Aircraft Management: What It Involves
Buying an aircraft is only the beginning. Once you have an aircraft either for private or business use, you will need to ensure it is properly maintained to keep it in good working order. Aircraft management can be costly, so it is worth knowing what is involved before you buy an aircraft.
The Importance of Aircraft Management
Airplanes are incredibly expensive items, and they are also highly complex. They need to be looked after properly, and safety is the number one concern. Proper management provides you with peace of mind that your purchase is in safe hands, as well as ensuring that passengers remain safe while flying. You will also be looking after your investment by ensuring it lasts longer.
Factors that Affect the Cost of Aircraft Management
Aircraft management can involve a large cost on your part. When you purchase a plane, the purchase price is only the first thing to consider. The operating costs are large for most planes, especially large aircraft, if you want to ensure it is kept in good working order.
There is no way to determine the exact cost involved because it depends on a range of factors:
- The size of the aircraft
- The model
- Its complexity
But even more important is how far and how often the plane flies, which will determine how expensive your management costs are.
You will typically pay a monthly management cost that covers all the typical fight department operations, and you will also have to pay for a hangar. Then there are other costs involved with running the aircraft such as fuel and insurance, all of which should be considered at the time of purchase.
Of the total operating expenses, the maintenance costs will often make up anything from 10 per cent to 40 percent or more.
Thinking of Buying an Aircraft?
If you are thinking of buying an aircraft, Aeroclassifieds has hundreds of listings that can meet your commercial or private use for your aircraft. Fill out our online contact form and we will reply as soon as we can.
Choosing a Provider
If you own an aircraft for personal or business use, this is something you must consider. Who you choose depends in part on how you will use the aircraft. For example, is it purely for personal use or for business? Also, will you use it all the time, or will you use it for just a few flights a year and then charter it out?
First of all, work out whether this is a cost you are happy to pay. Many people will know about the cost of buying a plane, but they do not take into account how much it will cost to run it.
Look for service that provides high quality management and has a good reputation and a lot of experience. Also look at what their speciality is. Some may specialise in smaller private jets, others in larger commercial planes. Look at their strengths, and then match them to your own requirements.
Also check independent audits because the results of these can be very revealing.
Finally, make sure you are happy with the cost. How much are you willing to pay? If a service is more expensive, why is this? What are the extras they will provide? Don’t go with the cheapest you can find unless they provided everything you need.