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CHARTER VS. OWNERSHIPA Comparative Study The economic expansion of the 1990’s created an exponential demand in air travel and a keen focus on time management. Corporate Aviation, an exciting and growth oriented industry throughout this economic boom, experienced unprecedented demand in new aircraft for personal and business use. The customers were corporations and high net worth individuals. The success of the Fractional Program (selling incremental shares in blocks of 50 hours/year or 1/16 shares) created the opportunity for ownership to customers with modest net worth. The increasing demand for air travel resulted in the growth of the on demand Executive Charter customer. The aircraft utilized for Air Charter were from the inventory of corporations and individuals who leased their aircraft to Aircraft Managers and Charter Operators and used the benefit of Charter Revenue to mitigate the cost of aircraft ownership. As the industry expanded it became one of the most high profile service oriented industries in the world. The glitz and glamour was accompanied by excellence in the service it provided, in the overall safety of the aircraft, service oriented crews, technically proficient maintenance personnel and top-level ground support from door to door. The objective of this study is to provide an executive summary analysis of the options available to the executive traveler of the new millennium and to provide a basis for establishing the right criteria for the individual to make an informed decision regarding charter vs. ownership of a Private or Corporate Aircraft. |
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