Some Owners Have Gripes too (And Sympathy for Crews)

[NJAowner]

Ski & Surf --

1. My last few flights have been great; plane clean; happy and jovial crew; catering was fine (smaller portions than before -- catering for 5 now feeds 8 hungry people; it used to feed 10-12).

2. It is cost and time. I spend only a few minutes per year "maintaining" my share; my costs are also certain (expensive but certain). I do not fly ehough hours to justify my own plane and do not want the bother/risk of chartering it out. I have a few friends who own their own and know of their many headaches. If my "plane" has service/mechanical issues, another one just magically shows up ("it's not my problem").

3. One of the issues I do not speak about much.

Fly safe.

 

[RNObased]

3. How did you get so rich? (so we can follow your lead)

Kind of rude to even ask, don't you think???

 

[netjetwife]

My thoughts, exactly. Look we're agreeing again....

A good rule to follow, I think, is don't post anything you wouldn't say in person. I bet that would solve a lot of the rudeness.

 

[Diesel]

You see RNO she was trying to tell you something.

Of course you would say it face to face.

 

[netjetwife]

I was not doubting RNO's manners, and as he had already quoted S&S, I thought that my hint (for S&S) was obvious enough. That said, I do believe it's a rule of fairness and etiquette that we'd all be better off adopting.
Respectfully,
Netjetwife

 

[old*art]

3. How did you get so rich?
If he is like the wealthy people I know, he only worked half a day - but he picked his hours, 7 to 7, 8 to 8, etc. - and I bet he worked smart !

 

[netjetwife]

Most likely so. In life we have to play the cards we're dealt and we don't all get the same hand. Circumstances and timing can matter greatly and the best advice can't provide those. Making the most of what you have seems to be a common theme of success.

 

[Publishers]

Success is difficult to define because the definition is usually based on someone elses values. To me, success means achieving what you personally wanted to accomplish. I have seen entirely too many who appear successful to the outside for whom their is no inner satisfaction. It has little to do with making the most of anything.

 

[pascualito]

Current customers are lame-ducks as far as profit. The money has been made, and the contract signed. Next please

Hi,

That's not entirely true.

Remember that the owner who wants out will have to pay the remarketing fee (7% up to Falcon 2000 and 4% from Falcon 2000 and larger) and will be offered the so called "fair market value" for his "used" share.

This share will then be sold again, and you can bet that the "fair market value" of the same share will be quite different when the fractional company is selling it than when its buying it.

Also, if the owner is so angry that he wants to leave before the minimum time set in the contract is reached (24 to 36 months depending on aircraft type): there is no out, he is obligated to pay the contractual management fees up to the time the contract will allow him to ask for his guaranteed buy back. Then, see above...

Have fun!!!

 

[pascualito]

Don’t lie (which is what they are doing), don’t tell an owner that their plane will have range to go from TEB-EGE if you are assuming there is light baggage, two pax, and there are perfect conditions for flight, don’t make the customer mad. The more spent on these deals, the more angry an owner will be when he or she doesn’t get what is promised

Hi,

Believe it or not, the majority of people working in sales for the factionals actually have no or very limited previous experience with aircraft. They simply don't know what they are talking about and have to rely on what they are told.

As pointed out in one of the previous posts, the companies make the profit on sales, sales and more sales, so the sales person gets the answer that will suit the prospect and eventually convert him to an owner.

Never mind that the owner will not be happy, the money is made, and if he gets out before the end of the contract, they will make more on the remarketing fee (up to 7%) and on reselling the used share.

That's life in the frax.

Have fun!!!