For decades, private planes were the exclusive right of the super-rich. Today, not even a multimillionaire can afford to own a private plane and, in most cases, they would never want to ‘buy’ one either.
Today’s rich prefer to lease aeroplanes or charter flights rather than buy an entire aircraft. In this article, we will tell you how and why the rich fly private.
It’s all about time.
The rich value their time more than the regular folks. On average, it takes about 2-3 hours to board a plane and deboard when you are flying within the country. The hassle of security lines, airline delays and noisy neighbours all make a good case against public air travel. To save time and the nuisance of long lines, the Rich prefer to charter a jet.
Commercial flights run as per schedule and on designated routes. That is not very convenient for a high-flying executive who needs to hop three cities in a day. When you fly private, you can switch the destination with a minute’s notice, giving you a lot of flexibility and control over your time.
Coming to the ‘How’ of private planes, there are three ways you can fly private.
- Ownership: This is the most uncommon way for flying private. Plane owners are an exclusive club, and the average wealth of such people is $1.5 billion. It is best suited for those for whom money is really not an object anymore.
- Fractional ownership: This idea works exactly like a timeshare. A group of people buy partial ownership of a plane, and each person has a specific amount of time allocated to them.
- Jet card membership: A jet card is like a pre-paid card for private flights. You can buy a set number of hours of a private plane.
Convenience is one of the biggest reasons people love to fly on a private plane. And now you know the options available.