Review These Three Pointers For Choosing Service Providers For Aircraft Charter and Management (ACM)
When it comes to aircraft charter and management, most investors and aircraft owners have their concerns. Review these essential areas for choosing a service provider that matches the needs of your business.
Every aircraft owner has unique aircraft requirements. It is important for owners to balance their own aircraft usage needs and with the benefit of third party charter which can offset a portion of the fixed cost of aircraft ownership. If you have multiple aircraft, you should expect incrementally better returns, both in terms of service and fixed cost reduction, and this is precisely where professional aircraft charter management services matter. There are a handful of companies around the world with full international operations. These essential aspects must be reviewed before you engage one of them.
1. Understand your goals
When it comes to aircraft charter and management, the expectations and objectives should be customized to meet the mission profile and demand of the aircraft owner. As an owner, you should expect and demand seamless service from a management company which would surpass your ability to self-manage your aircraft or fleet. The best way to ensure the same is to ask the management company to tailor a plan to your specific needs. Your management company should provide a detailed plan by aircraft which estimates revenue and every single fixed and variable cost based upon projected availability and usage.
2. Check for expertise
Aviation is a field in which you cannot take experience for granted. Make sure that you look for service providers with deep experience in the market and are equipped and experienced enough in your type of aircraft to offer specialized services. From management of general maintenance and fixed base operations to arrangement of in-flight services and other requests, the company should have everything proven track record of meeting customer expectations. The ACM company should be able to offer ways to reduce costs and streamline expenses – a concern for every aircraft owner.
3. Additional assistance
Many companies also provide advisory and consulting services for other general aviation services, which can be an added benefit for owners looking to expand their aviation holdings beyond ACM. Check if the concerned service can handle capital project management services, Maintenance, Repair and Overhaul (MRO) and Fixed Base Operations (FBO). You may also want to know the type of custom managerial reporting packages that a company can offer, which will help in defining the metrics for success, results, and profits. Cost containment programs are paramount for private aircraft owners, and it is best to partner with a management company which has a deep history in aviation and a large inventory of industry leading best practices.
If you are hiring an aircraft management service for the first time, be certain to diligence management candidates accordingly. Seek detailed feedback on the kind of the expertise they can offer for your custom needs and the range of projects they have handled which are similar to your mission needs. Requesting references and checking the work portfolio is an excellent way to evaluate prospective management companies, and you may want to give more weight to services that have exposure in the international arena if global operations are a part of your mission profile. With a clear and defined set of goals and the right management partner, charter operations can become straightforward and less burdensome to the aircraft owner, with increased operational efficiency and reduced total fixed cost of ownership.
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ABOUT THE AUTHOR
Global Aviation Infrastructure is a leading aviation management company which provides Fixed Base Operation (FBO), Maintenance Repair and Overhaul (MRO), Aircraft Charter and Management (ACM), and aviation infrastructure management for aviation asset owners, corporations, airports, private equity firms, family offices and financial institutions. For more information please visit www.aviationinfrastructure.com