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, enhanced safety and security, first-class comfort and time-saving flexibility that allows for multiple stopovers in a single day. Over 1,000 airports are available for travel by private aviation across Europe and Russia, giving a much wider choice of destinations than those served by scheduled airlines.
Purchase of a Business Jet Aircraft
This is a viable option if you intend to fly more than 400 hours per annum. Private jets can be bought directly from the jet manufacturer (such as Bombardier, Cessna and Dassault) or via an air broker. 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 that does sales, acquisition and management is Global Jet Concept is based in Switzerland, France, Monaco and Luxembourg.
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 €40 million, whilst the next generation of very-light jets (VLJs) will cost from around €2 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. For more info read our guide to buying a private jet.
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 hourly flying 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 (determined by them).
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 €130K NetJets Europe will offer you 25 flying hours on a Citation Bravo aircraft (10 hours notice period) via their Corporate 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.
AirPartner's JetCard offers 25 hours in a light jet (up to 6 passengers) for €128K. A long range jet (up to 14 passengers) costs €385K per year.
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.
There are almost 1,000 aircraft operators across the continent. A few European air charter operators are: AeroDienst (Germany), MasterJet (Portugal, France), Executive Airlines (Spain), PrivatAir (heavy jet specialist in Switzerland), AirLink (Ireland), AbeLag (Belgium). An interesting development is that Lufthansa has started its own private jet service - the first major airline to integrate private aviation with first class scheduled services - with the benefits of their Miles & More frequent Flyer program.
Air Taxi service Blink (run by TAG Aviation) offers cheaper charters across Europe for up to 4 passenger in VLJ Cessna Citation Mustangs - the range of the aircraft is 1,300 miles (2,000km) with 2 passengers, and 900 miles (1,440km) with 4 people on board. Day returns range from €2,300 to €6,600. Blink are based in Farnborough, Channel Islands and Geneva.
If you are considering private jet travel then you should do a full cost-benefit analysis with a qualified professional.
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