In a new piece for Alister & Paine Magazine, Magellan Jets President Anthony Tivnan offers his timely advice in the article titled “Preparing Your Private Aviation Portfolio for an Uncertain Economy.” Read on for some of Tivnan’s tips, which ring especially true as we weather the current coronavirus crisis.
Alister & Paine Magazine: Magellan Jets President on Preparing your private Aviation Portfolio
In the new Alister & Paine Magazine piece, Magellan Jets President Anthony Tivnan outlines several key examples for why it may not be smart to cut back on private aviation during a “minor downturn or even a dramatic Black Swan event.” A few examples detailed in the Alister & Paine Magazine piece include
“-One study we found demonstrated that 42% of high-value clients leave their current provider of business services when in-person engagements were cut from the schedule
-Another study determined that when budgets are tight and economic pressure is high, prospects that were engaged in-person were twice as likely to become customers than prospects that were engaged with electronic or other telepresence
-Yet another study revealed that companies that re-deployed their travel dollars into appropriately scaled and well-managed private aviation portfolios grew twice as fast post-recession as companies that had eliminated their business aviation solutions”
Private Aviation Tips
As for solutions, Tivnan laid out the following three steps each company should take. First, “zealously and relentlessly” control costs for your aviation. Tivnan recommends not renewing with your current provider just because you always have. Also, he writes says to be “flexible.” There’s benefits to getting “out from under big assets and long-term agreements.”
Secondly, Tivnan says in the Alister & Paine Magazine piece to “use aviation dollars to diversify and grow your client base.” Specially, the Magellan Jets president says to “turn a business trip into a business development road show” and to “put flexibility and geography together to work for you instead of against you.”
Finally, the piece covers using “air power to invest.” Specially, using it for your best customers and team members. Tivnan says customers “always remember” how you made them feel. He also writes about loyalty. It’s “a series of consistent internal behaviors that changes the behavior of clients and their friends.” Click the link below to read the full Alister & Paine Magazine article.