Difference between one time hiring or chartering vs leasing for a period of time

Private jet is acting as an evolving concept in this pandemic situation though it has been existing for many years. It has become a handy preference and also considered as a comfortable choice by every cadre of people who can afford to fly in a private jet. This article is going to take you through the differences between owning a private jet and leasing a private jet for a certain period. We have our own preferences and choice when it comes to our matter of convenience and especially this private jet has topped our priorities considering the present scenario. People who run businesses definitely need to look into this concept seriously.

Records display that many first time flyers are witnessed in choosing private jet leasing and some even have shown interest to buy on their own. This is absolutely e because of COVID-19 where people are not interested to risk their lives by flying in commercial flights and now the choices are only between buying and hiring. When we experience the features of a private jet our mind travels to the moment of purchasing immediately or we would finalize our decision to own a private jet. It is quite smarter to have a personal plane with you and the wisest choice is to invest in that because if you are a frequent business flyer then this becomes a customized choice. 

Beyond that, it can also have a decent resale value which is a high time consideration when you decide to invest in a private jet. Besides these factors, we have certain imprints to be known exactly as what could be the best choice when it comes to buying or leasing a private jet.

Look how cost can be a feasible option

The cost of the private jet booking  will definitely give you a clear stand on whether to buy or lease. It depends on the size, the model you choose, and also the ambiance and amenities that contribute to the purchasing preference. Why plan size is to be determined well in advance because it can have a cost impact as well as work very effectively on the frequency of distance you travel every time. 

Maintenance must

This is something to be not ignored and seriously considered because if you decide to buy a plane then you need to maintain it internally and externally.  People generally calculate only for the purchasing point whereas they forget that it involves maintenance as well. You need to pump in fuel regularly, credit salaries monthly, insurance will hang on yearly or quarterly depending upon your purchase, maintenance checks to be sent frequently which definitely comes in millions.

Preplan parking

Buying a jet or a private plane doesn’t mean that you are investing only on the plane but also includes your parking lot. It definitely occupies a humongous space and you need to get a special approval to have a specific location to park your private plane. Beyond this securing your private jet is somewhat to be noted with significance as you need to have a dedicated place and people to ensure you’re every of it needs meeting.

Will I fly all time?

Consider this as a serious question because it all depends upon your need and necessity to own or lease a private jet. Imagine if you are not going to fly for a certain period of time then you have to clearly create a framework for your private plane. You might either need to resell it or you like to search for people who are capable of buying your plane. Besides this, your plane should be on-trend to make your buyer get attracted and choose yours.

What if I don’t have plans to buy a private jet?

The answer is very simple: consider leasing a private plane. Leasing also has its own pros and cons which needs to be analyzed before deciding your preference to go. There are different types of leases and agreements can vary accordingly.

Generally lease types could be

• Dry lease
• Wet lease

Dry lease is just investing in order leasing only for the plane for a particular time period without crew pilot and cabin attendance.

Wet release is a complete solution and package you get once you go for leasing the private plane. This obviously involves a higher amount of money and associated for only a limited period of time

Why leasing?

It’s absolutely flexible because you can plan your lease contract according to your choice and if you want to terminate the agreement you can make it absolutely possible to do so at your convenience. Moreover, when you opt for leasing a private jet you can change your planes according to your choice and necessity which is not absolutely possible when you prefer to buy on your own. Sometimes you might accommodate fewer or more passengers and depending upon your suitability your plane can be changed. 

Irrespective of your choice and termination regarding your private jet preference, you need to analyze before you jump into the final conclusion. As discussed both buying and leasing have their own merits and demerits and depending upon your convenience and suitability you have to wisely choose and implement the choice.