Private Air Travel on a Manageable Budget

When most people hear the phrase, private air travel, the usual image that comes to mind is a jet-setting movie star or CEO, reclining in a leather sofa bed on his Gulfstream Jet 30,000 feet in the air. However, in reality there are tens of thousands of aircrafts available for rental throughout the United States on any given day. In this article, we will touch on three different ways that organizations and individuals manage to utilize private air travel without having to be a multi-millionaire.rnHourly RentalrnThere are many aviation companies as well as private owners who offer their aircraft for private rental. Unlike chartering a jet, a private aircraft rental does not come with a pilot, and certainly not any scantily clad stewardesses. Typically the types of plane rental options that come by the hour involve aircrafts such as a Cessna Skyhawk or a Piper Arrow, both of which qualify as small aircraftsrnNot just anybody off the street can go rent a plane though. Qualification requirements include a valid pilot’s license, a valid flight physical (medical check-up), and proof of renters insurance. Additionally, many plane owners require proof of coverage under a non-owned liability insurance policy to protect against the unlikely but very dangerous scenario of an accident.rnAircraft LeasingrnFor larger aircraft, there are several leasing options that are typically available. The first is known as ACMI, which stands for Aircraft, Crew, Maintenance, and Insurance. Under an ACMI lease, the lessor provides the aircraft, a complete paid crew, and aircraft maintenance and insurance. The lessee has pay for all fuel, landing, handling, parking, and storage fees, as well as visa and duty fees and luggage/passenger insurance as applicable. ACMI lease lengths are usually shorter in length, as the lessee typically guarantees a minimum number of flying hours per month, and is charged accordingly whether or not they use them all. Sometimes an ACMI lease is also known as a wet or damp lease, but the exact differences between each term can vary from country to country.rnA dry lease is a lease of a basic airplane without crew, insurance, maintenance or otherwise. The lessee is typically required to register the aircraft in their name, and the length of term is much longer lasting a minimum of two years and sometimes as many as seven or longer. Dry leases are typically used by leasing companies and banks.rnFractional OwnershiprnThe concept of airplane fractional ownership is based around the idea of several owners splitting the purchase price of an airplane, and then paying an additional fee to a third party to handle scheduling, maintenance, and other incidentals. Often times, disputes can arise between owners who both want access to usage of the plane during the same dates, or when the plane is grounded during a requested time due to maintenance issues. Given the higher cost of owning a plane, even on a fractional basis, it is difficult for many of those involved with fractional ownership arrangements to accept that their aircraft is not always immediately available.rnSo in summary, while private flying will probably never be as readily accessible as commercial flights, you don’t necessarily have to go platinum on your next album or throw four touchdowns in the SuperBowl to gain access to it. Through a growing number of leasing, rental, and fractional ownership programs, more and more Americans are flying private every year.