Recent reports indicate that private aviation may be bouncing back slowly after a painful economic slump. This "recovery" has yet to be proven industry-wide and, as always, any investment in private aviation should be carefully considered and undertaken only with the guidance of an experienced private aviation attorney.
If you are considering a first-time investment in private aviation, or perhaps switching to a different program or provider, how should you determine which option is right for you? Fractional ownership? A jet card program? On-demand charter? A combination of investments?
Here are a few of the questions we ask our clients in determining which of the many private air travel options is right for them:
- What is your budget?
- Where and when do you fly?
- How far in advance do you plan your trips?
- How many passengers and how much luggage do you take?
- Do you have specific aircraft preferences?
- Can you take advantage of depreciation tax deductions?
I tell my clients that their goal should be to purchase maximum flight time at minimum cost on aircraft that best fit their needs and that are operated by reliable and financially stable companies. It goes without saying that making the wrong choice can cost you dearly. On the flip side, making the right choice can be life-changing - freeing you from the flight delays, intrusive security and horrendous service that characterizes the commercial airline experience.
For a fuller analysis of how to make the best jet investment, click here for my recent article, “Private Air Travel: What Investment is Right for You?”
