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Private Jets are on the minds of all successful people.
The time savings, security, convenience and prestige appeal to the everyone.
However private aviation is so much more. It can be complicated and it’s definitely expensive.
To help us survey the issues around flying private, I spoke with DAVID CLARK.
David has developed expertise from over 30 years in the private aviation industry through several key roles working with international corporations and Family Offices.
He is the Principal of the Integris Aviation Consultancy
Fluent in Portuguese and English, he divides his time between North and South America working with Family Offices and flight departments
OUTLINE
What are some of the main reasons family offices choose to start using private aviation?
The Value of Time – and the appeal of Private Jets
What are the distinct options that exist for accessing private aviation? Break that down for us.
On Demand Charter
Jet Cards – package of hours
Fractional Ownership- depreciable asset
Whole Ownership- control; own or lease
What kind of methodology exists from a financial standpoint when it comes to private aviation? Walk me through that.
5K/Hr + taxes and fees
Jet card- 25, 50 or 100hr increments
Fractional Share- retail cost of plane divided by share
Whole Ownership- buy the whole thing
You talk about a best-practices approach a lot – what do you mean by that?
Over 60 yrs- lots of lessons, safety, operational, risk, financial- knowing how the industry workflows and “supply chains” work is key.
What is the state of the private aviation market today? Is this a good time to get in?
Covid lockdown
Opening up- boom – People discover how addictive it is.
The billionaires crack, kids go back to public school before going back to private-
Pilots?
What is the best advice you can give a family office wanting to use private aviation but don’t know where to start?
Build a Team:
Avaition Consultant
Aviation Attorney
Tax
Technical
ESG
Security
**Disclosure: This podcast is for educational and entertainment purposes. It is neither investment, legal, nor tax advice and does not represent the opinions of the employers of the host or guest. Frazer Rice is an employee of Next Capital Management, LLC. This podcast is a property of Wealth Actually LLC and does not reflect the opinions of Next Capital Management. Any opinions represented in the show are Frazer’s individually and not an endorsement of the guest.”