Each aircraft owner has unique aircraft requirements. It is important for owners to balance their own aircraft usage needs and with the benefit of leasing from third parties that may offset a portion of the fixed cost of aircraft ownership. If you have multiple aircraft, you should expect better and better returns, both in terms of service and reduced fixed costs, and this is precisely where professional charter management services matter. There are a handful of companies around the world with full international operations. These essential aspects should be reviewed before committing to one of them.
1. Understand your goals
When it comes to chartering and managing aircraft, expectations and objectives must be customized to meet the mission profile and demand of the aircraft owner. As an owner, you should expect and demand impeccable service from a management company that exceeds your ability to self-manage your aircraft or fleet. The best way to ensure the same is to ask the management company to tailor a plan to your specific needs. Your management company must provide a detailed plan per aircraft that calculates revenue and all fixed and variable costs based on anticipated availability and usage.
2. check experience
Aviation is a field where experience cannot be taken for granted. Be sure to look for service providers with extensive experience in the market and who are equipped and experienced enough in your aircraft type to offer specialized services. From managing general maintenance and fixed base operations to arranging for in-flight services and other requests, the company must have a proven track record of meeting customer expectations. The ACM company should be able to offer ways to reduce costs and streamline expenses, a concern for all aircraft owners.
3. additional assistance
Many companies also provide advisory and consulting services for other general aviation services, which can be an added benefit for owners looking to expand their aviation holdings beyond ACM. Check if the service in question can handle capital project management, maintenance, repair and overhaul (MRO) and fixed base operations (FBO) services. You may also want to learn about the type of custom management reporting packages a company can offer, which will help define metrics for success, results, and profit. Cost containment programs are paramount for private aircraft owners, and it’s best to partner with a management company that has a long history in aviation and a large inventory of industry-leading best practices.
If you are hiring an aircraft management service for the first time, be sure to diligently manage candidates accordingly. Seek detailed feedback on the type of expertise they can offer for your custom needs and the range of projects they have handled that are similar to your mission needs. Asking for references and checking the portfolio of work is a great way to evaluate potential management companies, and you may want to give more weight to services that have exposure in the international arena if global operations are part of your mission profile. With a clear, defined set of objectives and the right management partner, charter operations can become simple and less burdensome for the aircraft owner, with increased operational efficiencies and reduced total fixed cost of ownership.