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Top Things to Know Before Buying Your Jet (Part 1)

Top Things to Know Before Buying Your Jet (Part 1)

There are several basic things to know before buying an aircraft, and some other less obvious areas too. Over a two-part article, a selection of leading brokers reveal to Chris Kjelgaard what those areas are...

Those planning to buy a business aircraft usually believe they know what kind of plane they want, how much they are prepared to pay for it, and the types of mission they mostly expect to be using the aircraft for.

Inexperienced buyers, particularly those who have never purchased a business jet before, often do not realize there are several other very important factors they must weigh up carefully before making a final decision.

Buyers should fully account for these when deciding which aircraft to buy – or indeed, if they might be better served chartering an aircraft or buying a fractional share, reputable brokers agree.

Following are some key areas to consider ahead of your acquisition that will help ensure you don’t make a purchase you later regret...

1. Pick the Right Jet Management/Brokerage Partner

Will you have your own Flight Department operate the aircraft, or will you place it with an aircraft management company who may be able to help offset some of the operating costs through charter revenue when you are not using it?

If you are planning to have an aircraft management company operate the aircraft for you, it’s important to do some due diligence as to which management company you’ll use, says Dustin Cordier, Head of Global Sales for Atlanta- based OGARAJETS.

Read full article here.

This article was originally published by AvBuyer on March 22, 2024.

 April 02, 2024