Private Executive Jet Options for UK Travellers
| Executive jet travel is becoming ever more popular in the United Kingdom. In light of the new security arrangements at airports, private jets offer conveniently quick check in, safety and security, first-class comfort and timesaving flexibility... |
The UK has almost 300,000 private jet movements per year, and the busiest airport for executive jet travel is London Luton, with over 16,000 movements per annum. Infrastructure is improving and includes plans to develop a state-of-the-art facility at Biggin Hill in Kent. So, what options does the UK business traveller have when it comes to executive jets...
Outright Purchase of a Business Jet
If you fly more than 400 hours per year, this is probably your best option. A private jet can be bought directly from a jet manufacturer, or via an air broker. You will need an operator to fully manage the aircraft which covers certification, maintenance, pilots/crew and insurance. When not in use the aircraft can be chartered out to third parties. While a top-end executive jet like the Gulfstream 550 can run well in excess of £40 million, the new generation of very-light jets (VLJs) can set you back as little as £1.8m. For more info read Buy your Own Jet.
Fractional Ownership
NetJets Europe offers an ownership share program where you purchase the right to a minimum of 50 hours per year (1/16th share) in a business jet with guaranteed availability over a 5 year period. On top of this comes fixed monthly management fees and some variable extras such as fuel, landing fees and maintenance. NetJets guarantee the repurchase of the share at the end of the 5 years or at any point after 2 years at the fair market value.
For example, a 1/16th share in a Hawker XP will set you back around £300K, with annual running costs circa £200k.
Block Hours
More affordable are companies selling annual blocks of hours for use of an executive jet. For example, for around £100K NetJets Europe will offer you 25 hours on a Citation Bravo at 10 hours notice through their Corporate card program over a 2 year period. Skyjet International offer a similar 25 hour block scheme with their Jet Membership card giving access to 900 aircraft and 5500 airports world-wide from as little as 8 hours notice.
AirPartner's JetCard offers 25 hours in a light jet (up to 6 passengers) for €128K. A global range jet (up to 14 passengers) costs €385K.
Single Jet Charter - Much like renting a car, there are a number of jet charter companies based in the UK which will provide a chartered plane on short-notice, from 2 hours in advance. Air charter operators in the UK include BookaJet and TAG at Farnborough, Air Partner at Biggin Hill in Kent, Twin Jet at Luton, Centreline Air at Bristol, AD Aviation at Liverpool, Air Charter Scotland at Prestwick. Airlink Airways Ltd (Private Sky) is an Irish operator.
While hiring a Boeing Business Jet or Airbus A319CJ will cost around £10,000 per flying hour, flying on one of the smaller planes can be good value. An eight seat charter from London to Amsterdam return will set you back around £4,000 for the day. This price can compare favourably to booking last minute business class tickets, not to mention the time saved on checking in and waiting for a commercial flight. For cost comparison see Private Jets v Business Class.
Private jets can be cost effective for the UK business traveller and we are seeing increased use in leisure travel. One can reach the Med door-to-door in under 3 hours, compared with 6-7 hours by normal scheduled airlines. While not for the masses, this is a serious option for high net worth individuals and UK executives.
London Executive Aviation (Farnborough) has a fleet including Cessna Citation Mustang VLJ which is around 30% cheaper to charter than normal jets.
Another company using VLJs is TAG Aviation's "Blink", which calls itself "Europe's first air taxi service". Using a large fleet of Citation Mustangs with 4 seats, you can purchase a one-way flight or day return. London to Paris will cost £1,999 one-way and £2,199 day return. London to Milan costs £4,199 one-way and £4,599 day return. As you can see, day returns are the most cost effective use of jet charter.
Empty Legs are an additional way of saving up to 75% of normal air charter costs.
When considering private jet travel always do a full cost-benefit analysis with a qualified professional. Note, prices can change.
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