FLYING PRIVATE COULD MAKE MORE FINANCIAL SENSE

Contrary to the general notion around business aviation industry, owning or chartering a private jet has notably been a more viable option in view of economic efficiency of the businesses

- AYUSHEE CHAUDHARY

LUXURY, OPULENCE, GRANDEUR, EXTRAVAGANCE, MONEY ARE some of the terms that come to our mind the moment we spot or think about a private business jet. Owning a business jet has always been looked at as a very wealthy person’s affair. We often assume that it’s mainly meant for only celebrities or rich businessmen who have too much money to spend. However, what if we told you that business jets could actually make better financial sense even if the ownership amounts to millions and millions of dollars? It doesn’t sound quite right, isn’t it? Let us help you understand the above statement better and give you reasons why owning a private jet is not just about having those extra pennies to spend, especially for companies.

The ownership of a private jet has often been overpowered by societal explanations rather than the economic ones. However, the advancement of globalisation has been seemingly beneficial for the private jet market as businesses are now required to travel far off places and reach out beyond their local area. Especially as more and more companies are beginning to outsource manufacturing and other operations into developing countries, which don’t necessary have much air service, many companies have determined that private jets are a better way to get where they need to go.