Considering a Plane Purchase

Owning a plane can make sense for companies that do business around the country or globally. Private air travel offers convenience and efficiency that commercial airlines cannot match—important considerations when time means money.

Although the decision to buy an aircraft might seem a no-brainer, making the right choice is not. "It’s ‘buyer beware,’" says George Thomsen, owner of Naples-based Aviation Management Systems. "You want to deal with an honest broker who provides the cold, hard facts."

When Thomsen brokers a deal, he leads his clients through a litany of considerations to find the right prop plane or jet that meets their budget.

First, he determines the anticipated frequency, travel distance and number of passengers, which he calls the mission profile. If a company is flying only a few executives around the state, a large jet that can cost up to $47 million is not the answer. He might suggest, instead, a smaller plane, such as a twin-engine craft starting at about $500,000. Companies that require travel to other states or countries would be better suited to a jet capable of flying at higher altitudes for longer distances.

Once the type of craft is settled on, Thomsen scopes out new or used options. If a plane has been flown before, Thomsen requests flight and maintenance logs, damage history and a thorough inspection. Unless those needs are met, he won’t continue with the deal.

He also conducts a cost analysis that includes prices for fuel, ongoing maintenance, insurance, airport scheduling, storage and flight crews, all of which can add thousands or millions of dollars to the expenses.

"We get a lot of owners who want a Gulfstream," widely considered the top of the line in aircraft, says Thomsen, who started his company at the Naples Municipal Airport 22 years ago. "We ask them if they realize what it will cost per hour to operate. We look at not what the owner wants but what the company needs."