Buying a private jet? How to maximize the ownership experience

Michael Farley, Outlier Jets founder and CEO

Outlier Jets founder and CEO Michael Farley explains that buyers, today, are much less concerned about the transaction and more interested in the long-term relationship.

Buying a private jet is an important decision and investment. Especially today, when private jet ownership is increasing thanks to the unapparelled efficiency and resiliency demonstrated by the industry during the pandemic, there are many companies that offer aircraft acquisition services and others that provide aircraft management.

That’s great, but what happens along the way? Usually, after the aircraft is purchased, the owner must look for the right management company and, especially with the large influx of first-time owners today, that can be a tough and time-consuming decision. Outlier Jets was especially created to be that one-stop shop that enables a true end-to-end private jet ownership experience. Why? Well, we know all the brokers that offer acquisition services; we understand who the top players are, and the same with the aircraft management players.

Outlier Jets’ unique approach to aircraft acquisitions resides in the trust-based relationship with each owner, providing complete guidance throughout the entire ownership process. And honestly, if flying private is what a potential owner wants, but it might make more sense for them to try the private jet experience first, our team will recommend our global charter or jet card program.

Furthermore, what happens when an owner wants to sell? Managing the entire ownership process also means active guidance on when is the perfect time to list an aircraft for sale, at what price, and in the appropriate markets. Also, if chartering is desirable for the owner after the acquisition to reduce costs, this is also something Outlier Jets is uniquely positioned to provide, given our retail charter base.

Step-by-step process of buying a private jet

The purchase price of an aircraft or fleet of jets is only one of the figures to consider as a future owner. Maintenance costs and scheme, insurance, crew salaries, aircraft lifespan, taxes, and depreciation, are the list of variables that come with the commitment.

Outlier Jets has a Tip to Tail service that comprehends a step-by-step process that guides owners in aircraft selection and valuation, transaction due diligence, financing options, management requirements, and technical formalities from completion to delivery.

Maintaining an open line with owners is paramount, now more than ever. Maximizing the owner’s experience and investment is only possible given the knowledge of the different pieces in the process and the parties involved.  Owners are faced with many variables, such as who to trust with the acquisition of an appropriate aircraft, or the selection of the management firm- especially a firm with the proper expertise in make or model aircraft and operational region. Outlier’s daily workflows and tenure lend very well to an owner’s enjoyment of their asset.

At Outlier Jets, our clients trust us with their time, their family, and their business. Outlier exists purely for these reasons. Our team specializes in large, complex movements such as IPO roadshows, multi-city music tours, or perhaps the most important mission: valued time with family. Whether your itinerary requires space for a single passenger or 1,000+ passengers, Outlier can execute globally so our clients travel without limitations.

 

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