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The Latest Trends in Business Travel

Posted by GJC Insider on 11/9/16 3:34 PM

Trends in business travel evolve to reflect the changing pulse of the business world itself. Mobile apps now enable travelers to make hotel reservations or check in with a few simple strokes on a touch screen. Rideshare services provide individuals with another way to get from Point A to Point B in an ever-growing number of places. Alternative forms of payment (such as platforms like Paypal) make payment of products and services rendered more convenient than ever. “Smart” hotels offer technology that anticipates and caters to the needs of business travelers from across the globe.

As Global Business Travel Association (GBTA) Foundation VP of Research and Strategic Initiatives Joe Bates points out, convenience is generally as important to business travelers as cost (and in plenty of cases, convenience is more important). He also notes that companies are willing to make investments for their business travelers when the end result is apt to be higher productivity levels. These may be two of the top reasons that business aircraft leasing has become the obvious choice for numerous companies and independent travelers.

Cost Still a Concern for Many Businesses

While owning a private aircraft may have been a viable option in the past, the new economic realities of the 21st century have made that a less appealing choice for some businesses than it may have been in the past. This is why so many companies are considering private jet leasing over outright ownership. Instead of purchasing an aircraft and taking on all the residual risk of ownership, the wiser investment would be to lease one without risk and all the benefits of ownership. This is a solid decision behind which countless numbers-crunchers for companies can get on board. The benefits of time saving and efficiency are still there to be enjoyed, but smaller businesses don’t need to spend the sum total of their available travel expenses by making such a significant purchase. Ownership is still the preference for a variety of larger companies with employees who travel much of the time; but for a business that can’t sustain the expenditure – or whose employees don’t travel enough to merit the purchase – leasing private aircraft may be the best way to go.

Productivity: Always of Primary Importance

A white paper made available by the National Business Aviation Association discusses the benefits of private jet lease in terms of higher productivity levels – which, in turn, increase the overall value of a company to its shareholders. Since productivity is a top priority for almost any business, the ways that private aircraft leasing can boost production for companies is certainly worth considering. By leasing an aircraft instead of directing corporate executives and other employees to fly commercial airliners, both a company and its customers may benefit.

Traveling via private aircraft maximizes employees’ time, making them more readily available for their business duties while away and when they arrive home. The amenities and environment available aboard a private aircraft also enable travelers to be more productive while they’re flying to and from their travel destinations.

Commercial Air Travel is Less Efficient

Booking a flight on a commercial plane means a person must arrive at the airport about two hours before a flight, as well as endure a typically long wait in a TSA line for a security check. Additionally, the commercial flying experience today may be fraught with other inconveniences, such as cancelations, overbooked flights and weather-related delays.

When employees travel via private jets, they can enjoy the absence of the kind of stress that modern commercial airline travel is prone to induce. Without worry of late or canceled flights, missed connections or oversold bookings, they are free to relax and appreciate the travel experience. They are more likely to arrive at a destination with a clear mind, and thus they will be better able to perform as expected during every business trip.

Private Aircraft Leaves Clients Pleased and Fosters Real Relationships

Employees and shareholders aren’t the only people who benefit from private jet leasing. When clients join company representatives on aircraft flights to discuss the details of current accounts and pending deals, having access to a private jet can make all the difference in how a business is perceived. A business meeting held during a flight on a private jet is likely to leave a lasting impression on an established or prospective client. This is an effective way to make a client feel valued by your business.

Warren Buffett once said “You will never see eye-to-eye if you never meet face-to-face.” Having access to private aircraft makes building this human connection possible, helping you build real relationships with clients no matter where they are located.

Greater Competitive Edge

A stronger team and pleased clients could give a company a serious edge on the competition. Because private jet lease enables executives to offer greater flexibility and responsiveness in terms of meeting with associates and clients, a company that selects this option may be increasingly propelled toward untold success. This might be the best reason of all to consider the lease of a jet.

Once a business makes the decision to lease a private aircraft for business travel, the next step is financing an aircraft that is suitable. Work with a team of trusted professionals well-versed in the industry by reaching out to Global Jet Capital for all of your aircraft financing needs. We’ll put our combined 200-plus-years of industry experience and over 3,500 completed aircraft transactions to action to help ensure your aircraft financing process is as smooth and timely as can be. Contact our representatives today by calling +1 (844) 436-8200 or email us at info@globaljetcapital.com.

Follow us as we explore the changing landscape of the private aircraft market.

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