To evaluate the private jet charter costs you have to take into consideration 3 main factors:
#1. Value of Time (Financial Opportunity cost)
If the passenger’s skills are in demand in multiple places, and they earn more than a certain amount of money per hour or per day, it simply doesn’t make sense for them to be sitting in lines or waiting to board at the airport. Waiting is a waste of money.
This can be a CEO or Motivational Speaker or a sports star or anyone who has to be there to get their job done. They also may prefer to be home with family as soon as possible. In one example? A flight from Jamaica to Mexico is only about 3 hours in a private jet.
If you take scheduled travel you would have to go through Miami and that’s now about 8 hours in the air, plus waiting time in Miami.
Also, factor in local (ground) travel time. With a Jet, you can go to the closest airstrip to your destination even if it is not an international airport, instead of having an additional 2-hour bus or limo ride.
In conclusion, the crucial question here is:
How much is your personal time worth
(or the time of your employee)?
#2. Health / Medical Emergency
This is usually about moving as quickly as possible in life and death situations, but it can also include special illnesses where a person is so sick that they cant travel by conventional means (because of cabin compression at high altitudes).
#3. Security and Privacy
For many companies, simply having certain key officer’s movements known to the public is a security risk. For other people (celebrities) they may not want to have to deal with journalists, paparazzi, or just over-zealous fans.
For ‘normal people, only health and medical emergencies would really justify the expense. MANY of us would spend a huge chunk of our life savings to be home in time to say goodbye to a dying family member or to save our family member’s life.
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