All posts tagged 'Fuel Prices'

Managing Aviation Fuel Costs in a Changing Environment

As the cost of aviation fuel continues to rise, owners and operators of general aviation and business aircraft are faced with the unrelenting task of revamping their aviation fuel cost management initiatives - over and over again.

For aircraft owners, the rising prices are nothing new. On the contrary, it’s surely getting old. The ever-increasing operating costs associated with owning or renting an airplane affects businessmen and aviation enthusiasts alike. It affects owners, flight schools and FBOs. And it’s a problem that doesn’t seem to want to go away.

What do you do to keep fuel costs down? What can you do? For many, it seems like the options have been exhausted. Maybe you’ve invested in the most efficient aircraft for your type of operation: Maybe you’ve condensed multiple business trips into a single trip and longer days to save on jet fuel. Maybe you’ve even downsized the fleet.

Below are a few basic tips for saving money on aviation fuel. Perhaps you’ve implemented some or all of them already; maybe not.

According to the National Business Aircraft Association, a survey from an aviation consulting group found that 98% of aircraft owners and operators said fuel cost was a concern, and they responded with a variety of actions: Requesting more direct routes, tankering fuel, flying slower, or flying less often. And seventy-six percent said they had switched FBOs for lower-priced fuel elsewhere. Here are a few other ways to save money on fuel:

Slow Down: Conserving fuel by flying slower can be a good option for those who can allow a little bit of extra time in their travel plans, according to aviation consultant website Conklin & de Decker. “In a business jet, fuel is half to two-thirds of your variable cost. While the whole purpose of the aircraft is to save time, a bit slower speed and careful trip planning can keep your costs down. Reducing aircraft weight and drag can save on aircraft fuel, as well. Keeping the aircraft clean, using minimal takeoff flaps and installing winglets can all help decrease drag and improve efficiency.

Get Equipped for NextGen: The whole purpose of the FAA’s NextGen program is to increase efficiency throughout the air traffic system. Pilots and operators can take advantage of more direct routing by equipping their aircraft for NextGen. Depending on the aircraft and avionics already installed (or not installed) this can be a significant investment, but should save money in the long run.

Fuel Tankering: Some operators have experimented with fuel tinkering, which means buying fuel for cheap (such as at a home airport) and bringing it with you on board the aircraft to avoid high-cost fuel elsewhere. This only works if the added weight to the aircraft doesn’t decrease efficiency to the point where more fuel is used in flight than is saved by tankering, according to Conklin & de Decker.

Fuel Card Discount programs: Obviously shopping around for the best fuel discount program is an easy way to save cash – as long as you aren’t flying out of your way too much to get to an FBO that takes your card. These days, it’s not usually a problem.

Flight Planning: Perhaps the most easily controlled fuel-savings option is careful flight planning. By using resources like Max-Trax, which helps pilots search for the lowest-priced fuel along a route of flight or within a certain radius of an airport, users can easily identify the most efficient fuels stops, including airport and FBO information associated with that particular fuel stop. Over time, the fuel savings from this approach will add up.

As any pilot or operator knows, minimizing fuel costs is a weekly, monthly and yearly struggle. There are a variety of ways for aircraft owners and operators to be efficient, but the fuel industry an unpredictable and fluid one that constantly keeps us on our toes!

Do you have any cost-saving tips or tricks to share with other aircraft owners? Share them with us in the comments section below!

 

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