Rate
What is one of the best methods to determine the overall quality of an aircraft management company? Ask its clients. While protecting the privacy of clients is extremely important for private jet management companies, any reputable organization will have satisfied, longstanding customers that are willing to speak about the service they receive. A management company that does not provide references may not keep their clients happy for very long.

In conclusion, you will want to find the aircraft management company that offers the services you need and will work with you in a way that shows they always have your best interest in mind. Companies built on quality service, trust, and reliability are the ones who will make your investment in a private aircraft worth every penny.

 

 

If you are interested in learning more about choosing the aircraft management company right for you, contact us today.

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