OBJECTIVES OF A PRIVATE JET COMPANY.
According to the forbes (2019) a single private jet can bring $2.5 million in economic
benefit to the airport and community where it’s based. This suggests that one
objective of private jet companies could be to boost economic activity in local
communities .Cars ,Jets & Yatch (2023) indicates that private jet companies offer
personalized service to customers. For example, Elite Traveller reports that Jet
Linx’s focus on local services ensures that their jet card memberships can be
uniquely tailored to each customer, creating a level of personalized service that is
hard to find elsewhere in the private aviation industry.
Furthurmore, Private jet companies also aim to provide convenience and flexibility to
their customers. Particularly, using private jet charters can save the inconvenience
that come with owning and operating your own private jet, and saves a considerable
amount of money. Similar to renting a car, you only pay when you use it, which can
be a more cost-effective and convenient option for frequent travellers. Overall,
private jet companies aim to provide a range of services to meet the needs and
preferences of their customers, while also generating economic benefits for local
communities.
LEGAL ASPECTS OF A PRIVATE JET COMPANY
Private jets offer unmatched comfort, privacy, and convenience, but there are several
legal aspects to consider when operating a private jet company. Lawyer monthly
(2020) pinpoints that common legal issues for pre-owned private jets include breach
of contract, third-party damage claims, and maintenance disputes. For new aircraft,
litigation can involve liquidated damage clauses, favored nations clauses, disputes
over delivery terms, delays and manufacturing issues, and aircraft damage.
Benjamin F. Rikkers (2020) indicates a typical approach to purchase the aircraft in
a newly-formed limited liability company wholly-owned by an individual or an
operating company that would utilize the aircraft. The principal objective of this
ownership arrangement is to shield that individual or operating company and other
affiliates from aircraft operations liability.