How can these and other similar companies afford to offer such low rates? One reason is that sites like JetSuite.com are offering seats on flights that would have been empty or at least not full. “Over 40% of flights that are flying private have empty seats,” says Steve King, the co-founder of private jet charter company AeroIQ. Many times, these flights are simply repositioning so they can pick up passengers in another city and the companies would rather get some money from passengers than no money.
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.
Because jet charter is not priced on a per person or ticket basis, it is not likely that it would be more cost effective for a group of 10-15 individuals to charter a jet compared with flying via scheduled airline service in coach or first class. Even if the total cost for a charter trip is split among 10 people, the cost each person would cover would still be significant.
Charter Jet One assessment of prospective carriers includes an evaluation of each jet’s crew, including flight concierge, pilots and flight attendants. Servers onboard a jet chartered by CJ1 are experienced professionals in the field. They are discreet, attentive, hard-working and as visible as you would like them to be. We are confident you’ll be satisfied with our corporate concierge services.
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.
Currently, approximately 10 percent of the worldwide fleet of private aircraft is for sale. That serves to keep prices down; however, the projected decrease in new private jet deliveries could bring an uptick in transaction prices on preowned aircraft, particularly over the next 2-3 years. Aviation consultants and industry professionals have also reported seeing a recent rise in the number of first time private plane buyers brought into the market by today's bargain prices for private jets.
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.
For the decade starting in 2017, Aviation Week predicts 11,346 deliveries of business aircraft (jets or not) valued at $250.1 billion, with a fleet growing from 31,864 aircraft to 36,702 aircraft (64% in North America): 4,838 more at an average annual growth rate of 1.6%, with 5,835 retirements. For the coming five-year period, Textron Aviation should lead the market with a 22.8% market share, followed by Bombardier with 20.4%, Embraer with 16.6%, Gulfstream with 15%, Dassault with 8.4% then the rest of manufacturers with 16.9%. There should be 22,190 Engine deliveries, led by the Honeywell HTF7000, Williams FJ44, Pratt & Whitney Canada PT6A Medium, Pratt & Whitney Canada PW300 and the Pratt & Whitney Canada PT6A Large. The average utilization should be 365 flight hours per aircraft per year.