Boeing B777 client spent $200mn on VVIP refurb
Fabrizio Poli and Geoff Andrews, both managing partners Tyrus Wings, also say they see more people flying privately because of fear of terrorism.
22 June 2016
Edward Leigh, senior manager, aviation, Equiom, says that companies offering fixed fee services bring more choice to clients and this sector is set to grow and expand in Europe. There are certain compromises such as the routes available, plus the flights may be shared with other members which mean the flight is not really a ‘private’ jet.
Is chartering taking over from purchasing?
No. Clients continue to buy aircrafts, particularly when they use it for more than 250+ hours per annum. Below this figure, chartering or fractional ownership is more popular.
Tell us about chartering apps?
Like Uber, apps such as Victor, Ubair and JetSmarter have changed the air charter market and will continue to take market share.
What about fixed-fee jet use?
Companies offering fixed fee services bring more choice to clients and this sector is set to grow and expand in Europe. There are certain compromises such as the routes available, plus the flights may be shared with other members which mean the flight is not really a ‘private’ jet.
How many private jets do your clients have?
The majority of our private clients have one aircraft and they would lease or charter another aircraft when required. However, our corporate clients typically have several aircraft in their fleet.
How much money do your clients spend?
It depends on several factors such as number of passengers, the operating area, and budget. Many of our clients opt for mid to large size aircraft and spend anywhere between $15m to $80m.
What trends do you see?
Private aviation in Europe has become expensive. With the recent introduction of Part NCC which means private jets will have to adhere proportionately to the same requirements as commercial air transport and the Union Customs Code which will implement new custom rules. It means owners will need specific VAT advice. Some service providers are also applying for Authorised Economic Operator status which means they have pre approval from Customs administration for the movement of goods.
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