Four Corners Aviation has released an executive overview on Freedom, its Corporate Jet as a Service program. The Q & A details how Freedom works and why replacing ownership with access makes sense.
Q & A BRIEFING
Freedom™-The Corporate Jet as a Service product from Four Corners Aviation
Company Background Information
Four Corners Aviation was launched in October 2021 through a partnership between Mente Group and Aquila Aviation Ventures. Mente Group, a business aircraft brokerage and consultancy firm, and Four Corners Aviation are both holdings of Aquila Aviation Ventures. Brian Proctor, CEO and President of Mente Group, also serves as CEO of Four Corners Aviation.
1. How did the idea for Corporate Jet as a Service come about?
The idea evolved from Mente Group’s experience and Mr. Proctor’s 20+ years of industry involvement working with clients to manage their aviation solutions. What many business aircraft owners and users seem to want is streamlined aviation experiences that would protect capital, but still offer the same benefits and access of owning an aircraft. The solution was to remove the ownership concept and replace it with a service concept that could be outsourced, much like IT and payroll. Corporate Jet as a Service, or CJaaS, is an entirely new way to deliver corporate aviation. It replaces aircraft ownership with access through a single services agreement that delivers the same level of service the customer has with their flight department.
2. What are some of the key attributes of the CJaaS model?
One major attribute is it frees up capital, as you are not holding the asset. But you still have all the benefits of your own flight department, including the personalized level of service you expect. CJaaS removes the capital expense from the books, which from the CFO perspective satisfies concerns about shareholder optics and eases some of the financial reporting responsibilities. Instead of the company selling their aircraft and going back to charter or the airlines, the travel experience is the same as if you owned the aircraft. From the C-Suite perspective, you are assured of the access and flexibility you need.
Another benefit is this is a single source agreement. We coordinate everything through one contract, paid monthly. The customer doesn’t have to deal with any of the operating or administrative responsibilities.
3. What is Freedom?
Freedom is the name of our CJaaS product. We branded it Freedom because that’s exactly what it is. Most customers don’t want to buy or operate an aircraft. They simply want what the aircraft provides: safe, simple, and customized lift, where they want it, when they want it. Freedom does just that. It is an entirely new way to access private aviation. Customers have all the benefits of having their own flight department, including the personalized level of service they expect, without the associated responsibilities, administrative hassles, and capital expense.
4. How does Freedom work?
Freedom is a true services agreement. We provide a customized solution for each client, tailored to their specific needs. The contract covers aircraft, crew, operational aspects and other options based on their requirements, completely customized to the member’s requirements. From the administrative aspect, the finances are simple:
• Set Monthly Access Fee
• Hourly Flight Charge, based on utilization
• Pass Through Charges – cost recovery for incidentals and variable fuel adjustment
From a customer experience aspect, nothing changes except freedom from the responsibilities associated with owning or operating your own aircraft.
5. What types of customers does Freedom serve?
Freedom makes the most sense for those that use corporate aircraft over 200 hours annually, which is when many companies and high net worth individuals opt for ownership. With Freedom, they have the same experience and personalized level of service they have come to expect, but without all the hassles. Our target base for Freedom is focused on Fortune 500 and 1000 companies that currently own an aircraft, high net worth individuals and family/privately held businesses that own an aircraft, as well as companies and individuals that do not own an aircraft but have been exploring their options. Freedom is a tailored, customized product, providing each client the flexibility and convenience that works for them.
6. How is Freedom priced?
Freedom customers have a 5-year single services agreement, with pricing based on the level of delivery they choose. Freedom is a tailored, customized product, providing each client the options, flexibility and convenience that works for them