Presents trends in the private aviation business market are constantly tied with the digitalization of the business. The increase in aircraft accessibility and how customers are shifting how they relate to this service. With cost-efficiency as the main driver rather than pure luxury. All the previous are from a user perspective:
What’s there to be done for those providing the service? How can brokers and operators continue piloting change in today’s ultra-competitive environment?
Here are five areas that may help private jet providers worldwide reach higher. By generating revenue diversification and therefore minimizing susceptibility to external political or economic changes.
Diversification
Operators and brokers alike, but particularly charter brokers, will capitalize in other segments that require private jets or turboprops. Air medical services arise as a solid business line due to increasing demand from hospitals and insurance companies.
Some operators can interchange their aircraft between a business and air medical configuration. However, those that aren’t would need to invest before jumping in this market, aside from having trained medical employees.
Brokers will simply sort through jets and companies that already have these capabilities as well as a certified medical team and organize the service. Freight transport and business continuity operations are also possibilities to broaden the scope of services from private aviation providers.
Connecting Routes Without Commercial Aviation
Being the go-to choice once connecting passengers with airports without a reduced number of commercial flights is what business aviation is all about. However, there’s room for providers within the market to be more aggressive.
What about building ties with airlines to secure a steady demand for flights to remote terminals? or even generate tailored deals for customers interested in these routes?
Straightforward market research will provide the routes and the estimated number of passengers that may be willing to pay a touch more for their trip rather than boarding 2 connecting flights which will take four to eight more hours to get to the destination instead of a direct private flight.
Minimizing Costs
Isn’t this the goal for every business? yes, but particularly in aviation and especially private aviation. The shifting costs of fuel and insurance, the shortage of pilots, and new players in the market with fewer overhead costs and thus cheaper prices are some of the variables that demand a reduction in costs.
Being more efficient in spare parts sourcing and maintenance in general, following fleet commonality and thoroughly choosing cost-efficient suppliers. Like FBOs and catering companies, it can help cut back costs in this competitive industry. This goes particularly for operators which, in hand, will help brokers deliver a lot of appealing proposals for their customers.
Reshaping The Experience Of Private Aviation
It’s on private aviation providers to deliver the right message to their customers and potential users.
Luxury is way in the past, and the new keywords in the business such as flexibility, time, and availability should lead the way. The possibility to depart and land at virtually any airport, at any time and ten minutes prior to the scheduled takeoff is second to none.
Using the word luxury may not be aligned with the expectations of new users, which will use the service as a necessity instead of seeking exclusivity. That’s old-school business aviation.
Charting a turboprop for a two-hour flight for 6 passengers to an airport with only 3 weekly commercial flights is more about time efficiency and opportunity than luxury, don’t you think?
Lobbying For Private Only Airports
We all understand how’s the experience of a huge international airport from a passenger perspective. Crowded, to say the least. and the same thing happens for private aircraft; they still must use the same jammed runways and taxiways as larger airliners, thus spending plenty of minutes grounded.
There are hundreds of terminals dedicated to private aviation that serve as second choice airports if an emergency arises.
Teterboro in new york, john Wayne in LA, Miami-Opa Locka executive airport, Chicago Midway, and Dallas Love Field are some of the foremost concurred in the states by private aircraft. they’re close to each city’s downtown and have a great infrastructure, from FBOs to massive hangars.
As the amount of private aircraft continues to increase, this market needs additional dedicated airports in order to continue delivering the promise of efficiency.