Private Jet Charter vs. Ownership: What’s the Best Fit for You?
When it comes to accessing private aviation, one of the most frequent questions is how to achieve the flexibility and convenience of flying on your schedule at a cost that makes sense. The debate often centers around two main options: private jet charter versus outright ownership. Which of these two options is right for you?
At Partners In Aviation (PIA), we offer a third option: Co-Ownership, which provides the benefits of private jet ownership without the full financial burden.
Private Jet Charter: Flexible, but with Limitations
Chartering a private jet, including jet card and membership programs, is an appealing option for individuals who want on-demand access without the responsibility of maintaining an aircraft. You can select the type of jet for each specific trip and only pay for the hours you fly, making private jet charter ideal for occasional flyers. However, charter users lack control and costs add up quickly for those who fly frequently.
Pros:
- Pay only when you fly
- No responsibility for maintenance or crew
- Flexible jet selection for each mission
- Most efficient for those flying less than 50 hrs/year
Cons:
- Highest per-hour costs compared to ownership or co-ownership
- Limited availability during peak seasons
- No control over specific aircraft or crew
- Surge-pricing during peak season
Full Private Jet Ownership: Total Control, Total Cost
For those who prioritize control and require regular access, owning a private jet offers unparalleled convenience. You can fly in your aircraft, with your own dedicated crew, and control every aspect of your aircraft’s management. But with total control comes total cost burden – for maintenance, hangar fees, crew salaries, ect. This makes jet ownership hard to justify for those flying fewer than 150 hours per year.
Pros:
- Full access and control over your jet
- Consistent availability and dedicated crew
- Most efficient for those flying around 150+ hours per year
- Potential tax advantages can reduce net cost
Cons:
- Owner carries 100% burden of upfront/acquisition costs
- Owner carries 100% burden of ongoing operational costs
- Inefficient for low utilization users (less than 150 hours per year)
Co-Ownership: The PIA Managed Solution
Partners In Aviation offers a unique approach that combines the cost savings of private jet charter with the access and control of full ownership. PIA Managed Co-Ownership allows you to split the costs of owning a private jet with one other operator, cutting your financial commitment in half, while still enjoying access to your aircraft 25+ days per month.
The program is designed for those flying 50 to 150 hours annually. You maintain control over your flight schedule, the aircraft itself, and your crew, without the drawbacks of private jet charter availability or the high costs of full ownership.
Pros:
- Split acquisition and operational costs with a like-minded co-owner
- 25+ days per month of aircraft access
- Control over your aircraft and crew
- All the access – without the excess
Cons:
- May not be appropriate for occasional flyers – less than 50 hours/yr
- May not be appropriate for high-time flyers – more than 150 hours/yr
Which Option Is Best for You?
Choosing between one of the many forms of charter/membership and full ownership depends on your flying habits. If you fly more than 50 but fewer than 150 hours a year, PIA’s Managed Co-Ownership offers the ideal balance of access, control, and cost savings. For less frequent flyers, private jet charter may be more cost-effective, while those flying more than 150 hours annually may benefit most from owning a jet outright.
Ready to Explore Co-Ownership?
If you’re interested in reducing the costs of private jet ownership without sacrificing control or access, Partners In Aviation can help. PIA Managed Co-Ownership provides the perfect middle ground, allowing you to enjoy the luxury of private aviation at a cost that makes sense.
Learn more at www.partnersinaviation.com and find out if co-ownership is the right fit for you.