Owning a private aircraft is a significant investment, and choosing the right management company to handle its operations is crucial. The right company can ensure the aircraft owner’s safety, efficiency, and peace of mind. This blog post will explore the essential factors to consider when selecting an aircraft management company.
1. Reputation and Client Retention Rate
When evaluating potential management companies, it’s important to look beyond the number of planes they manage. Focus on the company’s structure, including whether they have multiple base locations and a strong customer base. A good reputation and high client retention rate are strong indicators of a reliable and trustworthy management company. See if the company has any reviews available, and if possible, talk to someone who has worked with them before.
2. Safety Credentials Matter
Safety should be a top priority when it comes to managing your private aircraft. Ensure that the company is WYVERN and ARGUS-rated and, ideally, holds ARGUS platinum and WYVERN Wingman certifications. Additionally, look for ISBAO stage two or three qualifications, which signal international competence and adherence to high safety standards. A current understanding of mandates and regulations is crucial to ensure compliance and avoid delays or costly rework.
3. Historical Performance
Research the company’s track record, paying particular attention to any FAA incidents or letters of investigation. This information provides valuable insights into their reputation and operations. A company with a clean history and a strong safety record is more likely to provide reliable and secure management services.
4. Qualified Crew
The competence and training of the crew are paramount to the safe and efficient operation of your private aircraft. Inquire about the company’s crew training process and the standards to which they are held. A reputable management company will have a rigorous training program in place to ensure their crew is well-prepared for any situation.
5. Transparency
Clear communication and transparency are essential for a successful partnership with an aircraft management company. The best managers will be able to break down your costs, provide regular updates, and offer comprehensive reporting. The best managers will also make it easy for you to stay informed about aircraft costs, location, and maintenance. With technology advancements in this sector, most managers will create an online portal for their clients to access, rather than having them comb through PDFs and monthly statements. This level of transparency helps you stay informed about the status and performance of your aircraft.
Selecting the right management company for your private aircraft is a decision that should not be taken lightly. By considering factors such as reputation, safety credentials, historical performance, crew qualifications, and transparency, you can make an informed choice that ensures the safety, efficiency, and overall success of your private aircraft ownership experience. Remember, a reputable management company will prioritize your aircraft’s well-being, allowing you to confidently enjoy the benefits of private aviation.
Are you curious to learn how to prepare for aircraft ownership? Check out our eBook on everything you need to know to make your purchase. This resource is part of a two-part eBook series designed to ensure you don’t miss any critical steps as you pursue private aircraft ownership.
