Three leading aircraft brokers share with Chris Kjelgaard how business aircraft owners can choose the most suitable aircraft management options for their needs...
Any business aircraft owner, novice or experienced, should keep in mind that their goal in owning an airplane is for it to deliver a particular combination of experiences – whether those are intended to satisfy personal, family or business purposes.
The experiences generated by owning and using an aircraft derive from a primary purpose for which the owner purchased it in the first place, according to Johnny Foster, President and CEO of OGARAJETS.
That might be to assure safety and security for the owner when flying, or it might be to ensure privacy for executives or charter passengers when traveling.
Alternatively, says Foster, an owner’s purpose in buying an aircraft might be to improve the efficiency of their business operations, by making it possible for corporate executives and other staff to reach many more airports and destinations much more quickly than they could if flying with the airlines.
The aircraft is invariably expensive to purchase, and it requires constant further financial outlay to operate and keep it airworthy.
For those seeking an aircraft management company to take care of the operational and upkeep side of the aircraft, choosing the best option for the aircraft is essential, says Foster.
While the choice depends on a combination of the owner’s circumstances and characteristics (e.g., whether the aircraft is owned by a person, a family office, or a company), experienced aircraft brokers agree that one characteristic of many owners should heavily influence the aircraft management decision.
Specifically, first-time buyers should start their ownership experience by contracting a seasoned aircraft management company, or a reputable charter operator if the owner expects to generate revenue from their aircraft, to handle all aspects of the management of the aircraft for at least an initial period – 12 months, two years, or perhaps more.
“We are huge advocates of aligning our clients to professional management that can align [them] with the experience they are expecting” from owning and using their aircraft, says Foster.
While OGARAJETS advises many clients of varying ownership experience to choose third-party management, its advocacy of the option particularly applies to the first-time owners on whose behalf it purchases aircraft, Foster emphasizes.
This article was originally published by AvBuyer on January 9, 2025.