Aircraft management refers to the services offered by an aircraft management company. It can be broken down into two categories: airplane charter management and turnkey aircraft management.
Airplane Charter Management
Charter management services allow the client to maintain the operations of its aircraft. The management company offers charter services while working with the owner/operator. This services allows the client to generate revenue by using the aircraft when it’s not in use by the management company. Before the aircraft is scheduled for a charter flight, it would need to be approved for a charter certificate.
Turnkey Aircraft Management
If an aircraft is operating under turnkey management, the management firm takes complete control the of the individual or company’s private aircraft. Basically, the aircraft owner signs over all operational responsibilities to the management company. Some of the included services are:
- Maintenance and repairs
- Crew management including payroll
- Training for crew members
- Ensuring FAA guidelines are met
- Arranging all details for charter flights
- Taking over the accounting of the aircraft’s financial management
When a client chooses a turnkey management style, they are typically looking for a management company that seeks to simplify the aircraft ownership and handle to day-to-day operations in an efficient, cost-saving way.