Once you have come to the understanding of which aircraft will work best for your needs. You’re going to have to consider where you will store your aircraft and how it is going to be managed or maintained. Along with management comes with the hiring of a pilot, flight crew & maintenance crew etc. Having a pilot that has experience with the aircraft you have chosen is beneficial. The same thing applies when it comes to the maintenance team as well.
There are a few things to consider when deciding between management companies. The first is whether or not you will require a small or a large management company. The second is the style of management. Would you rather be involved with the management team. Or would you rather be completely hands off?
Small vs Big Management
Determining your management size comes down to what your needs are as an aircraft owner. Is this for business? Is this for an airline? Or is this more so for personal and leisure use? If it’s for personal use or a small business, then there really is not much need for a large management company.
Large companies typically service more clients and tend to take longer to respond to, inquiries and service requests. Smaller companies on the other hand are able to conduct business more personal and generally provide support much quicker.
Charter Aircraft Management
With a charter aircraft management style, the client almost works in unison with the management company. You or the client will own and operate your aircraft. While the management company will take care of other charter services and requirements. It is said that you are able to generate an income in this type of management style. Although there are certifications and FAA regulations that you will have to follow in order to make sure you are in compliance.
Turnkey Aircraft Management
Turnkey is pretty much what it sounds like. A turnkey aircraft management style is when the management company takes full control of the operations and management responsibilities of a company or individuals aircraft. It is a hands-off approach which may work better depending on your situation.
When making your final decision on which management company or style to go with. Keep in mind
Keep in mind that experience and price range are very important. Although it’s also important to find a company that is willing to provide excellent service and become involved in servicing your needs from beginning to the end of your relationship.