Owning a Private Plane vs. Air Charter Service

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Would I save money buying my own private plane?

Owning a Private Plane vs. Air Charter Service

Would I save money buying my own private plane? It's a good question, without a simple answer. Many factors come into play when considering a plane purchase. First, don't let your ego get in the way of a sound decision. The prestige in owning a private plane can be intoxicating and can make you make choices you might regret later. This, of course, is a life lesson if you have never bought an airplane. The responsibilities of ownership can seem endless, not to mention a bottomless pit of expense. With rising fuel costs, parts, storage, insurance and timeline inspections and greater security on the airside of the airport, it makes you question the idea. Depending on the complexity of your travel, you may need nothing short of a flight department for your planning, just to keep pace with the ever-changing airspace restrictions that are issued daily. Air charters are your flight departments for hire.

Hiring experts for long in-depth investigation into finding quality aircraft for purchase is not just a good idea, but also a requirement if you wish to make the best purchase possible. You might also consider leasing your purchased aircraft to a charter company. This offsets some ownership costs, but restricts availability of the plane for yourself. If you really have your heart set on ownership of a jet aircraft, you may want to consider enlisting taking partners on this venture. This is more intimate than a charter and may provide a better flying schedule.

   

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Barbara Gibson