You’re busy and your time is valuable. You purchased an aircraft to reach difficult destinations on your own schedule. However, you’re realizing the upkeep can be a burden and the right aircraft management company allows you to refocus on your priorities.
Working with a turnkey aircraft management company will ease the challenges and liabilities of plane ownership. You’re able to enjoy the benefits of private aviation with the confidence that maintenance, regulations, crew staffing and trip planning are being handled by experienced professionals.
There are many aircraft management and charter companies offering a variety of solutions and price points. In this article, we present details to consider when choosing this important aviation partner.
Must-Ask Questions for selecting an aircraft management company
When shopping for a management company, you’ll want to be familiar with how they conduct business. It is important to understand the value you receive from the management company, so be prepared to ask questions such as:
● What does turnkey mean to you?
● What is your menu of services and capabilities?
● What services are included with the monthly management fee?
● What is the retention rate of crew and pilots?
● What is the structure of your Safety Management System?
Determine if their services align with your priorities. For example, chartering your plane when it’s not in use is a requirement for some companies, while just an option for others. Outsourcing all maintenance is normal for some, while in-house maintenance is baseline for others. If they’re a company that manages flight operations, maintenance and staffing, it’s equally important to understand how they treat their staff and look after their managed fleet.
Try asking:
Are management and maintenance services in house?
Do you require a charter offset?
Safety!!
Since you’re trusting this company to manage your jet – and protect the lives of the people you work with and love – the most important consideration when deciding between aircraft management companies is their approach to safety.
In a turnkey operation, you need to build an immense amount of trust with the organization managing your aircraft. This way, you can enjoy the time-saving benefits of your aircraft with the peace of mind that the proper systems and processes are followed to ensure your safety.
When discussing this, inquire about:
What is your safety record?
Whether they’ve had any incidents, accidents or violations
How the company responded to any that did occur
What proactive safety measures they have in place?
Whether they have a Safety Management System
Aircraft management companies can receive third-party audits. Ask if they are audited and whether you can view the results. Find out whether they cultivate a safety minded culture and if there’s someone in a high-level safety position reporting to the CEO.
Not only will this build confidence in their abilities as you hand them one of your most valued assets, but a strong safety record will help the bottom line. Insurance companies are more incentivized to work with established fleets with proven safety records. This often translates into significant savings for aircraft owners.
Spending money wisely
Cost follows safety when searching for an aircraft management company. There are a number of ways in which your budget can be affected by their operating model and financial controls.
All of these can impact cost:
Proactively managing fleet maintenance
An in-house team of engineers
Strong employee retention
Established relationships with vendors
Whether they have their own hangars
Be sure to ask for the details of their monthly management fee. An operation with a larger fleet of planes should be able to transfer discounts to plane owners (Fuel, insurance, subscriptions etc.). A company that manages maintenance proactively can provide a more predictable maintenance schedule and budget.
Most companies provide charter offset. This reduces your costs by renting your plane when it’s not in use. It’s important to obtain details concerning scheduling, revenue-sharing, and costs associated with chartering to ensure an optimal experience.
The Goldilocks Effect
Airplane owners looking for an aircraft management company can stumble upon several options with a simple internet search. But finding the right partner to manage your aircraft to your specific needs requires a deeper level of investigation.
At Davinci Jets, we pride ourselves on being a boutique aircraft management company. We are small enough that our clients don’t feel like a number, yet we have the scale of a larger operation that allows us to pass savings to our clients. We treat our clients like family. We manage their equipment and money as if it’s our own. If you want to contact our CEO or leadership ream, just give us a call at 704.359.4674.