Here's how private jet owners can improve their experience

Buying and owning a private jet is complicated and expensive.

Some private jet owners move between management companies like Tinder dates.

So, how can operators make aircraft transitions and transactions painless?

Are operators involved too late?

How can customers find the right fit for a management company?

Speaking during Corporate Jet Investor London, private aircraft management and consulting company executives say you play a critical role in creating your own happiness.

Engage Early

To start, the executives recommend that your broker or consultant engage management companies as early as possible in the buying process.

Mike Moore of Essex Aviation Group, an aircraft broker and consulting firm, says waiting too long can delay the crew hiring process, affecting one’s ability to fly quickly.

He says it can take three months or more to get the crew in place – and trained.

Moore says an obstacle to bringing in operators at an early stage is that some owners do not use experienced aircraft brokers or consultants.

Because UHNWs often value relationships, customers will use their charter broker or even a longtime and trusted real estate agent, neither of whom may have significant experience in aircraft sales.

Luxaviation’s George Galanopolous says aircraft brokers can feel the management company will “mess the deal up.”

ACAM’s Darren Broderick says that can be because the management company believes you are buying the wrong airplane.

One recent potential customer was about to buy a private jet to fly nonstop between the U.S. and India.

Broderick says the prospect initially didn’t believe him when he was told his airplane would need a fuel stop.

Meet The Right People

How can you ensure the initial management company meetings are productive?

Management companies rely on brokers and consultants to tell them about clients’ needs.

For example, if you are looking for charter revenue, the management company should bring somebody from charter sales.

If you want to discuss the report’s details and what can be done, bring somebody from accounting.

DC Aviation’s Svenja Wortmann says it doesn’t help you or the management company if it’s just their salesperson who won’t be involved after you sign up.

She says to bring the customer contact people you will work with.

Galanopolous says, “Bring the right people to the meeting.”

READ: The 40 Steps To Buying A Private Jet

Made-to-Measure

Jet Aviation’s Vincent Rongier says what clients want varies widely.

Some aircraft owners want a single point of contact.

Others want a team.

Good management companies want to know why you are switching management companies, says Luxaviation’s Galanopolous.

For example, an aircraft owner who flies 600 hours per year complains that their current company isn’t producing enough charter revenue yet won’t pay to hire a third and fourth pilot.

“You know you can’t win,” he says.

Avcon Jet’s Alexander Vagacs says some owners don’t understand they are creating their own problems.

While you can initially save money by finding pilots who will work below-market wage, “six months later, they are gone.”

The approach doesn’t consider the cost of changing pilots, particularly new training.

“Cheap is not cost-effective,” he says.

Moore says ensuring a cultural fit and understanding their flying needs is essential.

Management companies have different strengths.

If you fly to Africa, you may want a larger management company with global 24/7 staffing.

This is particularly helpful when you have maintenance issues in a faraway place.

Some have better fuel deals.

Others have better pricing for training.

Dutch Uncle

The management company executives say the most challenging issues arise when clients buy an airplane but aren’t adequately educated about all the costs involved in ownership.

Moore says having unrealistic expectations for charter hours leads aircraft owners to unrealistic expectations of how much ownership costs.

Customers also don’t always understand the extra expenses and requirements to have their aircraft on a charter certificate.

Vagacs says it’s important for management companies to understand what the customer was sold.

READ: Private Jet Owners Speak About The Good And Bad Of Ownership

No Free Lunch

Private jet management company executives say that if you own a private jet, you have to pay the piper.

If a management company offers a service for free, it probably makes up the cost elsewhere, such as fuel or maintenance.

ACAM’s Broderick says management company pricing is based on hard costs, including staff.

“We can’t go down because we have our overheads,” he says.

However, he says the management segment is ripe with pilots who do management on the side and start-ups that don’t have the resources or systems.

Moore says, “I’m sure I can get somebody to cut my grass for a dollar less.”