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.
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.
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 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.
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