SINGAPORE : As they say in the business world, time is money.
But how can a businessman or company help themselves create more time to boost their bottom line?
It may sound extravagant but owning a private corporate jet could just be the solution to making more money.
A private airplane conjures up images of a jetset lifestyle of the rich and famous.
But increasingly, it's also seen as a useful business tool and resource.
Bombardier, the world's third largest aerospace manufacturer (behind Airbus and Boeing) has seen a 40% growth in the private jet business in the last year alone with 15 orders from Asia. Its main market in this region is Australia.
And the company says forward orders are strong as the general business sentiment is positive due to a healthy world economy.
Landing access in countries is also less of an issue these days.
"Even in China there are many more airports that we can go to without restrictions, whereas 5 years ago it was a battle to get access. So those things are going away," said David Dixon, regional VP (Asia Pacific) of Bombardier.
The company says they are not even competing directly with airlines because their clientele is different.
The cost of maintaining a luxury like this can cost at least US$1.5 million a year, depending on the type of aircraft. And the top of the line jet costs some US$50 million.
"It's not a rich man's toy and it's not an expensive extravagance; it's a working vehicle and I think people are now understanding the benefits. I can give you one good example of someone in Australia who says he actually gets 28 days more in the office by having his own airplane," said Dixon.
"28 days for a multi-billion company - that's one more month in a 12-month year, so it's a time generator," he added.
Bombardier declined to name who their clients are but they have sold some jets in Singapore. |
