When it comes to managing highly-priced assets like aircraft, there can be no second-guessing. Such valuable machines can only be handled by a trusted professional aircraft management company, so it’s essential that you conduct due diligence when shopping for the best provider to manage your aircraft. This piece considers the factors involved in choosing an aircraft management company.
What Is Aircraft Management?
Aircraft management refers to the services offered through a company contracted to operate a private aircraft. The provider offers all the necessary services required to fly and maintain airplanes. This may range from sourcing and managing flight crews to ensuring the aircraft is compliant with all industry regulations. Additionally, management companies offering turnkey aircraft services can lease the aircraft when it’s not in use to generate revenue for the owners.
Four Things to Look For in an Aircraft Management Company
Apart from serving your personal needs, the following are four additional benefits that a great management company should offer:
1. Safety Certifications
Safety is paramount in all aircraft operations. The right company is dedicated to safety, as evidenced by high annual safety ratings and standards. Have a licensed safety professional go through the company’s annual safety audit documents before you sign any contract with a management company.
2. Operational Capabilities
Not all aircraft management companies offer the same services. Operators vary in what they offer, with services ranging from pilot training programs to maintenance and management. So compare the company’s operational capabilities against your specific needs. Then you can ensure you get great value for every expense. Also, it is a good practice to establish your own particular needs and find a provider that can meet them to your standards.
3. Financial Stability
Owning and managing an aircraft is expensive. In fact, there are several management-related costs to consider, including crew salaries, hangar fees, fuel, insurance, licensing, and many others. So the right company should boast a healthy financial muscle to guarantee the smooth running of these operations. Trust and transparency are critical pillars in aircraft management, and this should be reflected in a company’s financial operations.
4. Facilities and Local Presence
The right aircraft management company should also have a presence in your local airport. If the company you partner with is operating locally, then the teams should be supported by a robust operations center in charge of flight coordination, crewing, HR, marketing, and accounting.
How Much Does Aircraft Management Cost?
Aircraft management costs can vary depending on several factors, including the service offers, type of aircraft, and location. Most providers charge between $5,000 and $15,000 a month to manage private aircraft.
What Will the Aircraft Management Company Take Care Of?
Aircraft management companies are in charge of all or part of the operational responsibilities of an aircraft. An ideal company offers these services:
- Technical services such as maintenance and repair
- Crew management such as hiring and payroll
- Training of personnel
- Compliance with all FAA compliance requirements
- Security for the aircraft and travelers
- Customer service and support
- Financial management services
- Flight bookings
- Flight planning
- Charter marketing/sales
What Makes Mayo Different?
Mayo is a top-notch aviation company specializing in aircraft charter, aircraft parts, maintenance, and air ambulance services in Denver. We also provide private jet management, business aircraft charter services, and jet aircraft maintenance. We understand that owning, operating, and managing a private plane can be taxing both mentally and financially. So we will take care of all the management aspects of your assets so that you focus on the core tasks of your business.
At Mayo Aviation, we provide high-quality management solutions and manage all the plane operations of your aircraft on your behalf. Our team takes care of all essentials tasks and maintains high-quality services at all times to guarantee you peace of mind and high ROI. When collaborating with Mayo, you can rest assured your assets are in safe hands. Contact us today for more information about our services.