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Africa's Ultra Rich More Likely to Own a Private Jet

Posted by Emilton on September 24, 2016 at 11:45 PM Comments comments (1)


Fundamental concerns by ultra-high-net-worth individuals (UHNWI) about preserving generational wealth have become more pressing than ever, according to the 2016 Knight Frank Wealth Report, launched in SA on Tuesday in partnership with Standard Bank Wealth and Investment.

 

The decade of research for the report found that the world of the wealthy is changing. Women are becoming more active in managing family wealth, children are encouraged to get involved in family businesses at an earlier age, and it is more likely that family wealth created by the first generation will be lost or dissipated by the second generation.

 

“Around the world, worries about this loss of wealth between generations are most likely to cause sleepless nights for UHNWIs. Fifty-two percent of respondents said they did not feel that their children would be encouraged to make their own wealth. Almost half added that their children would not know how to handle the investments,” said Tony Galetti, CEO of Galetti Knight Frank.

 

Andrew Shirley, editor of The Wealth Report, added that privacy, having the time to spend with family and friends and having one of a kind experiences are highly valued commodities by the world’s ultra-wealthy.

 

“Owning asset classes such as yachts offers access to all of this. We already see in our Luxury Spending Index, the high proportion of yacht ownership in the Pacific region,” said Shirley.

 

Deon De Klerk, Head of Africa and International for Standard Bank Wealth and Investment, explained that what has changed over the last decade is that it is now the second generation, rather than the third, which is likely to lose a family’s hard-earned wealth.

 

“Although the younger generation are being encouraged to become involved in the family business at an earlier age than ever before, there is no certainty that this strategy will succeed within UHNW families,” said De Klerk. Research shows that about 66% of children are not inspired to join the family business.

 

Property’s lure

 

Across Africa, the majority of investors actively seek international diversification, with a strong emphasis on the acquisition of property.

 

The results of the Knight Frank Prime International Residential Index (PIRI) showed that the value of the world’s leading prime residential market prices rose by an average 1.8% during 2015, with Vancouver in Canada leading the rankings by a significant margin. Prices in the city accelerated by nearly 25% during 2015.

 

Factors contributing to Vancouver’s performance were a lack of supply and foreign demand, spurred by the weaker Canadian dollar.

 

A look at Africa on the PIRI “Top 100” showed that Cape Town occupied the 13th position with an annual increase of 6.9%; Johannesburg came in at the 26th spot with an annual increase of 4.0%; Nairobi occupied the 33rd position, recording growth of 2.9% and Lagos occupied the last spot, coming in 100th, with property prices dropping by 20%.

 

The value offered to international buyers in Cape Town can be seen by comparing costs with Monaco, which, for the ninth consecutive year, was named as the world’s most expensive city in which to buy luxury residential property.

 

In Monaco, $1m (about R15.4m) will buy just 17m² of accommodation. Hong Kong and London occupy second and third place offering 20m² and 22m² respectively for $1m. In Cape Town, however, that $1m will buy 255m².

 

Luxury spending

 

The report indicates that the UHNWIs in Africa and Latin America show a much stronger propensity for private jet ownership than the global average. Poor commercial travel infrastructure within the regions combined with significant travel distances between business hubs on each continent seems to have contributed to this high demand.

 

The report highlights that within Africa the number of UHNWIs with luxury cars is 1.55 times the global average. Although wealth in Africa is extremely concentrated in certain countries, there is a growing potential for luxury brands including high-end auto marques.

 

It is highlighted that African parents, much more than other continents, over the past ten years have sent their children overseas for their education purporting that it is for better education and to broaden their perspective.

 

The report found that, although most markets, with the exception of South Africa, remain small by international standards, modern property development has gathered pace and the stock of investment-grade commercial property has increased.

 

“Large, fast-growing cities, such as Nairobi, Lagos, Dar es Salaam and Luanda will continue to offer the clearest investment opportunities. The growth of Africa’s consumer class will create opportunities for further development in the retail sector,” said Shirley.

 

“The logistics sector should also emerge in importance, particularly in key gateway locations such as Lusaka, Zambia.”


Source:  Business Tech


Debunking 5 Common Myths About Private Jet Travel

Posted by Private Jets For Sale on September 16, 2016 at 5:10 PM Comments comments (0)

Private jet travel can improve the entire flight experience in countless ways. Whether you are traveling for business or for pleasure, flying private can help you to avoid the headaches of the airport while enjoying a peaceful and comfortable trip. Unfortunately, there are several myths swirling around private travel that deter many from booking their flight.



Myth #1: Private Travel Comes with Fixed, Ultra-High Costs

 

The most common myth about private flying is that it is only accessible to the ultra wealthy. However, private flights can be a worthwhile investment for corporations and business travelers when you consider all of your options. Specifically, private membership options for the frequent travelers can be a much more financially-responsible choice than continuously chartering flights.

 

 

Myth #2: Destination Lists Are Extremely Limited

 

Private jets actually have access to a number of airports throughout the world that commercial jets are not allowed to use. There are many fixed base operators, more commonly known as FBO’s, which are private jet terminals located at airports. FBO’s offer a number of services and have access to more destinations that some commercial flights may not be able to fly to. This means that some small islands and remote areas that may not be accessible to commercial airlines can be visited when you fly private. If you have a favorite destination in mind this summer, chances are good that you can find a company offering private flights to this FBO.

 

 

Myth #3: It’s Cheaper and More Convenient to Own Your Own Jet

 

There are advantages to owning your own private jet, but cost is not one of them unless you fly almost daily. Owning your own private jet means that you are responsible for purchasing the aircraft, maintaining jet insurance on it, paying to store it, paying for repairs, fueling it, and obtaining any necessary certifications to meet regulations. Magellan Jets offers many membership programs and charter flights to help you ensure your physical assets and offer convenience of flying on your exact aircraft when yours is down for maintenance or otherwise not available.

 

 

Myth #4: Flying Commercial Is Faster Than Flying Private

 

Private travel is usually faster because the planes used can reach higher speeds. Flying private also saves travelers many hours because of the nature of the security protocols. While security checks are still needed to ensure the safety of the passengers, pilot, and crew, passengers do not have to wait in long lines and some can board right from their vehicle. Even when flying out of a commercial airport, private flyers generally have to go to a different area for security checks, where the process is faster and easier.

 

 

Myth #5: Booking a Private Jet Flight is Arduous

 

The internet and the expanding market for private jet travel have worked together to make booking a private flight much easier than it was in the past. Some companies offer booking via apps and websites that can be used to price and book flights. At Magellan Jets, we offer 24/7/365 dedicated private aviation consultants and in-house Flight Support team to provide guidance and personal assistance to business corporations and individual travelers.


Source:  Magellan Jets

What it's Really Like to Fly in a Private Jet

Posted by Private Jets For Sale on September 11, 2016 at 5:10 PM Comments comments (0)


I'm lounging on a leather sofa in a Gulfstream G450, sipping champagne and dining on fresh curls of smoked salmon, as the small luxury jet cruises through clear, blue air, well above the polluted skies between Shanghai and Beijing.

 

It's not a dream. After years of wondering what it might be like to fly on your own jet, I've lucked out with an invitation to fly to Beijing to check out the renovations to the Peninsula Hotel in China's capital.

 

My companions are five other travel journalists and the Peninsula PR team. I don't need to play it cool and control my excitement – the other journalists have never been on a private jet either.



So it's OK to act like a kid on her first merry-go-round ride. Except that this one comes with a flight attendant, three pilots and a speed of 800kmh, the same as a commercial 737

Just to be totally pretentious, we've been driven to Shanghai airport in the Peninsula's Rolls-Royces. We circumvent the main airport before arriving at a separate VIP holding area. Here, our luggage is transferred directly to the plane. We're shown to a lounge with coffee and tea making facilities, and a car-size display of faux flowers. There's no champagne – yet.



Our passports are also taken: we don't need to worry about immigration. After a while, we go through a security screening (no lines, no waiting) and board a minibus, which has a red carpet emblazoned with "Thursday", just in case we forget what day it is. (When we come back the next day, it says "Friday".)

 

I'm missing something and for a moment I wonder what that might be. Finally, I realise: this scenario is not complete without a small white dog tucked under my arm. I have the big sunglasses.

 

We travel for a while around the tarmac, past dozens of private jets – 2016 is the first time China has overtaken the US in the number of billionaires, (568 v 535) and a few of them clearly park their jets here. Air Charter Service, which charters many jets in China, says the problem these days is getting a take-off and landing slot in Chinese cities. Hong Kong has an average of 25 private jets touching down daily.



We have our slot and the pilots and flight attendant greet us at the plane, which is trim and pointy-nosed like a fighter jet. We board after they indulge us with time to take lots of photographs of each other.

 

Inside, the jet is all caramel leather and burled walnut. It's not claustrophobic, as I feared. There are two couches, seating four, and another eight individual chairs, which swivel, I discover when I play with a lever. (Many giggles from the others). There's a TV screen in the arm-rest and a large pull-out table for dining or working. The windows are oval with folded blinds, which have graduations of light control.

 

Four of us opt for the couches, as it's a novelty, but when we take off, the force of the jet pushes us sideways. The thrust is incredible, as is the taxiing time – about 20 seconds by my reckoning. (I might be wrong about this, but it was quick.) Yet it's whisper-quiet inside.



I move to a chair for lunch, which is three courses, served with Christofle cutlery and the obligatory champagne. We pass through some weather, but the flight doesn't seem any bumpier than if we were on a 737. It's remarkably smooth. I'd always worried about travelling on small planes like these, but they're steady as bullets.

 

When I get up to go to the loo, which is at the back, it takes me a while to find it. It's hidden under a padded seat, like a throne. That seems appropriate.

 

The best thing is, four of us get a return flight to Shanghai, with a Chinese banquet catered by the Peninsula and more champagne.



How much would this cost me if I took a few friends to Beijing from Shanghai? The people at Air Charter Services, a 25-year-old family business, tell me it would run to about $3000 one-way.

 

Hmm. It's not likely to happen again in my lifetime. But I've been spoiled forever.

Lee Tulloch travelled courtesy of Peninsula hotels


Source:  Stuff

What You Need to Know on a First Trip on Private Jet

Posted by Private Jets For Sale on September 10, 2016 at 5:10 PM Comments comments (0)



As private jet travel becomes more affordable to the masses with subscription-based and Uber-style on-demand services — not to mention private jet companies offering jet-like public charters — many fliers are pondering a switch from commercial service. With more first-time private plane fliers heading into the skies, it’s important for travelers to know what to expect — and how to behave — on a private plane. We asked industry experts to share their top tips.

 

1.Understand parking etiquette

 

When chartering a private jet you can typically drive right up to the aircraft to easily load your luggage and board, with your car being parked or stored until your return. Denise Wilson, founder, president and CEO of Desert Jet, notes however that there is certain etiquette to follow:

 

“Set your wheels opposite the aircraft, set the car in park and set the parking brake to prevent it from rolling into the airplane. I’ve personally witnessed, more than once, a driver exit the car and the car start rolling slowly towards the aircraft!”


2. Limit your luggage

 

You may think that when you’re spending more for your flight experience you can bring more, but this isn’t the case. Wilson explains many jets have luggage limits due to the size of the luggage compartment door, or weight restrictions based on how many people or how much fuel is required for the flight. According to Wilson, most small jets fit about seven roll-aboard suitcases similar to a commercial airline’s carry-on bags. If there’s just one person flying there won’t be an issue, but if you have a full group it can become one.

 

Nick Tarascio, CEO of Ventura Air Services, adds it’s helpful to bring soft bags to help alleviate issues with the odd shapes of aircraft baggage compartments. “If you show up with rigid bags, you set the pilots and ground staff up for a game of Tetris as they try to figure out how to fit your bags into less-than-ideal cabinets and baggage compartments. Soft bags will give you the best chance of preventing any of your bags from having to be shipped to your destination.”


3. Avoid the red wine

 

There’s no need to sneak alcohol onto a private jet, as it’s legal to bring your own booze on board. The FAA rule states only that alcohol must be served by the flight crew.

 

Advises Wilson, “Let your crew place your alcohol on ice and stop sneaking it onboard. Just remember that red wine is to be avoided on most private jets due to possible spills during turbulence and the high cost to replace interior components that become stained.”

 

Speaking of wine, Andrew Collins, president and CEO of Sentient Jet, advises fliers to think of getting invited on a private jet as akin to receiving a dinner party invitation — meaning it’s nice to bring a gift, such as a bottle of wine, as a thank you gesture.

 

4. You still need identification

 

One perk of flying private is you won’t need to wait in a TSA security line or adhere to liquid restrictions. That being said, Greg Richman of Skyjet notes you’ll still need your ID to board. A driver’s license works for domestic, and a passport for international.

 

5. Know there is one assigned seat

 

Richman also explains that, while private jet fliers don’t have assigned seats, they can’t completely sit wherever they want. He says, “The only assigned seat on a private jet is that of the owner or the person paying for the trip. Guests should wait for the owner or leader of the group to choose his/her seat first.”

 

6. It’s courteous to tip your pilot

 

There are many differences between a commercial airline pilot and a private jet pilot. According to Tarascio, many jet pilots don’t earn as much as you may think, not to mention that along with flying they also load the bags, clean the plane and spend considerable time planning all aspects of the flight. If you’re happy with your service, offering a tip — he’s seen anywhere from $20 to $1,000 — is a nice gesture.

 

7. Your departure time is flexible

 

Running late? While you shouldn’t change your departure time if you don’t have to — the pilots are waiting at the airport for you, after all — if an issue arises you typically can change it. Tarascio explains that many companies begin preparing the aircraft an hour in advance, so you can often leave early, as well.

 

He advises fliers to “notify the company of your time changes, if more than 15 minutes, instead of showing up early or late without giving any heads up. The staff will appreciate that greatly and you'll have a better departure experience.”

 

But be advised that while private flying is more flexible with departure times than commercial airlines, some companies have an automatic cancellation policy if you’re over an hour late, while others will be okay with waiting around for a few hours, so review your contract terms to be sure.

 

8. It’s best to book in advance

 

Yes, most private jets can be booked the same day; however, this doesn’t guarantee you’ll get the jet you want. Danielle Talbott, regional vice president of sales at XOJET, notes that while their clients can book within 12 hours of their desired departure time, giving the company more time to work with means more choice in aircraft, an important part of the experience.

 

She explains, “Choosing the right aircraft for the right purpose depends on several factors. For business travelers, clients are seeking to maximize their workday and minimize travel time. This might mean a specific aircraft type with short-runway performance that can operate at a small airport close to the location of an important meeting. Or it could mean an aircraft with Wi-Fi to continue working onboard. For many XOJET clients flying coast-to-coast across the country, the speed of the Citation X ... cuts off 30 minutes or more in flight time. Again, it comes down to convenience and efficiency. For personal and family travel, it’s really a matter of personal preferences but factors like pets and luggage can come into play in addition to general considerations like size and comfort of the cabin.”

 

9. Dress appropriately

 

While there isn’t a formal dress code for private flying, Collins advises keeping in mind you’re representing your host in a certain way as a guest, and should dress accordingly. He suggests business or business casual attire, though specific recommended attire is situational.

 

“If you are flying private on your own flight or flying as the guest of a friend or relative, you still want to make sure to dress neatly, but nice jeans are likely fine,” explains Collins. “If you are traveling with a client or business associate, however, you may want to dress a bit more formally depending on the individual. For families, more casual attire also acceptable, though children and young adults should still avoid overly casual dress such as sweatpants or gym clothes.”


Source:  USA Today

The Future of Flying Private

Posted by Private Jets For Sale on September 3, 2016 at 5:10 PM Comments comments (0)



As the world’s population, cities and settlements grow, travel becomes ever more important. We are increasingly time poor, living in increasingly cramped and complex environments that absorb ever higher levels of resources, yet we expect to move around our planet — for work and play — quicker and more immediately.

 

Technology is catalysing revelatory change within travel, and fuelling a remarkable ‘on-demand’ economy geared around innovative services keeping us on the move as we require. But there is much still to do, particularly within the private aviation space that my business, Victor, inhabits. An increase in the global population of ultra-high-net-worth individuals (UNHWIs) is generating new appetite for private jet travel — dynamic, time-poor individuals operating in highly competitive global environments and seeking an edge through smarter travel. A private jet service, executed well, can help create the ‘eight-day week’ they crave, yet many providers are failing to handle even seven.

 

On-demand private jet charter is booming. Versus other modes of private air travel — fractional or full ownership, ‘jet cards’ and subscription schemes — its benefits are clear. Pure chartering offers travellers better flexibility in terms of time, choice and cost. It offers the widest range of aircraft and no upfront financial commitments, so one can fly as they need.

 

There are suddenly dozens of platforms providing charter but this crowded, fragmented space will soon need consolidation. It’s a key time. The addressable market for private aviation is currently around US$14 billion but brokers dominating traditional charter generate only a fraction of that in revenue each. Working entirely by phone and email, these brokers usually restrict customers to the most basic, opaque detail on aircraft and price so that they maximise their margins. Meanwhile, many of charter’s emerging, so-called ‘digital players’ are struggling to offer a truly integrated platform that might provide the necessary clarity of service to help drive our market on. Longer term, as our market does develop, customers will expect greater clarity and accessibility when booking, and the current numbers of providers will likely prove to be unsustainable.

 

Our industry needs a fair, consistent marketplace, with clearer processes that strengthen relationships between charter companies, operators and customers and create exciting new opportunities. Paramount is a relentlessly focused, interwoven commitment to transparency, technology and customer service. I founded Victor on these principles five years ago and continue to drive them today.

 

Last December, Victor announced a partnership with Etihad Airways, enabling discerning travellers to book not only The Residence and First Apartments on board their luxuriously reimagined Airbus A380s to Abu Dhabi, London, New York and Sydney, but connecting private jet travel — all via the Victor app and backed by expert concierge support. That such entirely end-to-end travel — seamlessly linking private and commercial flights — is now possible by casually tapping the phone in your pocket hints at a future of radically personalised, super-fluid transportation. What once would have taken days to organise is now finalised and at your fingertips in a fraction of the time, enabling faster decisions for business and the things that really matter.

 

Looking ahead, successful private charter has to be more than just A to B. It’s about innovative leadership, the smartest tech, robust enterprise economics, an engaging luxury brand and, above all else, guaranteeing travellers transparency and control.

 

The private jet experience should be liberating. Away from the fixed burden of ownership (full or fractional, where the time and cost of having your jet come out to meet you can prove considerable) and restriction of pre-paid membership schemes (the massive oversupply of planes across Europe and North America begs the question why anyone need tie themselves in to annual subscription), pure, tech-driven, ‘on-demand’ charter lets us fly when, where and how we want. It grants us the luxury of living life to the full — what can be better?

 

Plenty actually. The expectations of private travellers are continually evolving. Our industry is entering a period of turbulent yet exciting growth and change, aligned to the fact that customers are already demanding better visibility of the entire charter process. Hence, a true marketplace is needed where demand meets supply in a way that is utterly seamless, transparent and lasting.

 

Private jets aren’t toys. Chartering them is a conscious choice over flying commercially, for all those reasons of privacy, comfort, productivity and total, time-saving control of route and schedule. The opportunities private jet charter provides to connect with different people, places, ideas and ideals, and advance the world around us, are endless — charterers set their own agendas rather than working to others. That’s an amazing story.


Source:  Billionaire

5 fastest private jets you can own

Posted by Private Jets For Sale on August 29, 2016 at 5:10 PM Comments comments (0)

The latest generation of business jets are quick.

 

Quick enough to shave valuable hours from airline routes while providing extraordinary levels of comfort and customization to the lucky few who can afford them.

 

Each aircraft has its own "mission profile," meaning that customers can choose the best options from a wide variety of aircraft and then make them their own.

 

Today's business aircraft are flirting with the sound barrier, and it seems only a matter of time before technology allows the world's executives and jet-set elite to follow Chuck Yeager into new realms of speed.


 But until that happens, and if going quick is the main goal, then these are the five fastest business jets money can buy right now:



1. Cessna Citation X+


Desperate to shake off a reputation for a lack of speed relative to the rest of the private jet market, Cessna decided to swing for the fences, and in 1996 introduced the very fast Citation X.

 

The latest member of the family, the 2010-launched Citation X+, is the undisputed king of speed, and can sprint at Mach 0.935, making the trip from Los Angeles to New York in under four hours.

 

Sticker price: about $22 million.



2. Gulfstream G650/G500


Customers willing to shell out $65 million and stand the three-year waiting list can have the speedy, luxurious, and long-legged Gulfstream G650.

 

In long-range cruise mode, it can cover 7,000 nautical miles. At full tilt, it will cruise at Mach 0.925.

 

The aircraft first flew in 2009, and it is Gulfstream's largest and fastest jet to date.

 

The slightly smaller G500 will also do Mach 0.925, and has a range of 5,000 nautical miles.



3. Dassault Falcon 7X


One of only two "trijets" currently in production, the $52.5 million Falcon 7X was, when launched in 2005, the first fully fly-by-wire business jet.

 

In 2014, a 7X made a record trip from New York to London in under six hours, an entire hour faster than the average commercial flight.

 

Top speed: Mach 0.90.



4. Bombardier Global 6000


Global 6000 — as in 6,000 nautical miles of range.

 

Los Angeles to Moscow, if you please.

 

At the fastest cruise setting, the "Global Express" will do Mach 0.89.

 

It also boasts an exceptionally long cabin, a "superior stateroom experience" according to the manufacturer, and the option of a full bathroom, including a stand-up shower.

 

An industry standard, the Global 6000 goes for $45 million.



5. Gulfstream G550


The Mach 0.885, $53.5 million G550 can bring the whole boardroom along in sumptuous comfort, with sleeping accommodations for eight or room for a maximum of 19 passengers.

 

It also has a globe-trekking range of 6,750 nautical miles and, like many of the aircraft on this list, it will fly well above most airliners at altitudes over 42,000 feet.


Source:  Business Insider UK

Flying on a Private Jet Is Easier (and Cheaper) Than Ever

Posted by Private Jets For Sale on August 29, 2016 at 5:10 PM Comments comments (0)


Companies like Surf Air, JetSuite, and Tradewind Aviation are leading a new trend to more affordable private jet travel.


If you want fly on a private plane—and who wouldn’t, given the state of air travel these days?—there’s never been a better time. That’s due to the advent of the single-seat booking model, via membership clubs and the like, which is taking off on both coasts and in between. Think of this as a hybrid of private aviation and commercial air travel, with regularly scheduled flights, and per-person ticketing, but with an ambience closer to a Gulfstream than a crowded 737.

 

One major perk? Flying out of a private terminal, which, even if it’s at a commercial airport like Boston-Logan or L.A.’s Burbank, means you can skip clogged security checkpoints, although you will still get screened. You’ll be rubbing elbows with Lear Jet-owning tycoons, not masses of tourists—and you can show up 30 minutes before departure and still make your flight.

 

“Private aviation for the public” is how one company, JetSuite, describes the trend disrupting the prevailing wisdom that private jet travel is the preserve of the “If you have to ask, you can’t afford it” crowd. The company’s newest venture, JetSuiteX, recently began weekday flights between L.A. and the Bay Area as well as weekend trips to Las Vegas, at prices ranging from $109 to $300 one-way on 30-seat jets with business class-style legroom and free Wi-Fi. Flights between San Jose and Bozeman, Colorado are also operating this summer.

 

While it’s not a newcomer, Connecticut-based Tradewind Aviation is now selling single seats on flights from White Plains, about 30 minutes north of Manhattan, to Stowe, Vermont as well as to Nantucket and Martha’s Vineyard on a seasonal basis—all on eight-seat prop jet planes at one-way prices of $350 and $695 plus tax, respectively.

 

There are other signs that this concept may stick around: JetSmarter, a three-year-old Florida company whose founder, Sergey Petrossov, pioneered the concept of a jet chartering app and boasts celebrities like Kim Kardashian as regular clients, also offers a “shuttle” on its private flights on busy routes like New York-Florida. It effectively acts as a ride sharing service with prices well below the roughly $2,000-per-seat cost of a private jet charter for the same trip. JetSmarter is now "members only," with three tiers of membership—the most popular runs $10,000 a year with a $5,000 initiation fee. For that, members receive a free seat on JetShuttle routes in the U.S., Europe, and the Middle East, and can buy extra seats for non-members.


Surf Air, which claims to have started the trend three years ago with flights at San Diego, L.A., and San Francisco, has since spread to seven airports in the American west and recently launched a European operation. In the U.S., the price of admission is around $1,950 a month, plus a $1,000 initiation fee, which, following the Netflix model, lets members hold two reservations at a time in their “queue,” which they can replenish as needed, although some trips might be on a "space available" basis. It flies Pilatus PC-12 turboprop aircraft, not swanky private jets, which can seat up to nine passengers.

 

But the concept has also hit some speed bumps, with several brash upstarts having gone bust this year. Remember Ubair, which promised to make “hailing” a private jet as “easy as the tap of an app?” That one is history after Uber reportedly didn’t appreciate the implied compliment in the company's name. Blackjet similarly had a quick demise, after launching with the backing of some tech industry big wigs and celebrities like Ashton Kutcher. Beacon, which aimed to transplant the successful Surf Air concept to the East Coast, also went under earlier this year. Its founder, Wade Eyerly, one of the original partners in Surf Air, has now landed at Wheels Up, which has carved out a niche with a membership program for flights on a fleet of turboprops and mid-size jets—more modest alternatives to a luxury jet that helps keep the costs down. For a onetime initiation fee of $17,500 and annual dues of $8,500 starting in the second year, users get access to flights on 24-hours’ notice. The planes are based in key population areas around the U.S., such as New York and Chicago—and the company recently launched a shuttle service to Nantucket, with flights from New York and Boston for around $795 a seat, just in time for summer. ? Wheels Up also has a lower-cost option, for $5,950 to join plus $5,950 annually, to get access to the same fleet depending on availability.

  

Source:  CN Traveler

GUIDE: HOW TO BUY YOUR OWN PRIVATE JET

Posted by Private Jets For Sale on August 8, 2016 at 7:50 PM Comments comments (0)

GUIDE: HOW TO BUY YOUR OWN PRIVATE JET

Buying your own aircraft is the ultimate extravagance but having the freedom to fly whenever you want is hard to put a price tag on. Here are some key considerations before you take those first steps down the runway

It might seem like the one luxury that you could live without, but at a certain point in your career - when you're spending more time in airport lounges than your living room for instance - and a certain level of success, owning your own aircraft may not seem like such a far-fetched idea.

Experts advise starting with chartering a private jet, and if it’s available in your part of the world, entering into a fractional ownership arrangement that allows you the use of an aircraft for a certain number of hours a year.

"That way you can try out different aircraft and see what's involved before deciding if you want to buy your own jet," says Jose Eduardo Costas, VP for Marketing & Sales in Asia Pacific, for Embraer Executive Jets.

Industry players say it’s a buyers’ market right now, with plenty of inventory left following the financial crisis of 2009.

 

 

Do You Really Need to Own One

At what point does ownership, which would set you back around $4-5 million for an entry-level jet, make economic sense? While there is no magical number, experts say that as a rule of thumb, if you spend over 300 hours a year in the air, that's when you might want to start shopping around for your own set of wings. Anything less and a charter or fractional ownership would probably make more sense.

One of the key advantages of owning your own aircraft is that you can customise it to suit your needs and tastes. If work is priority in the air, you can set up a conference grouping on board. But if flying is the only time you can get any real sleep, then installing a bed with your favourite mattress is a no-brainer.

You may not always get the same plane when you charter, and of course it may not be as readily available.

 

 

How to Buy One

If you're set on owning a private jet, there are two main routes to making the purchase. If you've done your homework and know which make you want, you can approach the manufacturer directly.

However, most jet newbies are likely to engage a professional consultant or broker to help them through what can be a lengthy and complex process.

Qualified aircraft brokers claim to not only find and negotiate the best deal on an aircraft, they also save you time and money in the process of completing the transaction.

A word of advice from the experts: “Brokers are well educated in the process of buying and selling aircraft, which will save you time and money in the process,” says Greg Duckson, President of U.S.-based broker General Aviation Services.

 

 

Which Type to Get

There are three basic types of jets available: Light, medium and heavy.

Light jets usually have a 1,000 nautical mile range and can seat up to six people. Medium jets have a 1,500-2,000 nautical mile range and can seat 8-10 passengers. Heavy jets usually have a 2,500-3,500 nautical mile range and can seat 12-16 passengers.

Choose one based on how far you need to fly and how many people you usually travel with. Obviously, if overseas travel is will be required, the aircraft will require the longer range aircraft.

It is also advisable to get a plane that seats more people than you intend to take with you, says Embraer’s Costas to allow for comfort during longer haul flights.

 

 

How to Get Financing

There are many companies and banks that specialise in aircraft financing. Like most loans, the company or individual will have to qualify for a loan as well as provide some form of a guarantee.

Lenders typically have a certain niche that they finance. Some will offer higher loan amounts, some will only finance newer aircraft, and in certain countries where the aircraft may be located, it could be harder to obtain financing.

Basically, find a good broker and that person or company will be able to assist you in finding the right financing solution.

 

 

How to Much to Expect to Pay

The cost of the aircraft will vary depending, among other things, how large the plane is, how old it is, and its maintenance history.

Prices have dropped significantly in the past four years as a result of the global economic slowdown - private jets are the first things to go in bad times - and many aircraft can be had for $3 million to $10 million.

If you don’t mind a second-hand model, older used jets can be purchased for under a million dollars, says Duckson.

 

 

Other Costs to Look Out For

This somewhat long list will give you an idea of the true cost of jet ownership.

 

  • Annual insurance premium.
  • Hangar Space
  • Maintenance
  • Salaries and benefits for crew
  • Landing Fees, handling fees and even navigation fees
  • Catering
  • Fuel

 

 

 

How to Manage the Investment

Professional management companies handle all aspects of owning an aircraft for the owner. They will maintain the aircraft to the manufacturer’s requirements as well as handle hiring pilots.

Some can even offer the aircraft for charter to help offset some of the maintenance costs while the owner is not flying it.

One downside to chartering your aircraft out is that it will put wear and tear on the aircraft and with every hour it flies it moves it closer to its next maintenance schedule.

 

 

Customization Options

Everything from colors and carpeting to lighting and cabinetry is open to customisation. Interior design aside, planes can also be fitted out with entertainment systems and Wi-Fi access.

Manufacturers can offer you their in-house consultants to help customise your aircraft, but very often buyers bring their own designers into the process as well.

Article from Luxury Insider

 

More info on: www.privatejetsforsale.biz



GUIDE: HOW TO BUY YOUR OWN PRIVATE JET

Posted by Private Jets For Sale on February 18, 2013 at 8:25 PM

GUIDE: HOW TO BUY YOUR OWN PRIVATE JET

 

 

Buying your own aircraft is the ultimate extravagance but having the freedom to fly whenever you want is hard to put a price tag on. Here are some key considerations before you take those first steps down the runway

 

It might seem like the one luxury that you could live without, but at a certain point in your career - when you're spending more time in airport lounges than your living room for instance - and a certain level of success, owning your own aircraft may not seem like such a far-fetched idea.

 

Experts advise starting with chartering a private jet, and if it’s available in your part of the world, entering into a fractional ownership arrangement that allows you the use of an aircraft for a certain number of hours a year.

"That way you can try out different aircraft and see what's involved before deciding if you want to buy your own jet," says Jose Eduardo Costas, VP for Marketing & Sales in Asia Pacific, for Embraer Executive Jets.

Industry players say it’s a buyers’ market right now, with plenty of inventory left following the financial crisis of 2009.



Do You Really Need to Own One

 

At what point does ownership, which would set you back around $4-5 million for an entry-level jet, make economic sense? While there is no magical number, experts say that as a rule of thumb, if you spend over 300 hours a year in the air, that's when you might want to start shopping around for your own set of wings. Anything less and a charter or fractional ownership would probably make more sense.

One of the key advantages of owning your own aircraft is that you can customise it to suit your needs and tastes. If work is priority in the air, you can set up a conference grouping on board. But if flying is the only time you can get any real sleep, then installing a bed with your favourite mattress is a no-brainer.

You may not always get the same plane when you charter, and of course it may not be as readily available.



How to Buy One

 

If you're set on owning a private jet, there are two main routes to making the purchase. If you've done your homework and know which make you want, you can approach the manufacturer directly.

However, most jet newbies are likely to engage a professional consultant or broker to help them through what can be a lengthy and complex process.

Qualified aircraft brokers claim to not only find and negotiate the best deal on an aircraft, they also save you time and money in the process of completing the transaction.

A word of advice from the experts: “Brokers are well educated in the process of buying and selling aircraft, which will save you time and money in the process,” says Greg Duckson, President of U.S.-based broker General Aviation Services.



Which Type to Get

 

There are three basic types of jets available: Light, medium and heavy.

Light jets usually have a 1,000 nautical mile range and can seat up to six people. Medium jets have a 1,500-2,000 nautical mile range and can seat 8-10 passengers. Heavy jets usually have a 2,500-3,500 nautical mile range and can seat 12-16 passengers.

Choose one based on how far you need to fly and how many people you usually travel with. Obviously, if overseas travel is will be required, the aircraft will require the longer range aircraft.

It is also advisable to get a plane that seats more people than you intend to take with you, says Embraer’s Costas to allow for comfort during longer haul flights.



How to Get Financing

 

There are many companies and banks that specialise in aircraft financing. Like most loans, the company or individual will have to qualify for a loan as well as provide some form of a guarantee.

Lenders typically have a certain niche that they finance. Some will offer higher loan amounts, some will only finance newer aircraft, and in certain countries where the aircraft may be located, it could be harder to obtain financing.

Basically, find a good broker and that person or company will be able to assist you in finding the right financing solution.



How to Much to Expect to Pay

 

The cost of the aircraft will vary depending, among other things, how large the plane is, how old it is, and its maintenance history.

Prices have dropped significantly in the past four years as a result of the global economic slowdown - private jets are the first things to go in bad times - and many aircraft can be had for $3 million to $10 million.

If you don’t mind a second-hand model, older used jets can be purchased for under a million dollars, says Duckson.



Other Costs to Look Out For

 

This somewhat long list will give you an idea of the true cost of jet ownership.

Annual insurance premium.

Hangar Space

Maintenance

Salaries and benefits for crew

Landing Fees, handling fees and even navigation fees

Catering

Fuel



How to Manage the Investment

 

Professional management companies handle all aspects of owning an aircraft for the owner. They will maintain the aircraft to the manufacturer’s requirements as well as handle hiring pilots.

Some can even offer the aircraft for charter to help offset some of the maintenance costs while the owner is not flying it.

One downside to chartering your aircraft out is that it will put wear and tear on the aircraft and with every hour it flies it moves it closer to its next maintenance schedule.



Customization Options

 

Everything from colors and carpeting to lighting and cabinetry is open to customisation. Interior design aside, planes can also be fitted out with entertainment systems and Wi-Fi access.

Manufacturers can offer you their in-house consultants to help customise your aircraft, but very often buyers bring their own designers into the process as well.

 

Article from Luxury Insider


More info on: www.privatejetsforsale.biz

 

The return of the Eclipse

Posted by Private Jets For Sale on November 23, 2011 at 11:20 AM Comments comments (0)



REMEMBER the Eclipse 500, the super-cheap "very light jet" made with NASA technology, that was going to do for air travel what the Ford Model T did for motoring? By now the skies were supposed to be buzzing with Eclipses, both privately owned ones and fleets of affordable "air taxis", bringing private aviation to the masses. Based on an earlier craft designed by the legendary Burt Rutan, the Eclipse was bankrolled by Bill Gates and the company that made it was run by a former Microsoft executive, Vern Raburn.

When we first reported on the plane, in 2006, we noted the scepticism of some pundits about its makers' hugely optimistic plans. The doubters were proven right: early production versions of the plane failed to live up to the advertised spec, angering buyers. Eclipse ceased operation in 2008, as did DayJet, a pioneering air-taxi operator, which had ordered hundreds of the small planes.

Now, the Eclipse has a second chance. Ekim Alptekin, a Turkish businessman whose family firm had also ordered Eclipse 500s for a proposed air-taxi service, ended up as one of the aircraft maker's main creditors. Instead of cutting his losses and walking away, he decided to invest in a revival of the company. Last month the reborn Eclipse Aerospace announced that it would start delivering a revamped version of the plane with better avionics, called the 550, next year.

When your reporter caught up with Mr Alptekin at the Dubai airshow last week, he admitted that people told him he was crazy to sink more money into Eclipse. But last year his plan won an important endorsement, when Sikorsky, a helicopter-maker and part of United Technologies, a mighty American conglomerate, took a stake. A subsidiary of Sikorsky in Poland will make much of the airframe for the new Eclipse, while the firm's sister company Pratt & Whitney will supply the engines. Just as important, says Mr Alptekin, Sikorsky will also offer Eclipse access to its worldwide service and support network.

 

Eclipsing the opposition

Several hundred of the old Eclipses are still flying. While the company gears up to produce its new model, it has been buying up some of the old planes, stripping them down and replacing some parts, then reselling them for $2.15m. The new model will have a list price of $2.695m, still markedly cheaper than competitors such as Embraer's Phenom 100. Eclipse Aerospace, having had its debts cleared in the bankruptcy, is already cashflow-positive, Mr Alptekin claims. But all he will say about the orders received so far for the new version is that they are in the "multiples of tens". 

At any rate, compared with the original Eclipse company, which flew too close to the sun, the new incarnation is much more conservative: it plans to only produce 100 or so of the new model a year. Mr Alptekin says it should be possible for air-taxi firms to operate the plane profitably at a cost of, say, $1,700 for a one-hour flight for up to four people. If so, there ought to be strong demand from organisations which need to move small teams of highly-paid people over distances up to 2,000km. Mr Alptekin sees the strongest potential in places like Brazil, the Middle East, Asia, Eastern Europe and his home country, Turkey. He is less optimistic about Western Europe because of its red tape and taxes.

It still looks like being be a long time before we're all flying around in our own private planes like The Jetsons. But if the new Eclipse lives up to its promise, the market for air taxis could finally take off.


Source: The Economist


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