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Division Of Ownership And Private Jet Plane Financing
July 30th, 2010 by Chris Channing, under Travel and Leisure. No Comments
Owning a private jet is a commitment. Foremost, it is a commitment of a vast sum of money that most just simply don’t have. That isn’t to say that the private jet is forever elusive, as schemes such as the fractional ownership plan have allowed low budgets to obtain private jets too.
Private jet ownership done on a fractional level will mean that you are able to use the jet according to either a certain schedule, or via a certain amount of hours per period. If you are only flying about 50 hours each year, this is the better option as you aren’t paying for the overhead that comes with paying for the jet and all the maintenance required to keep it running smoothly.
Perhaps traveling via jet isn’t a long term solution for you: that’s fine too! There are plans in action that allow buyers to liquidate their share in a jet in order to get their invested money back into capital. Liquidating your stake in the jet will mean you will get a fair market value at the present time period- so you may actually get less than you have put into the operation.
Companies that can guarantee availability are the best to side with. Essentially, the company will find a different jet for you if the one you have ownership in is taken. Companies that do this will find either a jet that is on par with the one you have ownership in, or a better one. It’s like buying a coach ticket and flying first class- anything is possible!
Find out about all fees before signing the papers. This can’t be stressed enough, as there will still be periodic fees for the maintenance of the jet. The massive amount of money it takes to finance these operations will be considerably less since you only own a fraction of the jet, but be aware that there are still fees. Keep some room in your budget to pay them upfront after finding out the estimated costs.
Press the charter company for every detail possible in regards to what you can or can’t do. While it will all be outlined in your contract, odds are that the company won’t go over everything with you unless you specifically ask. It might also help to find a lawyer, or find a previous client that has signed a contract- perhaps a friend or family member. Ask them how they felt about the contract and service.
Closing Comments
From here you should be looking at companies that can cater to your needs. Fractional ownership is still a relatively new idea, so not every private jet company will have this option. Just keep looking and don’t be afraid to go with a company outside your region.
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The Facts Concerning Safety Of Private Jets
May 19th, 2010 by Chris Channing, under Travel and Leisure. No Comments
Everyone still seems to be more frightened flying and driving after the September eleventh attacks. Unfortunately, people are still avoiding air travel due to fear. There has always been the same old question regarding the difference between the safety of driving or flying. Continue reading for the facts concerning safety of private jets.
When making a comparison between flying or driving, flying comes in first every time, according to all the statistics. Your chances of being fatally injured in a car accident are far greater than being killed in a plane crash. How much greater, how about over ten million times greater. How is that for a statistic.
Really, how dangerous is it to fly? Well, the two are based on completely different information. When calculating driving stats, it is based on miles traveled, and your seat in the car. Flying stats are calculated by takeoffs and landings.
A study done showed, that between 1991 and 2000, out of 7,071 worldwide airline deaths, ninety five percent occurred during either takeoff, and climb after takeoff, or during descent and landing. Five percent of the deaths occurred resulting from accidents at cruising altitudes. This would indicate that the number of flight segments involved has a large impact on the safety of the flight, and not the distance traveled.
To make a comparison between general or private aircraft and driving, the death rate is just below twenty per million hours of flying. The vehicle fatality rate is right at two for every one hundred million miles. More than twelve percent of the automobile deaths were on foot, and were not actually driving the vehicle. Motorcycles are considered to have a much greater fatality rate.
When calculating the safety of private planes as compared to commercial airlines, you have to base your facts on pilot flight hours, training, and maintenance on the aircraft. Private planes are regulated by the Federal Aviation Administration (FAA), and must follow the same regulations and guidelines as commercial airlines. Flying in a private jet certainly is more comfortable and convenient.
When you are figuring risk management, it is much better in a plane. In a vehicle, you must constantly be on the defense for other drivers. There is really little difference to your safety between commercial and general flights if the pilot is well trained, has experience, and the plane has been well maintained. The rear of a commercial airliner is supposed to be the safest place to be seated. Now you have the information regarding safety of private jets.
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