Equipment trust certificate (ETC): Most commonly used in North America. A trust of investors purchases the aircraft and then "leases" it to the operator, on condition that the airline will receive title upon full performance of the lease. ETCs blur the line between finance leasing and secured lending, and in their most recent forms have begun to resemble securitization arrangements.
The key words here are prop planes, turboplanes, and light jets. Prop planes like the Cessna Caravan are popular because they're roomy (the seats are like business class, and often configured face to face). More popular these days are planes like the six- to eight-seater Pilatus PC-12, and KingAirs, which fly faster and feel more like jets. And then you get into light jets like Learjets, Embraer Phenom 300s, and Citation CJ3s, and Hawkers, all of which are sleeker and more streamlined, and can fly for four to five hours, for slightly longer trips.
The very light jet (VLJ) is a classification initiated by the release of the Eclipse 500, on 31 December 2006, which was originally available at around US$1.5 million, cheaper than existing business jets and comparable with turboprop airplanes. It accompanied a bubble for air taxi services, exemplified by DayJet which ceased operations on September 2008, Eclipse Aviation failed to sustain its business model and filed for bankruptcy in February 2009.
Charter companies offer a tailored service in which the client has a choice of meals, drinks, staffing levels and additional services. Tour companies aim to maximize profits, so public charters usually only provide a very basic service to passengers, with a cheap -- or no -- meal, minimal staffing and low baggage allowances. With a private charter, organizations can take advantage of options such as video conferencing, business services and corporate branding. In-flight meals are of a better quality, and passengers do not have luggage restrictions. With public charters, passengers still have to stand in line for check-in and security, so they need to be at the airport two to three hours before the flight. With a private charter, you can pass straight through security and onto the aircraft.
Private charter flights offer a range of advantages for busy professionals, including time-efficiency. From quicker check-ins to faster transit times, private jet hire is the perfect way to fulfil multiple meetings in different cities, carry out several site visits in one day or simply have more of an opportunity to remain productive while travelling.
The Bombardier Challenger 600 began as a proof-of-concept business aircraft design from American aircraft pioneer Bill Lear. The design was subsequently purchased by Canadair, the predecessor to Bombardier, in the late 1970s. Canadair further refined the design and certified the aircraft in 1980. The type really “took off,” so to speak, with the follow-on Challenger 601, introduced in 1983, which replaced its predecessor’s Avro Lycoming engines with modern General Electric CF43-1A turbofans designed for high-utilization commercial airline service.
Fractional ownership of aircraft involves an individual or corporation who pays an upfront equity share for the cost of an aircraft. If four parties are involved, a partner would pay one-fourth of the aircraft price (a "quarter share"). That partner is now an equity owner in that aircraft and can sell the equity position if necessary. This also entitles the new owner to a certain number of hours of flight time on that aircraft, or any comparable aircraft in the fleet. Additional fees include monthly management fees and incidentals such as catering and ground transportation. In the United States, fractional-ownership operations may be regulated by either FAA part 91 or part 135.
Time saving - this is one of the most significant reasons for using private aircraft. Depending on your program you can have an aircraft ready in just a few hours. You can arrive at the airport just minutes before your scheduled departure time, fly directly to your destination (without any layovers), make productive use of your time onboard, avoid overnight stays (saving hotel $ as well as time), avoid waiting in lines at the airport, land at over 5,000 airports in the US and so be closer to your destination. All of this can provide significant savings in both productive time and in dollars. Productivity - the time savings above provide significantly more productive time, both onboard and before and after your flight. You and your staff can make the most of the travel time to talk business or work with customers, suppliers or partners.
Private jets are available in a wide variety of sizes, classes and models, each with different capabilities suitable for different missions and preferences. From an efficient Light Jet with seating up to 7, to a luxury Ultra Long Range Jet seating up to 19. Our network of certified private jets includes jets for any need. View specifications for each jet, or contact us for a custom consultation on which jet is best for your next charter flight.
Because a charter flight is not part of a scheduled service, the flight will depart when you want it to. You are also able to choose which cities you fly to and from. Charter Flights are particularly convenient when you need to travel to a city where scheduled airline service may require multiple connections or layovers before you reach your destination.
Charter operators own or manage private jets for multiple clients. Like traditional flight departments, charter companies handle all aspects of aircraft operation and maintenance. However, they are not aligned with just one corporation. They manage aircraft for a private owner or corporation and also handle the sales of available flight time on the aircraft they own or manage. Maintenance services can also be provided which typically include on-site or mobile repair, major and minor routine inspections, troubleshooting assistance away from base, avionics installation and repair, jet engine and battery service, interior modifications and refurbishment, Inspection Authority (IA) qualified inspectors, aircraft planning and budgetary projections, compliance with service bulletins, aircraft storage management, record keeping and management, technical appraisal of private jet purchases, leases and lease terminations, and Part 91 or Part 135 conformity inspections.