Aircraft Management
Proper aircraft management is vital, especially for companies and individuals who own private jets. Through an aircraft management company, the turn-key service takes care of all aircraft needs, including Operations, maintenance, Crew among others for a seamless operation in the air. The service splits in two: PART 91 aircraft management and PART 135 aircraft management (revenue service).
PART 91 aircraft management offers a chance for complete management of routine and unexpected Maintenance/parts, Operations/Dispatching, and managing of crew members. Meanwhile, PART 135 aircraft management maximizes the time off of aircraft to generate revenue for their owners, even during downtimes. This is ideal for aircraft owners who fly less than 20 hours a year and would like their aircraft to generate revenue in order to offset fixed and variable costs. In addition to great tax benefits that can also be applied. Owning an aircraft can be costly, especially with unexpected maintenance bills.
However, the latter requires necessary permits and conformity with the FAA before flying to ensure the safety of the aircraft. But if you’re going to trust an aircraft management company, what factors should you look for in their services?
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Proof of Safety
The primary factor aircraft owners should consider is the company’s proof of safety. As companies or individuals take care of passengers in the air, it’s also vital that the firm they go to for aircraft management maintains the level of safety as high as their standards.
A good enterprise should have a safety program in check or a system that discusses how the service will make the aircraft safe for flying. Any company without clear and definitive proof of safety should not be something to trust the plane with. Instead, looking for one that offers the same services with a high level of security is where owners should go. Do your research on the aircraft management company prior to turning over your aircraft considering the fact that the addition of your aircraft to their certificate can cost you upwards of $10,000 dollars for a conformity check as well as other fees such as the Weight and Balance, new pilot hires and training, aircraft management fee, depending on the type of aircraft being managed.
To check for a company’s safety rating, clients can look at the National Transportation Safety Board and the Federal Aviation Administration for related incidents involving the aircraft that it has been associated with and its operations. Another great safety rating is to confirm if the operator is a wyvern or ARGus registered. Gold with being the standard, and platinum with being top tier safety rating.
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Service Coverage
Aircraft management companies offer various services to their clients. Some only handle maintenance and routine checks, while others cover the complete package until the chartering of an aircraft. However, it also pays to check if the company deals with the specific aircraft, model, or brand that the client owns.
Oftentimes, aircraft owners may be able to save some costs by receiving fuel discounted rates through the management company. It’s always a good idea to ask what services you will be able to save on should you decide which management company to favor. This is a great part of the decision-making for aircraft owners.
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Financial Transparency
It’s no secret that managing an aircraft can get a little costly. Maintenance costs alone can add up to several digits, not including insurance premium fees, taxes, crew salaries, training, variable expenses, and other charges that make up the equation.
Clients must choose a management service that offers a transparent way of computing financial responsibilities to help them evaluate the charges and amount included in the service provided. In a way, it’s ideal, especially for people who need to ask specific questions about their expenses and where their money goes.
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Good Revenue System
Allowing an aircraft management company to charter a plane is a great way to generate revenue using your aircraft. As taking care of an aircraft may incur fixed and variable expenses, chartering should be a great way to generate cash to offset maintenance costs and expenses related to your private jet. A good revenue plan or system is something an aircraft management company can review with you.
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Localized Service
Most Aircraft owners would prefer more if their aircraft is somewhere close to them, a home base. Begin by searching for some local management companies in your area. That way you can have oversight of your aircraft, the way it’s being utilized and cared for by the management company.
Conclusion
Maintaining an aircraft is not a simple task. However, Corporations or individuals who own planes can be at ease knowing that their investments are taken care of by the people they can trust.
Velox Air Charter aims to become the best private jet charter globally by providing excellent service through pristine planning, incredible hospitality, and top-notch service. Our services include private jet rental, Aircraft Revenue Management Solutions for aircraft owners, and PART 135 Operators. Velox Air Charter is taking a different approach by taking charge of generating revenue for your aircraft. Our revenue Management Program has helped numerous aircraft owners and operators realize substantial charter revenue and cost savings in the operation of their aircraft. Are you tired of not seeing any capital gains from the chartering of your aircraft? Contact us today to learn how we can help you meet your revenue goals.
