Business travel is a necessary feature of operations for many companies around the world. It helps to start and maintain relationships, share ideas and concepts, and broaden horizons for a company. Many different options are available when it comes to transport and accommodation, but none are quite as exclusive and unique as private jets. For international business travel, or even cross-country journeys, business jets offer an incredible level of flexibility, privacy and convenience – but it all comes at a price. So, can you justify the cost of hiring a private jet for business?
An Unrivaled Experience
When it comes to aviation, hiring a private jet offers a completely unrivaled service. While you could pay less for a seat on a commercial flight, the business jet experience is unmatched from start to finish. From easy and convenient boarding to a tailored and personal in-flight service – a private jet is the ultimate luxury business travel method. Forget busy airport lounges and long queues, when flying privately you can avoid all that and cut your travel time by hours.
Scheduling Around You
Commercial airlines run to a schedule designed for their own benefit, not yours. With private aviation, you can create your own custom flight plans, routes and timelines to meet your requirements and needs. For busy business executives and leaders, this is an invaluable asset to help meet hectic schedules and widely dispersed commitments. Furthermore, with the ability to book on-demand and with shorter notices, private jets can help you adapt to changing situations as they happen.
If you plan on investing in private planes, you need to remember there will be ongoing costs. You will need to pay for maintenance, repairs, gas, insurance and crew salaries. For example, if a tire blows, it can cost you around $2,000 to $3,000 for a replacement. Additionally, most private jet owners pay around $500,000 to $1 million on operations each year. More so, an average aircraft takes about 3,500 gallons to fill. As a result, you will have to pay an estimated $7,000 each time you fill your tank. Additionally, you have to pay the flight crew an annual salary. Private flight attendants can cost anywhere around $50,000 to about $80,000. In fact, to hire a private pilot, it typically costs over $100,000 a year. Certainly, consider ongoing costs when determining if a private jet is worth the cost for business travel.
Time Is Money
Where time can be saved in business, money can be saved or gained elsewhere too. The traditional airport experience for commercial flights can take hours with early check-ins, predeparture checks and arrival procedures. In fact, depending on where you’re traveling, the line for bag checks and bag searches can take hours. These hours can be saved when flying privately because you are able to arrive just minutes before take-off and disembark without having to wait for other passengers. This time saved can be used elsewhere for any number of things that are more beneficial to your schedule or company.
Of course, there may be times when it is better to charter a private jet rather than buying multiple plane tickets. You can charter a jet for about $50,000 one way on a trip from San Francisco to Honolulu. That may not be worth the money as the flight would only take about 6 hours. The cost doesn’t really justify the means as you can buy 9 economy plane tickets for about $3,000 total. More so, you can buy cheap business class tickets for a more comfortable ride. However, there may be long business trips that could take about 20 hours, such as traveling from New York to Singapore. When traveling such distances, especially with business partners, you may want to consider a private jet. While it could cost up to $200,000, the flight includes comfortable seating, space to move and luxury features such as warm blankets. Definitely consider flight time when deciding if a private jet is worth the cost for business travel.
Can The Cost Be Justified?
It ultimately comes down to your financial capabilities and business travel needs. If you travel by air regularly and have the financial means to hire private jets, then the cost can certainly be justified for the benefits outlined above and many more. On-demand and membership programs for business jets can make flying regularly more cost effective and can help to support your specific travel requirements. Additionally, if you decide against a private jet, there are many ways to optimize your economy flights using your corporate card. Whether you decide on a private jet or a commercial flight, you can find deals and savings for almost every flight. Of course, consider these factors when determining if private jets are worth the cost for business travel.