Corporate travelers are increasingly leaning away from private jets. Once a signal of prestige, the private jet has become a burdensome line item, and recessionary winds have prompted many corporations and CEOs to permanently ground their jets.
What does that mean for the future of corporate travel? Don’t expect to see former jet devotees lined up at the boarding gate.
A new trend in private air travel is allowing elite travelers and corporate travelers to enjoy privacy without ownership. And no, it’s not just another charter option.
Why Jet Charters Won’t Fill the Gap
The pivot to private charters would seem obvious. However, traditional chartered flights simply leave too much in the air (pun intended) for determined, time-crunched travelers.
The biggest issue that corporate travelers face when chartering is inconsistency. Accustomed to flying on the same aircraft with the same crew and staff for years, many former jet owners find charters to be unpredictable and unsatisfying.
It’s a bit like going from a private driver to calling an Uber to get around.
Corporate Travelers Are Discovering Private Jet Ownership Without the Ownership
While corporate travelers are eager to unburden their balance sheets of the ownership and maintenance costs associated with a private jet, they aren’t yet ready to be at the whims of a charter agency with an ever-rotating fleet.
The gap is being filled by an innovative new model aptly called Freedom by Four Corners Aviation. Essentially, Four Corners purchases a private aircraft outright, takes over management, and provides the client with full access to the aircraft and crew.
With the purchase of the jet, costs for capital and depreciation are taken on by the new owner. The previous owner can truly wash their hands clean of the financial liabilities, without having to wave goodbye to the aircraft. Using monthly payments spread over a five-year agreement, this method removes exposure on a company’s balance sheet without removing access to the jet.
“No other provider offers a similar program whereby they purchase the aircraft outright and take over all management,” shares Vincent Kavanagh, Executive Vice President and Head of Sales for Four Corners Aviation.
Ultimately, the new model for private flying allows corporate travelers to give up burdens in exchange for more freedoms.
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