Every aircraft owner has a different mission requirement as regards his or her private aircraft usage. The owners who also make their aircraft available for Part 135 charter need to balance their own needs with the benefits of the third party charter. If the owner possesses multiple aircraft, they will be in need of better returns, both in terms of services and fixed cost reduction.
This is where the services of a professional aircraft charter and management consultant deliver the most value. There are many companies around the world which specialize in assisting owners select the correct company and structure for Part 135 aircraft management and charter. To avail the services of any one of them, various essential aspects should be reviewed.
When it comes to understanding aircraft charter and management the various expectations and objectives should be clearly communicated in order to meet the requirements of the organization and the demands of the aircraft owner. Whether the structure is a conventional revenue sharing agreement or an alternative dry lease structure, the management company and the owner need to be aligned regarding the availability of the aircraft for third party charter.
The management company should have the capability to understand the goals of the owner and accordingly tailor the structure to meet their specific needs. The specific structure should be based upon activity, revenue and cost projections agreed by the owner and the management company. A third party consultant can bring experience to bear and advice as to the reasonableness of the estimate in a particular charter market.
Aviation is an industry where experience cannot be taken for granted. When it comes to selecting an aircraft charter and management company, a professional aviation consultant can advise an owner as to the appropriateness of the management company they are considering.
In addition to managing general maintenance, FBO management, arrangement of in-flight catering, ground transportation and other requests, the prospective management company should be proficient in meeting every client expectation. The aircraft charter and management consultant can advise on ways to reduce costs and increase efficiency.
Many companies also provide consulting and advisory services for various other general aviation requirements. This can be an added advantage for aircraft owners.
Aviation repair, maintenance and overhaul management, FBO management, aircraft management and advisory services and capital project management services are some of the services which are appropriately advised on by consultants. It is always best to engage a professional aviation consultant which has deep experience in aviation and adopts industry leading best practices.
When hiring an aircraft charter and management service for the first time, it is always important to check references and receive detailed feedback on all of the shortlisted candidates. The range of comparable experience should be clearly understood and matched with the needs and requirement of the aircraft owner.
Having an aviation consultant request references and diligence the portfolio of work of the potential candidates is the best way to evaluate the various management companies. The aircraft owner should also give more importance to international operating experience if global operations are a part of their profile.
With a clearly defined set of goals and the right aviation consultant, charter operations become simpler and less burdensome to the owner. It also ensures an independent view on a contract of great importance to an aircraft owner.
Contact us today for a free preliminary review of your management and charter situation. Our principals have 25 years’ experience in the industry with proven track records of adding value as an advisor or consultant.