Buying vs renting a private business aircraft
Over the past year, the coronavirus (COVID-19) outbreak has disrupted industries around the world. The travel and transportation sector is one such segment that has been hit by restrictions and health risks alike.
This has not only caused issues for the everyday commuter, but also created problems for business travelers. It is especially true for those executives who need to travel long distances on a frequent basis.
If your business is currently looking for a safer and more robust travel solution for your C-suite or management branch, a company helicopter or airplane may be the most effective approach. That’s where the questions start: Should you buy your own company aircraft or choose one that’s available for rent?
Is it more cost-effective to buy or rent?
At first glance, renting an aircraft might seem like a more cost-effective choice. But at a closer look, that couldn’t be further from the truth. If you frequently charter a helicopter or an airplane, it could add to more considerable rental expenses. Depending upon the type of vehicle you are renting, these costs can surpass the original value of the aircraft within a couple of years.
Another factor that comes into play is the fluctuation of rental prices. Since these costs can consistently increase over time, they can often go past the one-time investment of purchasing your airplane. The bottom line? Buying your own plane becomes a more affordable choice in the long run.
Invest in an aircraft as a business asset
When you regularly rent an airplane, it creates a running tally of costs without contributing to your assets. Over the period of a few years, you essentially end up paying a small fortune for transportation that doesn’t provide additional value to your company.
If you instead invest the same costs in buying an aircraft for sale, it adds to your business’ overall assets. As a result, your air travel costs can be considered an investment rather than a pure expense. This allows you to enhance your company’s asset portfolio while also enjoying convenient air travel
Convenience: Renting vs buying an aircraft
There are many aircraft charter companies available throughout the country, but due to the current circumstances created by COVID-19, getting an aircraft when you need it can prove quite a challenge. This can be difficult to the point where you often have to change your travel plans.
No matter your choice of vehicle, buying an aircraft for sale can solve this problem quite efficiently. Since your vehicle remains under your control, you can easily manage your business’ travel arrangements without depending on third-party providers.
This enhances your overall convenience and ensures that you don’t have to put critical plans on the backburner. As a result, the investment you make into purchasing your aircraft goes beyond the luxurious comfort itself.
With these points in mind, it is essential that you explore your options for buying your own vehicle for air travel. Through the right vendors, you can easily find something that fits your budget and your business’ needs alike.