Headlines often refer to “non-renewable resources,” usually in reference to oil and natural gas. But during the fourth annual JETNET iQ Global Business Aviation Summit last month in New York City, I was reminded that there’s only one truly non-renewable resource: TIME.
That’s really what business aviation is all about — whether you’re buying a charter trip, a jet card, fractional share, or aircraft — you actually are buying back slices of your life that otherwise would be lost to the TSA, inconvenient connections, delays, and other commercial airline time-wasters.
You’re not alone. According to data presented by Doug Harrison and Jim Taylor of YouGov PLC (www.research.yougov.com), one of the world’s leading market research firms, reducing stress is the end goal of most purchases by business executives and high net worth individuals. YouGov’s research indicates that these individuals will spend more than $1.1 billion on international travel in 2014. That’s up 38% in less than a decade, a decade of weak worldwide economic growth.
Most of those dollars will be spent on business aircraft travel. Whether managing multiple professional activities or facilitating family travel, you use your aircraft to manage the complex demands on your life. As Dr. Taylor commented, “The executive may indeed use business aircraft to save time to get to a meeting — but it’s getting home to spend more time with family that is the real reason to fly privately.”
Luxury is not the biggest, latest, or greatest. True luxury is a moment devoid of stress, and using business aviation helps give you more of those moments. But the decision to use business aircraft — and what type of aircraft, jet card, or charter service to use — requires careful research. According to YouGov, 68% of you routinely do that research. You shop based upon need, not want, and you rely on data, not just on brand names.
That’s where we come in. Whether you want to learn how best to manage ownership costs, preserve your aircraft’s asset value, or how to approach aircraft acquisition, Business Aviation Advisor provides you with the data you need to make informed decisions.
In this issue’s cover story, Rolland Vincent gives you a preview of the newest aircraft models due soon and currently in development. Joanne Barbera offers “Six Essential Questions for Aircraft Acquisition Success,” and Anthony Kioussis helps you justify the current value of your aircraft. Bill Quinn outlines how to manage your aircraft operating costs, and Stephen Johns tells you why it can be dangerous to over-insure your aircraft.
In our Staff Report, you’ll learn why FBO fees seem to be increasingly common no matter where you fly, while John Sheehan brings you up-to-date on the new rules for international flying. And Washington Report Editor Dave Collogan explains the latest on NextGen, which should reduce flight delays by 41%.
Because time with family, friends, and associates definitely does not come in a bottle. BAA
Publisher of Business Aviation Advisor, has nearly 50 years in business aviation including executive positions at aircraft management/charter and ground services companies. He is a past director of the NATA and Corporate Angel Network.