Private Executive Jet Options for Europe
| Private jet travel is taking off in continental Europe, having been popular with North American business travellers for many years. A big driver to this has been the ever increasing congestion and security issues at commercial airports. |
Business jets offer quick boarding at nearby airfields, enhanced safety and security, first-class comfort and time-saving flexibility that allows for multiple stopovers in a single day.
Note, for UK based travellers read our article: Private Jets UK
Purchase of a Business Jet Aircraft
This is a viable option if you intend to fly more than 500 hours per annum. Private jets can be bought directly from the jet manufacturer (such as Bombardier, Raytheon, and Dassault) or via an air broker (such as UniJet in France, HiFly in Italy). You will need an management company to look after the aircraft including certification, maintenance, hangar rental, pilots, crew, catering and of course insurance. One such company is Global Jet Concept is based in 6 European countries.
When you are not using the aircraft it can be rented out to third parties bringing in some extra revenue to help cover the running costs.
A top of the range executive jet such as the Gulfstream 550 can set you back over €30 million, whilst the next generation of very-light jets (VLJs) will cost around €1 million. Consider how many passenger seats you will need and where you have to travel.
There is also a market for used business jets, but remember maintenance costs will be higher for older jets.
Fractional Ownership
NetJets Europe is the market leader and provides a fractional ownership program where you buy the right to a minimum of 50 hours per year (1/16th share) in a business jet with guaranteed availability over 5 years. You also pay a fixed monthly management fee and some variable extras such as fuel, landing charges and maintenance costs. NetJets guarantee the repurchase of the share at the end of the 5 years or at any point after 2 years at fair market value.
For example, a 1/16th share in a Citation Excel will set you back around €300K, with annual running costs of €230k.
Block Hours
If fractional ownership is too much of a commitment then consider the purchase of an annual 'block' of hours for use of an executive business jet. For example, for around €120K NetJets Europe will offer you 25 flying hours on a Citation Bravo aircraft (10 hours notice period) via their Marquisjet card program which lasts 24 months.
Bombardier's Skyjet International offers a similarly priced program - the Jet Membership card with 25 annual flying hours (8 hours notice). Alternatively they have a 'Frequent Traveller' program if you need to fly less than 25 hours.
Single Jet Charter - If you need to fly on a very irregular basis then single use charter is your best option. There are many jet charter companies based in the Europe who will provide a chartered plane on short-notice, usually from 2 hours in advance.
A few European air charter operators are: Flighttime Charterflug (Germany), AeroDienst (Germany), MasterJet (Portugal, France), Executive Airlines (Spain), PrivatAir (heavy jet specialist in Switzerland), AirLink (Ireland), AbeLag (Belgium). An interesting development is that Lufthansa will soon announce its own private jet service - the first major airline to do so, it will be able to better serve its top-end customers and integrate flights with its scheduled services.
A same-day return journey is the most cost-efficient way to use jet charter - for a group of travellers it can often be cheaper than full fare business class returns on scheduled airlines. You would also save between 3-5 hours in airport waiting times.
If you are considering private jet travel then you should do a full cost-benefit analysis with a qualified professional.
If you are travelling from the UK and need more information on UK jet charter options, you should consider our UK Private Jet Charter Directory which lists the major jet charter operators, brokers and block hour providers in the UK.
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