This past year was a ‘Bear’ for many of us in the Business Aviation Industry, and it is a common-held feeling amongst most of us that the exit of 2011 is a very welcome event indeed. All hopes and aspirations are now locked onto 2012 like some kind of tractor beam, all of us willing that this year will be “the one!”
With so much emotion wrapped up in this collective hope, I felt that it would not be inappropriate for me to organize the hopes that we the majority wish that all Corporate Executive Business Aircraft Owners will do better this year by adopting the following top-six list of New Year’s Resolutions as their own; so here goes:
6. To keep track of your business use of your aircraft and keep a running total of how much money was saved; how much money was made; what business opportunities resulted from; what trips would have been impossible...all because you used your own aircraft to make these trips.
5. Task your Director of Operation/Chief Pilot/Director of Maintenance as well as Contract with an outside audit company to confirm and report on all of the following:
How does your aircraft compare, from a safety systems standpoint, to a brand new aircraft?
What is the current market and taxable value of your aircraft?
Are you properly and adequately insured?
Is the current aircraft that you own suitable for your current flight profile, and how will it stack up against your future anticipated usage and missions?
Are your flight activities being properly documented for all applicable taxable events and reimbursements?
Are your aircraft maintenance and inspection events being accomplished in accordance with the maintenance requirements set by the manufacturer, on-time, within a reasonable budget, and are records being properly entered and protected?
Are you subscribed to the right service and warranty programs commensurate with your flight activities?
Do you have an effective and cost conscious fuel purchase procedure in place that is being adhered to?
Are your pilots recurrency training adequately being updated to ensure that all known threats are covered both in the classroom and the simulator?
4. To determine how well the interface between you, your office and your flight department work to ensure that your wishes and needs as well as the logistical issues of your aviation executives are communicated both efficiently and freely shared between each applicable person that is ‘need to know?’
3. To meet with your crew (if applicable) and to ask them about how they are incorporating the principles of the Safety Management System (SMS) into all of your business operations.
2. To review your past three years of how you have historically used your business aircraft during that period of time: to what destinations, why you used the aircraft, who else you allowed to use your aircraft; what other trips were made on business but the aircraft was not used; all with an eye to see where and how the aircraft could be better utilized to improve the overall bottom line of everything within your world.
1. To tell everyone that you come into contact with both in a business meeting situation (unless strategically it does make sense to do so), and politically, how much you value your business aircraft, and how significant its availability and use is to the bottom line of your business.
Now please go out do the right thing for both yourself and the million, or so of us who support you.