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).
Finance leasing is attractive to the lessee because the lessee may claim depreciation deductions over the aircraft's useful life, which offset the profits from the lease for tax purposes, and deduct interest paid to those creditors who financed the purchase. This has made aircraft a popular form of tax shelter for investors, and has also made finance leasing a cheaper alternative to operating leases or secured purchasing.
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A public charter is one in which a tour operator rents the aircraft and advertises and sells seats to members of the public, either directly or through a travel agent. In the case of public charters, the flight must be filed with the U.S. Department of Transportation, and the tour operator must supply a charter prospectus. The tour operator also must assume a legal responsibility to provide the transportation service, and must abide by DOT requirements for the protection of the clients' money. Public charters often operate only seasonally, and are often sold as part of a vacation package deal, although spare seats may be offered at bargain prices.
When it comes to small planes, weight matters. Don't be surprised when your contact emails you for all passenger weights, and when the pilot organizes seating by weights. (You don't want the three biggest people on the right side, for instance.) Similarly, don't expect to bring two weeks of stuff for a weekend, and definitely mention if you're planning on bringing golf clubs or skis. If they don't fit, check out ShipSticks or LuggageForward, which sends your equipment beforehand for a relatively small fee.
Over the past several years, global economic conditions led to record levels of pre-owned private aircraft listed for sale, ranging from smaller, propeller-driven airplanes to the largest, most advanced, and most luxurious intercontinental business jets. This truly resulted in a ‘buyer’s market,’ with purchasers able to select from a high number of quality aircraft, often for comparatively low prices.
About 70% of the fleet was in North America at the end of 2011. The European market is the next largest, with growing activity in the Middle East, Asia, and Central America. In 2015 the total airplane billing amounted to US$21.9 billion, and 718 business jets were delivered to customers across the globe : 199 (27.7%) by Bombardier Aerospace, 166 (23.1%) by Cessna, 154 (21.4%) by Gulfstream Aerospace, 120 (16.7%) by Embraer and 55 (7.7%) by Dassault Falcon.