The main factors that influence a client’s choice of jet charter service providers are:
Safety
In regards to safety; there are two main companies that do third party safety verifications, namely ARG/US and WYVERN. These companies evaluate the operators, the private jet, and the pilots per given trip to make sure that they are FAA part 135 compliant. ARG/US and WYVERN have raised the bar on the transparency of safety standards in the jet charter industry and operators are motivated to achieve a higher safety rating. Some ratings require an onsite audit and some don’t, but both require verification which proves the pilots, the private jet and the operator to be airworthy and part 135 compliant. Jet charter service providers such as Paramount Business Jets conduct their own safety analysis for each flight and also consistently work with safety verification corporations such as ARG/US and WYVERN to ensure that every private jet selected far exceeds all safety requirements mandated by the FAA.
Flexibility
Flexibility is another important choice since jet charter travelers often want the luxury of being able to choose their private jet size based on the number people flying with them. There are different categories of private jet such as light private jet, mid-size private jet, and heavy private jet. Some trips may require a smaller private jet which translates into cost savings while some may require a larger private jet which may also translate into cost savings and comfort depending on the number of people traveling and the distance for the trip. Jet charter service provider such as Paramount Business Jets provides greater flexibility and choice of private jet and unlike fractional ownership or other membership programs, there are no penalty charges or other financial losses when choosing private jet types or sizes.
Cost
Last but not least the cost factor plays a very important role in determining which jet charter service provider to use for any charter flight. Since the introduction of the private jet charters in the early 1960’s people have been seeking more cost effective methods of flying privately. In 1986 Richard Santulli of Netjets introduced the concept of fractional ownership, which divided the cost of a business jet by up to sixteen people. Fractional ownership requires a large upfront investment and the hourly rates are comparatively very high when compared to jet charter services. Currently, the most cost effective options to private jet charters are on-demand charters and ‘Jet Card’ membership programs. At Paramount we encourage fractional owners to fly with us and use their expensive fractional hours as a backup. The key is to enjoy the benefits of private jet ownership and fractional ownership without being responsible for the cost that is associated with these models.
Paramount Business Jets exists in a purely competitive market in which there is potentially unlimited competition and easy entry/exit in the market. One of the major factors influencing choice of a jet charter broker is the professional credentials, experience and reputation of the company. Clients in this particular industry often seek to establish long-term relationships with jet charter providers to ensure that their stringent demands, personal preferences and requirements are met. Quite often, word of mouth marketing provides more business than advertising, although targeted advertising (especially through internet advertising campaigns) creates awareness of the company’s existence and experience level.
