The Truth About Buying Your Own Private Jet

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In this video, we discuss when it makes sense to buy your own private plane versus charter. It's simply a matter of how much you fly. So, there are economies of scale. So for example, if you're flying 200 hours a year, we can make a good argument that owning an airplane makes more sense because now you control your pilots, you control the airplane, there are ways to offset some of those costs with third party charter, which we can help with. We have a list of approved operators that we work with, we can help put all the financials together for that. It's like having your own flight department. So, you can either do that with your pilots, we can help you, or we can help select a third-party management company that really meets your needs. So, that's one way, you can own your own plane.
There are fractional companies out there, NetJet, Flexjet, people like that. Those make sense sometimes, it just depends. There's never one solution for all private needs. So, we have a lot of our clients that do our on-demand charter that may have a fractional program. They might use that fractional program for a one-way trip, peak travel time, holidays, Christmas, Thanksgiving, New Years. There are some 'gotchas' with that. There are things you need to read in the fine print. It's usually a very big upfront charge to buy into a fractional, the hourly rates are very high. In some cases, it might be the right fit. Like I said, in some cases, it might be calling up someone like ourselves, Status Jet, just to book trip by trip. It just really depends on the needs.
So then, the third way would just be on-demand charter, which is what Status Jet does, is we provide options. So, when you call us, we'll take that same trip and instead of just giving you, here's your price, we'll give you two or three different options.