The typical private charter price tag might make some people baulk.
But, for HNW individuals and business moguls, private charter looks more like a valuable asset than an expensive indulgence.
Find out how the value of business leaders’ time stacks up against the cost of private charter, and how communicating this value could inspire industry growth.
How much is a business leader’s time worth?
Take a quick look at what FTSE 100 company bosses get paid:
|Annual pay||Pay per day (based on 227 working days per year)||Pay per hour (based on an 8-hour working day)|
|Highest paid CEO (Martin Sorrell of WPP)||£70m||£308,370||£38,546|
|Average CEO salary||£5.3m||£23,348||£2,918|
A round-trip from LAX to Tokyo Narita Airport would cost around £9,383 for a private flight, or up to £4,918 for a first class ticket.
Therefore, an average FTSE 100 boss would only need to gain around an hour and half of working time to make the additional expenditure worthwhile.
When flying with a private airline, passengers can:
- Skip the usual check-in and arrivals procedures
- Schedule flights for convenient times
- Fly direct to the most convenient airport
- Work while airborne in peace
- Recover from jet lag and travel fatigue faster
Check-in and arrivals can take two to three hours alone. So, with all these other aspects factored in, it’s clear to see that the financial saving could be substantial.
And, if the boss flew with colleagues or other HNW individuals, then the amount they would have spent on a first class ticket could be deducted for every other passenger.
Communicating private charter’s value can generate industry growth
By better communicating this value proposition, you could increase your customer base and help the industry reach new heights.
Here are some of the ways you can start getting the value message out there:
Look at new markets
The corporate landscape has shifted since 2008. The global business elite increasingly come from all corners of the globe, and are coming from a more diverse range of new industries (such as technology).
You need to put more effort into presenting value to this new market, promoting your service to a broader audience and tailoring your messaging accordingly.
Private charter is an exciting sector that frequently transports HNW individuals to key meetings and large-scale corporate events.
Be active and open in telling this compelling story – how you offer value and go above and beyond for your VIP clientele – to build an authoritative reputation and reach out to a new client base.
Use new methods and means to present your argument in the clearest, simplest light.
Experiment with shareable digital resources like infographics and cost calculators to distill the value-related message.
Then, strategically share it on social media to get it out to a broad audience of people who might be interested in your services.
Private charter clearly lives up to its price tag. And, as we’ve outlined in our latest white paper, the industry is on the march once again.
But, by spelling out this value proposition effectively, you can broaden your customer base and give your company the demand it needs to grow.
Get the expert aviation insight and recruitment support you need to grow your airline by calling on the friendly team at AeroProfessional.