Business jets like the Dassault Falcon can offer very spacious cabins.
Your car drives you to the airport and parks next to your aircraft. You board it as your luggage is lifted into the back. There is no queuing for security, no need to move between terminals or sit waiting for flights. You fly to the airport nearest where you want to go, you do not need to change aircraft and you can fly home when you want to.
Quite simply, in almost every way (the exception may be the toilets on very small aircraft), flying privately is quicker and more pleasant than with commercial airlines. There is less hassle, less stress and the aircraft leaves when you want it to.
It is simply a better experience. Nearly every high-net-worth individual who tries flying privately wishes they had started earlier.
But corporate jets are not about luxury. They are about time.
Business jets offer passengers the ability to make business trips that would be impossible when flying on commercial airlines. This is true with all sizes of aircraft – smaller light jets like Cessna’s Citation Mustang make it possible to have meetings in Amsterdam, Frankfurt and Milan in one day and still get you home that night. This is why companies like Walmart, the owner of Asda and McDonald’s – rarely viewed as luxury companies – use business jets.
Large continental jets like the Gulfstream G650 can get you around the globe flying faster than any commercial jet, allowing you to have breakfast meetings in Hong Kong, business lunch in Shanghai and dinner in Mumbai.
OK, so it is not cheap to fly on a business jet. Business jets are expensive assets; they cost a lot to fuel and operate (they have similar safety standards as commercial aircraft and similarly qualified pilots) and it also costs a lot more to land at the closest airport to a city than one that is 50 miles away.
But if your CFO calculates the time value of four executives spending several days out of the office rather than just one – and of course hotel and subsistence costs – then spending several thousand pounds chartering a jet can often be the right investment.
As Warren Buffett, chief executive of Berkshire Hathaway, says: “Berkshire has been better off by me having a plane available, to go and do deals. It’s a plus – we’ve done things I would not have done if we hadn’t had a plane.”
As arguably the world’s most successful investor Buffett knows that there is only one thing that no one can buy: time.
Article Written by Corporate Jet Investor
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