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The Only Way You Can Buy Time
Date: 06/12/2023 Type: Articles Topic: Private Client | Trusts | Wills and Estates | Inheritance | Next Generation Wealth | Investment and HNWI’s | Tax |The Only Way You Can Buy Time
Business these days is fast moving and gone are the days when, “it’s in the post” was reluctantly accepted as an answer, at least for a day or two. I remember the excitement of the first fax machines which offered a more readily available solution than the telex machine. The arrival of the mobile phone meant that business executives were available wherever they were, no more “he’ll be back in the office on Thursday”. Everything became here and now, and we’ve all been doing business as we drive down the motorways for more than 30 or 40 years. Add to this the impact of time zones across the world and many of us are pretty much online and on call 24/7. The purpose of this piece isn’t to question whether any of these evolutions to the working day are right or wrong but merely an illustration of the pressures we all face in business.
Wouldn’t it be great if we could just have a little more time, whether for business or leisure? Well, there is one way that you can buy time and that’s by smartening up your business travel.
Post-pandemic the number of routes covered by commercial airlines remains considerably lower than were available back in 2019 and as a consequence we are seeing a need for more connecting flights or longer ground transfers, all of which eat into the working day. What’s more, all too often the scheduled flights are just at the wrong time of day, whether for the outbound or return trip. In contrast, with a business jet you are free to choose where you fly from and to and at what time – literally from your chosen A to the most efficient B. You’ve just saved, perhaps half a day or more.
What’s more, business jets fly into and out of considerably more airports across the globe than commercial schedules allow, with some 900 more being covered in Europe alone. Such a wider choice further enhances the experience of flying on an aircraft not limited to commercial schedules.
Many readers will have experienced the situation where a meeting is overrunning and you’ve booked the last scheduled flight of the day. When this happens there are generally two options, either miss the flight but finish the meeting, or leave unfinished business but stick with the schedule. The former invariably means an unplanned night in a hotel and consequential disruption the following day, whilst the latter most likely means a return trip to deal with the outstanding items. Whichever way you choose to proceed, you’ve lost a decent chunk of time.
If you were flying privately you’d merely make one call to delay the flight for as long as you needed, finish the business and still get to your next destination, albeit later than planned. There are no unplanned hotel nights and no need to return to deal with what was left over from the previous meeting, perhaps saving anywhere between half a day and perhaps a whole day.
Whether it’s getting back home for family commitments or to deal with other pressing business issues, once you have experienced the benefits of flying in your own aircraft, whether by charter or ownership, you’ll not want to fly any other way.
That’s without mentioning the absence of queueing in the boarding and alighting process; the knowledge of who else you are flying with; the confidentiality of on-board discussions; enhanced security and so on.
There are countless charter brokers available to speak to throughout the world but do make sure that you are dealing with a reputable organisation because there are manifold risks in getting involved in an illegal charter.
Once your level of chartering increases it may get to a level where you choose to take the plunge to purchase your own aircraft. Typically, around 150 hours, perhaps 200 hours, will justify the acquisition and then you have the ultimate freedom. Duncan Aviation, and many other leading aircraft brokers are always willing to guide you through the purchase process.
Finally, there are many stories in the press about the impact of business aviation on the environment, although it is always referred to as “private” aviation in such articles. These appear to be designed to shame people into not flying on corporate aircraft and largely focus on the odd celebrity who is flying for just a few minutes, which is of course a country mile away from the reality. The majority of flights are mid-level executives on business trips, but why let the truth spoil a good story? Business aviation contributes only 0.04% to global emissions, so there are 99.96% of other issues that may just be a bigger concern. My advice is to enhance the quality of your travel, benefit from increased hours in the day, enhance your ability to make more money for your business and employ more people. Everybody gains!
Authored by Tim Barber (Duncan Aviation Aircraft Sales & Acquisitions).
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