I often speak to CEOs about the financial return of business aviation. The financial return of business aviation can be measured in a number of ways, but some of the most common metrics include:
- Time savings: Business aviation can save time by flying directly to your destination, bypassing commercial airports and security lines. This can save you hours or even days of travel time, which can be translated into lost productivity.
- Cost savings: Business aviation can save money by avoiding the high costs of commercial airfare, especially for last-minute or short-notice travel. It can also save money on ground transportation and other expenses.
- Increased productivity: Business aviation can increase productivity by allowing you to travel more efficiently and effectively. You can spend less time traveling and more time working, which can lead to increased profits.
- Improved customer service: Business aviation can improve customer service by allowing you to meet with clients or customers more quickly and easily. This can lead to increased sales and improved relationships.
- Attracting and retaining talent: Business aviation can be a valuable tool for attracting and retaining top talent. Employees who are able to fly on business aircraft are more likely to be satisfied with their jobs and less likely to leave your company.
The financial return of business aviation will vary depending on your specific needs and circumstances. However, in general, business aviation can be a cost-effective way to travel for business. If you are considering using business aviation, reach out to get a more accurate estimate of the financial return for your company.
Here are some additional things to consider when evaluating the financial return of business aviation:
- The cost of ownership or charter
- The cost of operating and maintaining an aircraft
- The frequency of your flights
- The distance you need to travel
- The value of yours, employee and client time
- The needs of your employees
- The competitive landscape
I hope this helps!