Though the early Lockheed Jetstar had four, most production business jets have two jet engines, mostly rear-mounted podded engine. If mounted below their low wing, it wouldn't allow sufficient engine clearance without a too long landing gear. The HondaJet is the exception with its over the wing engine pods. Dassault Falcon still builds three-engine models derived from the Falcon 50, and the very light jet market has seen several single-engine design concepts and the introduction of the Cirrus Vision SF50 in 2016.
In the United States, business aircraft may be operated under either FAR 91 as private operations for the business purposes of the owner, or under FAR 135 as commercial operations for the business purposes of a third party. One common arrangement for operational flexibility purposes is for the aircraft's owner to operate the aircraft under FAR 91 when needed for its own purposes, and to allow a third-party charter-manager to operate it under FAR 135 when the aircraft is needed for the business purposes of third parties (such as for other entities within the corporate group of the aircraft's owner).
With a dry lease, the lessor provides the aircraft without crew. These arrangements are favored by leasing companies and banks, and require the lessee to put the aircraft on its own AOC and provide aircraft registration. Dry leases usually cover a term of no less than two years. Lessees must comply with conditions regarding maintenance, insurance, and depreciation, and other requirements that may be affected by geographical location, political circumstances or other factors.
There are two major differences between private charter and scheduled airline service: cost and flexibility. While booking a flight via jet services companies is generally more expensive, they provide a much higher degree of flexibility. With Pentastar Aviation Charter, Inc. your charter will fly on YOUR schedule to the domestic or international destination of YOUR choice. Our service to both major and general aviation airports gives you access to more than ten times as many domestic destinations as scheduled airline service. In addition, we have international experience operating in more than 80 countries.
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.
Operating leases are generally short-term (less than 10 years in duration), making them attractive when aircraft are needed for a start-up venture, or for the tentative expansion of an established carrier. The short duration of an operating lease also protects against aircraft obsolescence, an important consideration in many countries due to changing noise and environmental laws. In some countries where airlines may be deemed less creditworthy (e.g. the former Soviet Union), operating leases may be the only way for an airline to acquire aircraft. Moreover, it provides the flexibility to the airlines so that they can manage fleet size and composition as closely as possible, expanding and contracting to match demand.
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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.
On 1 April 2017, there were 22,368 business jets in the worldwide fleet, of which 11.2% were for sale. 5-year old aircraft residual value level is at a 56% of the list price. 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.