Tag Archives: hangar space

Fractional Jet Ownership

12 September 2023   General

Perhaps you’ve always dreamed of owning a private jet, but the reality is it’s simply too expensive. For the vast majority of people the cost of owning a private jet is prohibitive, but that doesn’t mean your dream has to be out of reach. Things like fractional jet ownership, private jet charters, and private jet memberships are becoming more popular as people realize that they can use private jets without paying the full cost to own one. 

Fractional Jet Ownership

Similar to shared ownership for a home, fractional jet ownership is an arrangement created by several people who agree to share the costs of owning, operating, and maintaining an aircraft. Rather than singular ownership where the aircraft sits in storage for months on end, pitching in and sharing with a group makes it more affordable and also ensures the aircraft is used more frequently. It’s a great solution for everyone. 

Cost & Flight Time

Each fractional owner will have a specified number of hours that they can use the aircraft either each month or each year. If everyone owns equal shares in the aircraft then the hours will be split evenly. However, if someone purchases more shares than the other owners, they may be granted more hours due to them owning a larger percentage of the aircraft. 

The typical costs include:

  • The capital or acquisition fee
  • Monthly maintenance fee
  • Occupied hour fee
  • Other associated costs, like a monthly management or storage fee

The costs depend on what type of aircraft you want to jointly own, so please contact our team who can help you understand which costs are associated with which aircraft. 

Benefits

  • Privacy and convenience: Flying via commercial airports is stressful and you’re often subjected to cancellations and delays. Fractional jet ownership allows you to enjoy the privacy and convenience of flying private without being responsible for the full cost. 
  • Flexible availability: Last-minute change of plans or taking a trip with short notice won’t be a problem when you jointly own an aircraft. Buying a plane ticket at short notice isn’t always guaranteed because of availability, and last-minute tickets for commercial flights are extremely pricey. 
  • Tax deductions: When you own an aircraft, even if you own it jointly, you might be able to claim depreciation deductions on your federal tax return.

Alternative options

Chartering: Private jet charter is always an option, and while it may cost you more upfront, you won’t incur any of the costs associated with being a fractional aircraft owner. You can charter a private jet through a broker or contact us to learn more. 

Private jet memberships: A private jet membership allows people to access private jets by paying a monthly membership fee. If you fly often but don’t want to purchase shares of an aircraft, a private jet membership is an ideal option for you. 

For more information about fractional jet ownership, or if you have any questions, please contact our team at Monmouth Jet Center today. Discover why so many people come to us when they have questions about sharing the cost of a private jet. We look forward to hearing from you.

How To Prepare an Aircraft for Long Term Storage

12 July 2022   Around the Airport

As most pilots would agree they want to fly as often as possible, however life sometimes has other plans. If you find yourself needing long term storage for your aircraft, there are a few things you should consider. If you don’t already keep your aircraft in a hangar when you’re not using it, you should consider renting a hanger as it will best protect your investment. Leaving an aircraft on an outside tie down long term, while not using it often is a recipe for additional maintenance costs. 

Hanger Space is your Best Option 

If you won’t be using your aircraft for the foreseeable future, hangar space is the best option to protect your plane from elements like moisture which can cause multiple hush cost problems, birds looking for refuge and even sun damage which can fade your paint job, and the interior of your aircraft. The rent you pay for a hangar could pale in comparison to the kinds of expensive repairs an inactive plan stuck outside may need in 6 months. Inside a hanger you will keep your aircraft safe and keep the maintenance bill as low as possible.

What to Consider When Looking for a Hangar

Generally you can look at a wider range of airport locations when shopping for the best deal on hangars for storage, because proximity isn’t as important as it would be for frequent fliers. Monmouth Airport actually houses a number of aircraft for NY based clientele who enjoy the lower hangar rents than NY area airports, but they can still get from the city to their jet in an hour by car, or 20 minutes by helicopter.

Additionally, hangar spaces come in different sizes, so it’s important to make sure you get something big enough to comfortably house your aircraft but also not so big that you are paying for wasted space.  All hangar spaces should offer electricity and water, if you need to vacuum, wash, or preheat and charge your aircraft battery. Some hangars at Monmouth Airport are also heated or come with a small flight office particularly helpful for small commercial operators. 

Hangars at Monmouth Jet Center 

Monmouth Jet Center has affordable hangars available where you will be paying a fraction of the price they charge at a busy airport like Teterboro. Additionally in most cases you don’t have to be on a waiting list for a hangar, they normally have them available immediately. Because you choose to store your aircraft at a smaller airport, you also enjoy lower fuel costs and a more relaxed class 2 airspace compared to the hectic airspace at a busy NY airport. Give our experts at Monmouth Jet Center a call today to answer any questions.

Jet service and hangar space – rent or build?

7 December 2021   Hangar Space

If you’re in the market for aircraft hangar space then you have several options: renting, buying, or building. Your aircraft is a big investment and having a safe place to store it is essential. In this article, our NJ team at Monmouth Jet Center explores the various options available to you when it comes to acquiring hangar space. 

Investor owned or leased?

If you want to invest in your own aircraft hangar, you always have the option to lease it when you’re not using it. Many investors negotiate ground leases with local aircraft owners who need hangar space. And at smaller airports like Monmouth Jet Center, you’ll never have to put your name on a waiting list or wonder if there will be space for your aircraft. 

Advantages of owning a hangar

When you own a private hangar you can customize it to your exact specifications. You’ll never need to negotiate any hangar leases or worry about finding hangar space to rent, and you’ll have the peace of mind that comes from knowing your aircraft is completely secure. Another advantage of owning a hangar is you always have the option to rent it out in the future, earning you extra income. 

The cost of building your own facility

Costs vary depending on your needs, but as a general rule, you can expect to spend $22 per square foot when building a custom aircraft hangar. It’s important to understand that when you build your own facility, you will technically own the hangar, but you’ll still be leasing the ground it’s built on. You’ll also be responsible for insurance costs, maintenance costs, repairs, and any upgrades you decide on. 

The benefits of leasing space

Leasing can be a convenient option if you aren’t ready for the responsibility of owning your own hangar. Each airport has its own terms and conditions with ground leases, and at Monmouth we do our best to accommodate your needs and your schedule. 

If you’d like to know more about renting or building custom hangar space, or if you have any questions about our airport, please contact our team at Monmouth Jet Center today. We look forward to hearing from you.

What is an FBO airport?

5 October 2021   General

A fixed base operator (FBO) airport is an airport that has granted permission to an organization (a FBO) to use the airport to provide a variety of services, including refueling, aircraft maintenance, hangar space, pilot training, and more. FBOs are commercial companies that operate on airport property, and they often enhance the scope of services the airport has to offer. In this article, our team will discuss the advantages of FBO services and how they differ between private and passenger aircrafts. 

Important services FBOs provide 

Depending on the size of the airport in which they’re located, FBOs provide a range of important services and amenities for both private and commercial aircraft, pilots, crews, and passengers, including:

  • Fueling services
  • Parking
  • Custom hangar space
  • Taxi and shuttle services
  • Private jet charters
  • Flight lessons
  • Aircraft repair and maintenance
  • Lounges for pilots and crew
  • Baggage handling

… just to name a few!

Private versus passenger aircraft 

FBO airports work with private jet charters to provide hassle-free passenger security screening, so you won’t wait in long queues. FBOs also handle boarding and baggage delivery, while many have restroom facilities, showers, lounge areas, and concierge services for pilots, aircraft crew, and passengers. For the ultimate flying experience, some FBOs provide in-flight catering, making sure your every need is taken care of while you’re in the air. 

Passenger aircraft also utilize services at an FBO airport, including taxi and shuttle services, airport lounges, long-term and short-term parking, WiFi, and restroom facilities. 

Airport amenities at FBO Airports

Waiting in an airport is much more comfortable when you have access to a range of amenities. At FBO airports, you’ll commonly find free WiFi, restroom facilities, lounges where you can rest and recharge, and light refreshments. Amenities for pilots and airline crew often include all of the above plus shower facilities.

Ground handling at FBO Airports

Ground handling includes a range of essential airport services, including sorting and delivering baggage, ramp handling for boarding and deplaning, managing passenger check-in, fuelling the aircraft, and cleaning. Ground handlers often go unseen but their roles are critical, and airports cannot function properly without them. 

For more information about FBO airports, or if you want to know more about the services and amenities we provide at Monmouth Executive Airport, please contact our team today or visit our website at: https://monmouthjetcenter.com/

Confidence in US private jet industry continues to increase in 2018!

22 January 2018   Hangar Space

Business is booming for the private jet and aviation industry, and a recent study by Victor has revealed some interesting trends that show how the industry is evolving – and what operators have to look forward to in 2018. Here are some interesting insights from the team at Monmouth Executive Airport in NJ.

Bigger jets, exotic locations and unique travel plans 

The Victor report, which focused on US booking trends for 2016, showed that there was a significant increase in demand for larger-capacity jets for long-haul journeys to more adventurous locations. In fact, bookings for big private jets like the Gulfstream IV and Bombardier Global 600 experienced a 98% increase in bookings.

This is also reflected in their consumer behavior findings that revealed an unprecedented 82% of route pairings booked through Victor were unique – showing that journeys weren’t being repeated. Instead, clients were choosing to vary their destinations and even favor more unusual travel locations off the beaten path.

The most popular jets and the most popular destinations

So, what private jets do travelers prefer? The Gulfstream IV, Hawker 800XP, Phenonm 100 and Hawker 400XP all ranked in the top 5, but the ever-popular Citation CJ3, CJ2 and Learjet 60 all ranked in the top 10 as well.

As for where they were going, the top ten destinations for private jet travel included London (UK), Nice (France), Male (Maldives), Zurich (Switzerland), Ibiza (Spain), and Dar es Salaam (Tanzania). More locally, Las Vegas, Miami, New York, Los Angeles, Havana, and San Jose Del Cabo ranked highly.

Fly from Monmouth Executive Airport in NJ – To the world 

Monmouth Executive Airport offers the perfect start to any journey, whether it’s to the next state or across to exotic destinations. With the largest private runway in the country, we can handle even the largest private jets with ease, as well as helicopters, smaller jets and piston aircraft.

In addition, we offer hangar space for rent as well as the opportunity to build your own custom hangar space. Our FBO services are extensive and we include on-site aircraft maintenance and repair services, de-icing services, 24-hour lavatory services, aviation fuel loyalty programs and more.

For more information about Monmouth Airport or aircraft hangars in NJ, please contact us or visit our website at https://monmouthjetcenter.com/ today.