High flyers

The times they are a'changing. Though prices have yet to fall far enough to be considered cheap, chartering a private jet is no longer as exclusive as it used to be. Naturally, there is a scale of luxury but clients can now pick and choose the level that they (and their wallets) find comfortable. From a boutique 4-seater to the heftier models that can carry up to 15 people, there is plenty of scope within the private jets available to tailor the service to each individual customer's needs.

Not only can clients choose how many people they would like to fly, they can also select from a vast array of interiors. These range from modern, chic settings with dark wood trims and luxury leather seats to more exuberant styles with marble and gold-plated fittings. The larger models even have separate bedrooms, dining rooms, bathrooms and living rooms (with fully integrated entertainment systems) to ensure the ultimate in flying comfort.

As the economy in the Gulf region continues to boom, forming an epicentre for global economic investment, the local market for private aircraft has grown. Prices for the jets range from around US$10m to over US$50m so a great deal of liquidity is required to actually purchase an aircraft, notwithstanding fees for the optional extras.

As a result, those in the market for actually buying one of these planes remain royalty, high-net worth individuals and big corporations but to offset the (equally huge) running and maintenance costs, owners are increasingly looking to charter the planes out when they are not in service. This is clearly good news for them (some are now even making profits from their charters) but it is also good news for those looking to charter planes, with prices and availability increasing as the market becomes more competitive.

For international executives, there are distinct advantages to flying by private charter instead of by scheduled commercial flights. Primarily, the inclusion of separate check-in facilities by private charter companies means that the time spent going through lengthy check-in, security and baggage reclaim procedures are minimised. Add to this the fact that the conferencing and communication facilities are mostly available on board as standard.

Further benefits include the flexibility of travel arrangements, less travel fatigue (thanks to sophisticated noise reduction and improved cabin pressurisation) and access to smaller, more convenient airports that are not normally serviced by commercial airlines.

The finance department shouldn't balk at the figures either. If a company is regularly flying groups of important executives to remote locations using first class airline tickets, they may be candidates for the charter business without realising it.

Once the cost of the time saved by swifter procedures and airborne office facilities has been factored in, it can really work out as an economical option. And, as the old maxim goes, time is money.

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