By Anna McDonald, Director of Family Learning
When most people think of private air travel, they often conjure images of celebrities’ lavish experiences. Whether it’s the opulent Gulf Stream with cashmere seats and custom modifications owned by Kim Kardashian or the spacious and luxurious cabins of a Bombardier Challenger 350, as seen in athletes’ Instagram posts, the allure of luxury travel is undeniable.
“People don’t realize most private aviation is light to midsized jets, with six to seven seats. They look more like a large SUV,” said Doug Gollan, owner and editor-in-chief of Private Jet Card Comparisons, a buyer’s guide to fractional ownership, jet card, membership, and charter programs. “Most people don’t understand the reality of what private air travel offers.”
The reality is that private air travel offers something we can all use: flexibility and more time. Ultra-high-net-worth individuals, businesses, and families tend to see a more productive and peaceful cadence to their lives when they utilize private air travel.
“It’s a time machine,” Gollan said. “People often tell me they didn’t realize how much of their time was wasted working from a commercial airline schedule and how much enjoyment in their lives and time with family was missed by flying commercially. They can add another round of golf, or one more run on the slopes to their vacations, rather than packing up at 6:00 a.m. to arrive several hours ahead of a commercial flight.”
For companies, the bonus of flying private is not only a more productive work schedule but also a draw to acquire and retain top talent. In some areas of the United States, flying commercially often entails a layover and long hours away from loved ones for a work meeting. As a perk, companies utilizing private air travel can offer non-stop flights to and from business meetings, allowing more time to get home and attend that soccer game in the evening.
As people contemplate flying privately, Gollan says the biggest mistake he sees people make when deciding on private air travel is to jump in and make a commitment without doing research.
“A lot of times, someone at their country club mentions a company they use for private air travel, and people don’t understand what they are getting into when using the same company as their friends,” Gollan said. “It could work out, but oftentimes, something not ideal creeps into the picture. For instance, they may want to fly often on peak days when their friends didn’t need to do this, and the deadline for reservations on a peak day is 10 days, not 48 hours.”
Those considering flying private need to make sure they understand all aspects of the contract, including what is being offered and its limitations.
“There are people who fly 100 hours a year, and in some instances, they do charter one-by-one, and that is the best solution for them, but people need to take the time to answer some important questions and do the research before they sign the contract.”
To learn more about the different ways to travel privately and some key points to consider before making a private air travel decision, contact your Moneta advisor for the full article.
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