Flight departments are corporate-owned operators who manage the aircraft of a specific company. Ford Motor Company, Chrysler, and Altria are examples of companies that own, maintain and operate their own fleet of private aircraft for their employees. Flight departments handle all aspects of aircraft operation and maintenance. In the United States, flight-department aircraft operate under FAR 91 operating rules.
Another important factor Fazal-Karim suggests considering is the length of time you plan to own a plane. He says the average period of ownership is one decade, and typical depreciation in aircraft value drops about 10 percent to 15 percent in the first year with a further 10 percent each subsequent year. Due to low inventory and high demand for pre-owned aircraft, the Jetcraft Market Forecast predicts depreciation rates will improve over the next 10 years. Jetcraft
On 1 April 2017, there were 22,368 business jets in the worldwide fleet, of which 11.2% were for sale.[5] 5-year old aircraft residual value level is at a 56% of the list price.[6] A new business aircraft depreciate by 50% in five years before depreciation flattens between years 10 and 15, and the owner of a 15 to 20 years old is often the last, matching luxury cars.[7]
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