Planes are complex machines, but an aircraft management service can help you to enhance your business and lift your personal life. When you consider training, safety, regulations, and insurance, the complexity of operating an aircraft can be rather overwhelming.
Management companies offer the expertise and experience necessary to make owning a plane as painless as possible and navigate the complications.
Here are some reasons why you need an aircraft management company:
The main benefit of aircraft management is the convenience it provides. With just a single phone call, an aircraft owner can be able to schedule a flight. Your management company will handle all the details, including hangar needs, assigning the crew, checking the crew certifications, and catering.
The company will also arrange passenger transportation and accommodations. However, this convenience reaches beyond the coordination of flights; all the other benefits associated with aircraft management play a part in convenience.
Safety is usually the primary concern when it comes to airplane operation. A management company offers safety processes and programs that are aimed at improving the safety of airplane operations. From Safety Management Systems to independent audits, aircraft management companies have the expertise and resources to make safety a priority.
Complying with FAA regulations is no easy feat, but being non-compliant can prove costly. Management companies usually employ professionals, in different disciplines from maintenance to flight operations, who are there to help you navigate the complexities of aircraft regulations and laws.
A management company that operates charter aircrafts can offer yet another advantage. It can charter your plane when you are not using it, making it possible for you to earn extra revenue. You can use this charter revenue to reduce your operating costs, which can make owning a plane more economical.
Aircraft management companies usually achieve economies of scale that generate cost savings for the owner. For instance, the companies that operate several aircrafts buy more fuel for the whole fleet instead of buying it for a single plane. This means that such a company can bargain lower fuel prices than you can on your own.
The economies of scale usually translate to savings in hangar rates, insurance premiums, and training costs.
Although aircraft management agreements are different, most companies usually employ pilot, record keepers, bookkeepers, and flight attendants. Such an arrangement allows the management company to lessen your burden of payroll and benefits employee training and HR compliance.
Staff management also generates cost savings because you are not required to pay wages for employees that you only need occasionally.
A management company often provides detailed reporting of plane expenses to you as the owner. They can also follow expense trends progressively and assist in the identification of cost saving opportunities. If you need a specific set of metrics for reporting, let the management company know so that they can customize a report for you.
Are you aware that about 20 percent of the value of a plane can be found in the logbooks? With improper record keeping, documentation, and maintenance, the value of your aircraft can diminish significantly. A management company provides the services necessary to protect the value of your asset, including maintenance tracking programs, fireproofed storage for logbooks, and outsourced maintenance oversight.
If you are looking for aircraft part suppliers, you should consider asking your aircraft management company for suggestions. They have vast connections in the aviation industry and can refer you to some reliable suppliers. Are you considering hiring an aircraft management company? You should start by finding out as much as you can about the company.