Tag Archives: private jets

How to Buy a Private or Corporate Jet: The Features & Benefits to Corporate Aircraft Ownership

In the last post, we at Covington Aircraft covered the basics on how to choose the perfect corporate aircraft for your business or private needs as well  as things to consider in pricing. In this edition of the “How to buy a Private or Corporate Jet” series, we talk about the features and benefits to corporate aircraft ownership.

Many corporations purchase corporate aircraft or invest in fractional ownership of jets due to the tax deductions such ownership can provide.  However, there are other financial advantages to owning a corporate jet.

Customized Corporate Jet InteriorCustomized Features

 

Owning a corporate jet allows the company to customize the interior of the aircraft to allow executives the ability to work as they travel in far more comfort than they can find on a commercial jet.  Elegant designer interiors can be expensive, some running as high as $85 million, but these features allow company employees to hold private business meetings as they travel to their destination, eliminating non-productive time spent on commercial jets with crying children and tight seat spaces.  In addition to the interior of the jet, the aircraft engine can be customized as well.  High quality engines, such as the PT6A from Covington Aircraft, offer reliability and reduced maintenance costs which also can save money.  Covington even offers loaner engines to eliminate downtime while your corporate aircraft is being repaired and their AOG services provide expert knowledge of aircraft engines.

Time Savings

 

Most airports offer many time savings to corporate executives who utilize private aircraft.  Many have private parking and private security checkpoints for those who use corporate jets, as well as executive lounges and free transportation to and from the airport.  Executives are able to avoid the hectic atmosphere of an airport and there is no waiting for luggage in baggage claim when they arrive.  One of the biggest benefits to owning a corporate jet may be flexibility.

Corporate Jet OwnershipFlexibility

 

Corporate aircraft are not limited by the hub and spoke system of commercial airlines and are able to schedule flights with much more flexibility.  Any corporation who has lost a major contract due to a missed connection and additional expenses for overnight accommodations for staff stuck in a connecting city can understand the benefits of corporate jet flexibility.  In addition, because private jets are smaller, they are able to land at smaller, commuter airports that may be closer to the desired destination than commercial airlines can.

Purchasing a corporate jet provides significant financial savings for those who spend many hours in the air.  With attractive financial packages available, the tax advantages to jet ownership and the time savings involved, purchasing corporate aircraft is a beneficial financial decision.

[gravityform id=”1″ name=”Request Maintenance”]

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

The Types of Corporate and Business Jet Aircraft

There are approximately 11,000 business jets in the world-wide fleet made up from 5 categories.

boeing-buz-jet-cabin

The five categories are based on several criteria, gross take off weight, range and cabin space.  The largest of these being heavy and large cabin jets.  The heavy jets are based on or converted into business use from airliner aircraft: large cabin jets are designed and built with this purpose in mind.  The super mid-size jet is the elite of the business class jets.  Mid size jets are suitable for transcontinental flight.  Light jets are the staple of the business aircraft industry.  Very light jets are suitable for small airport access.

Heavy and large cabin jets are suited for large numbers of passengers.

Heavy jets are mainly utilized for large groups of passengers such as sports teams or celebrities with large entourages.  Heavy jets will offer amenities such as living rooms, bedrooms, work spaces, full service galleys and lavatories with showers.  With a 6,000+ range, they are well suited to intercontinental flight in the ultimate of luxury.  Examples of these are the Boeing Business Jet line and the Airbus.  Large cabin jets offer less in the way of amenities for a like number of passengers but can be just as luxurious.  Also capable of similar range, they offer a comfortable way to experience transcontinental flight.  Examples of this class of jet are the Bombardier Global, the Dassault Falcon 7x or the Gulfstream G500.

Super mid-size jets are the quick way to get there in luxury.

bombardier-learjet-60XR

Capable of high altitude, speed and the ultimate in range, these aircraft also offer wide body comfort offering room to move around.  Outfitted with a robust engine system, this is the way to arrive quickly in luxurious comfort.  Some examples of this class are the Dassault Falcon 900DX, the Cessna Citation X, Embraer’s Legacy 600 and the Hawker 4000.

The mid-size jet offers long range for a large group of people.

 

Built for transcontinental flight with a range of 2000+ miles, these aircraft are built for long hours of flight for a large group of passengers.  These aircraft are well suited for business or corporate aircraft applications.  Some examples are Cessna’s Citation Columbus, Bombardier Learjet 60 XR or the Gulfstream 150.

Light jets offer a versatility not offered in larger aircraft.

The light jet class offers the ability to land at much smaller airfields than its big sister ships.  Offering unmatched speed by propeller driven aircraft, this is a good answer for intra-continental flight.  This aircraft came onto the market in the 1960’s and has been a mainstay ever since.  Well suited as business aircraft or private jets, some examples are Bombardier Learjet 40 XR, Embraer’s Phenom 300 and the Cessna Citation CJ1.

Very light jets are the smallest of the fleet.

Sometimes referred to as microjets or VLJ’s, these aircraft are especially well suited to landing at small community airports.  The newest addition to the fleet, several models exist only as prototypes with production models only on paper.  The VLJ has a maximum take off weight of 10,000 pounds.  Some examples of this class are the Cessna Citation Mustang, Cirrus’ Vision SF50 and the Honda Hondajet.

The ownership of any of these aircraft can be an expensive endeavor.

For this reason, many of these are owned by a multiple companies or individuals.  This relationship is called fractional ownership and lends itself well to the expense of hangerage, maintenance and staffing of this type of aircraft.  This is true if there is little need for full time ownership by these companies or individuals.  Maintenance can be an expensive part of aircraft ownership and the need to ensure that value is received for this cost.  Covington Aircraft services and sells engines for corporate and business aircraft.  We are a world-leading aircraft engine maintenance, repair and overhaul facility.

Founded in 1972 in Tulsa, Oklahoma, located near the Tulsa (TUL) International Airport, they have developed core values of integrity, dependability, quality service and the lower prices.  We know, after all, it is the bottom line that counts.  A Pratt and Witney Canada certified distributor and designated overhaul facility, specializing in the PT6A turbine engine and R-985 and R-1340 radial engines, they can provide complete overhaul and repair services for corporate and business aircraft.  To learn more about Covington Aircraft, please click here.  To read more about various types of aircraft, visit their blog site by clicking here.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS