Flying private can offer wealthy families more flexibility and time, whether for important business trips or family vacations. While the benefits are well known, how to approach private jet ownership is often not so clear. Our conversation with a leading expert sheds light on questions that can arise around private aviation ownership.

Craig Ross, the founder and CEO of Aviation Portfolio, LLC, talks with Brittany Menke, Business Development Specialist with UBS Family Office Solutions about which vendors to work with, available ownership options, industry trends and more.

Brittany: What are typical options for flying private?

Craig: There are three major ways to access private jets: 

  • Whole aircraft ownership
  • Fractional ownership
  • One-off charter flight purchases

Brittany: Someone new to flying private might think purchasing their own aircraft makes the most sense, but that might not always be the best option. What is so enticing about whole aircraft ownership, and what should be considered before investing in a private aircraft?

Craig: Whole aircraft ownership represents the ultimate private flying experience. You're traveling on an aircraft with an interior you personally designed, operated by pilots you selected and trust, without blackout dates or restrictions inherent in other programs.

This freedom, however, comes with significant financial risk. Unexpected expenses from unscheduled maintenance, pilot recruitment and retention challenges, and other unforeseen costs can quickly escalate to hundreds of thousands or even millions of dollars beyond your initial budget.

The very flexibility that makes ownership appealing simultaneously introduces a level of risk and liability that isn't suitable for everyone. Before purchasing, carefully weigh these considerations against alternatives that may better align with your actual travel patterns and risk tolerance.

Brittany: When do the economics make sense to own a plane? 

Craig: Flying at least 250 hours annually (not counting empty repositioning segments) without renting it out and assuming the aircraft is still under warranty or has a robust engine/parts program. 

Additionally, there must be hangar space available at your home base airport, which can pose a significant challenge. Owning an aircraft is typically the most expensive way to fly privately; don't let anyone convince you otherwise.

Female businesswoman shaking hands with private jet pilot at airport

Brittany: It seems like more and more fliers are leaning towards chartering these days, and there are numerous companies out there that offer those services. What should fliers know when comparing different charter options?

Craig: Lower frequency and entry-level fliers lean charter, but more experienced and high-volume fliers tend to have programs such as Fractional in their private aviation portfolio.

There are 2,000 charter operators in the US. There are about 11,500 aircraft (including turbo props and single engine aircraft) available for charter. 

Some key areas of due diligence include evaluating financial balance sheet data, reliability data, contract terms and fine print, pilot experience and minimums, upcoming scheduled maintenance, and knowing what extra fees may be added AFTER your flight.

Brittany: So, for someone looking for easy access to flights with less responsibility, they would look to chartering or fractional ownership. When and why would a flier choose fractional ownership over one-off chartering?

Craig: Fractional ownership makes booking flights and enjoying a familiar experience extremely easy. However, it involves a multi-year term, which means a much larger and longer financial commitment compared to chartering a flight.

Brittany: What do private fliers fail to ask before signing contracts and sending money to vendors?

Craig: They should assess the financial stability of the aviation company if they plan to pre-pay any money. The industry operates with significant debt and credit. Thousands of aviation companies have filed for bankruptcy during my 24 years in the industry.

Private aviation clients should ask to see the cybersecurity protocols of their vendors. These vendors are prime targets for hackers, as they have access to passport data, credit card data, and private contact information such as e-mails and phone numbers.

Clients should request documents on pilot training and experience and have an expert translate the information. They should also inquire about who is responsible for maintaining the aircraft and whether that is done in-house or subcontracted.

Brittany: How important are third-party safety ratings?

Craig: Having a rating to reference is better than not having one, as visibility helps reduce illegal charters. Unfortunately, many safety rating agencies are pay-to-play and have been lowering their pilot experience minimums after being pressured by their clients.

Private jet interior

Brittany: What are the biggest challenges facing private aviation?

Craig: Staffing and supply chain shortages top the list. There is a crisis among pilots and maintenance technicians. It isn't easy to find and retain qualified personnel for these roles. Despite increased demand, airport staffing, including customs, has not returned to pre-pandemic levels. Finding parts that used to take a day can now take a month. Some manufacturers have run out of loaner engines. The supply chain for rare minerals for parts that used to come from Ukraine and Russia has been disrupted.

Another challenge comes from private equity firms that have bought up many private terminals, known as FBOs, and now charge tens of thousands of dollars in landing fees on busy travel days. They have also rolled up the maintenance shops, known as MROs, doubling labor costs, which are still increasing. All these costs eventually get passed down to the private flier.

In addition, private travel demand has exploded, and many airports are running out of hangar space, parking space and airspace. These infrastructure limitations cause delays, increased costs, and frustration. Due to these external factors, what used to take 45 minutes to prepare for a flight now often takes a crew 90 minutes. That creates disruption.

Brittany: How big an issue is sustainability in private aviation?

Craig: Clients in the US do not actively raise this issue. However, some aviation companies have taken a leadership role in reducing their environmental impact. They offer programs focused on promoting sustainability, ensuring regulatory compliance, and decreasing their carbon footprint. Sustainability is a major concern for European governments. France recently implementeda “disaster tax” on private jet departures, as of March 1, 2025.

The industry is also focused on advancements in Sustainable Aviation Fuel (SAF). Essentially, SAF is a type of jet fuel produced from sustainable feedstocks, which aims to lower air travel's carbon footprint.

Brittany: What new trends do you see arising in the private aviation sector?

Craig: I am seeing a number of trends. Our clients are getting much younger and flying on larger aircraft. Fractional vendors have seen a resurgence. The number of charter brokers and travel agents has surged to 16,000, yet they are still not required to hold any license or certification. Annual budgets and planning for whole aircraft ownership are not keeping pace with the current environment and its realities. And lastly, we are seeing ‘bleisure’ taking the place of business travel and flying patterns are evolving as a result.

To learn more about UBS Family Office Solutions and the services available to you, please reach out to a UBS Financial Advisor.

Approval Code: 20250815-4749584 Expiration: 8/15/2026

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