Hawkeye Aircraft has developed three guides to utilize as an overview for the buying or upgrading of a jet. The summaries are outlined here. For the complete guide please email your request to [email protected]
Serious Questions for Serious Aircraft Buyers
The aviation industry has changed from a few years ago. Transactions as well as aircraft are more complicated. It is estimated by industry sources that 85% of new and pre-owned aircraft transaction have a buyer’s expert on their side.
Answering these 17 questions will give you an idea if you and your team have all of the tools and planning in place to go it alone, or if you should hire an expert to avoid expensive mistakes and provide for a better transaction.
Jet Buyer’s Guide–Upgrade Buyers
The decision to upgrade your current plane is like any other business decision. It requires careful analysis of your needs, market knowledge, process and strategy. It requires a team approach that will include accounting, legal, technical users, and end users. Understanding the current situation and clarifying what future requirements and desires will be allows you to make a sound business decision on what is the best fit for these missions.
Jet Aircraft Buyer’s Guide—Purchase, Charter or Fractional
Aviation can provide your company many positive financial benefits. Buying the wrong solution can be expensive and not easy to untangle.
The first item is a determination of why I want to consider an aircraft. The second determination is how many hours per year do I think I will use the aircraft. The easiest method of determining hours is to take the number of trips you currently take, find out basic mileages and divide by the speed of the aircraft or your current charter hours/fractional hours.
There are no absolutes in aviation however, as a general rule of thumb, if you fly 150 hours or less the whole aircraft might not be the best solution. “Might not be” is determined by questions like is my flying going to expand over the upcoming years, would I consider chartering out time on my aircraft to offset costs? The average aircraft owner flies between 250-400 hours per year.
The aircraft purchase is only a portion of the overall process. You need to understand the operational costs and you need to have an exit strategy. All three of these will provide you the lowest total ownership costs and they need to be considered as part of the purchase strategy. You will need a team to help with the evaluation, operational issues, legal and tax issues. All of these take time to be properly set up and ready for the actual purchase and in service of the aircraft.