Aircraft charter and management is one of the most complex sectors in general aviation services that require experience and professionalism. There is a unique relationship between an aircraft owner an…
Aircraft charter and management is one of the most complex sectors in general aviation services that require experience and professionalism. There is a unique relationship between an aircraft owner and a management company which operates the aircraft. This connection is more intense than a traditional relationship of a vendor and a customer.
When an aircraft owner purchases an aircraft but does not desire to staff and management the flight department themselves, they turn to an Aircraft Charter and Management (ACM) operator to handle these arrangements for them.
Every aircraft owner wants to hire a company that can easily understand their specific mission requirements. Several factors are required to be considered while choosing an aircraft charter and management specialist.
Here are 3 things that every owner should diligence when choosing a management company to operate their aircraft:
Out of all the important factors, experience comes in first. While selecting an aircraft charter and management specialist it is critical to diligence the experience the company has in this industry and managing your specific type of aircraft. Experience plays a crucial role because it demonstrates what type of services in which the operator has a proven track record of execution. Along with understanding their experience, owners should inquire as to the specific experience with similar aircraft types.
Another important factor that must be considered while choosing the aircraft charter and management specialist are their safety ratings. There are both for profit and not for profit organizations which rate Part 135 operators and publish their ratings.
While many aircraft owners desire confidentiality, some are willing to give their names as references. Usually experie3nced operators have some number of prior or existing clients who are willing to give a reference in favor of the operator. Obviously, you will want to speak with a client whose mission profile is similar to your own.
Area of Expertise:
It is important to understand the capabilities and abilities of the operator who is going to provide the aircraft charter and management services. To understand the particular breadth of expertise, the service provider must disclose the summary of their operation and specifications and the specific airframes in which it has experience.
How Do the Aircraft Charter and Management Specialist Measures Success?
Measuring success means the type of reporting received by the aircraft owner meets their expectations and delivers the information they need in an accurate and timely manner. There are specific measurements such as dispatch reliability, but most owners focus on ensuring the aircraft is operated in the most efficient manner possible. A complete owner summary is delivered to the owner by the operator at the end of every month.
It is the right of every owner to seek all the information they would like to see regarding their aircraft. The operator should be able to provide the data in a format acceptable to owner, including mapping to the owner’s general ledger accounts. It can be efficient to implement an Automatic Data Interface so that all data is transferred in real time.
To get results, an aircraft owner must consider all of the points above. The more time and diligence an aircraft owner commits upfront in choosing an operator will usually yield benefits throughout the relationship. If they have limited bandwidth they may wish to engage a consultant to guide them through the process and assist in diligence.
Global Aviation Infrastructure LLC
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Global Aviation Infrastructure LLC provides management and advisory services for corporations, airport sponsors, private equity firms and financial institutions.