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 time-saving 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 500 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 £20 million, the new generation of very-light jets (VLJs) can set you back as little as £700,000.
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 Citation Excel will set you back around £200K, with annual running costs of £150k.
Block Hours
Even
more affordable are companies selling annual blocks of hours for use of an executive
jet. For example, for £79K NetJets Europe will offer you 25 hours on a Citation
Bravo at 10 hours notice through their Marquisjet card program over a 2 year period.
Bombardier's Skyjet International offer a similar 25 hour block scheme with
their Jet Membership card giving access to 900 aircraft and 5500 airports worldwide
from as little as 8 hours notice. AirPartner's JetCard offers 25 hours for around
£65K.
Club 328 has a quirky block program where you deposit £1 million into an escrow account in exchange for 25 hours flying time per annum over 6 years. At the end of the period the £1 million is returned to the customer. Obviously the customer pays for the block by the interest foregone on the principal, and should also consider the loss from inflation.
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 Club 328 in Southampton, BookaJet and TAG at Farnborough, Air Partner at Biggin Hill in Kent, Twin Jet at Luton, Northern Executive at Manchester, Air Charter Scotland at Prestwick.
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 just over £3250 for the day. Compare this with 8 full fare Club Class return tickets with British Airways at £485.40 (Total for 8 passengers = £3883) and you can see this is good value, not to mention the time saved on checking in and waiting for a commercial flight.
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.
When considering private jet travel always do a full cost-benefit analysis with a qualified professional.
For more information on UK jet charter options, you should consider investing in our UK Private Jet Charter Directory which lists the premier jet charter operators, brokers and block hour providers in the UK.
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