Private Jets: Making The Impossible Possible
James Butler Walks Family Worth Report Through the Evolution of Private Aviation
A financial advisor or family office often is the first place you’d turn when considering a private aviation investment. Understandably, however, most financial advisors and family offices don’thave the aviation and legal expertise required to negotiate the best private jet deal. In his recent contribution to Family Worth Report, Shaircraft Solutions CEO, James Butler, provides an expert's perspective on the evolution of private aviation, highlighting some of the industry's pitfalls and opportunities.
The private air travel industry has reinvented itself several times over to meet travelers' needs, reflect advances in FAA regulations, and adapt to the rise of the internet. These changes have resulted in more options but, by reducing barriers to entry into the market, also have significantly increased risks for buyers.
Speaking to the jet industry’s resilience, Butler notes that the Covid-19 pandemic has spawned a new wave of private air travelers. He writes, “People who may have previously flown first or business class have been turning to private jet travel to lower their risk of contracting COVID-19.” Unfortunately, many are rushing to sign contracts by the end of 2020 to take advantage of the expiring Federal Excise Tax waiver included in the CARES Act. Butler has long cautioned against rushing into year-end jet deals, however, and reminds readers, “Mistakes are costly and often irreversible. It is essential that both new entrants and experienced private flyers do their due diligence before making an investment of this magnitude.”
The full article, Private Jets: Making The Impossible Possible, is available here. To learn more about how we work with our clients’ other trusted advisors and family offices, please contact us.
