It may seem like a luxurious venture to charter an airplane, but with the right calculations, it can be financially beneficial for your company or yourself. Xpress One Aviation specializes in making chartering an airplane accessible and cost-effective. But just how much yearly income do you need to make so that the savings from chartering an airplane becomes financially beneficial? Let’s break it down.
The Cost of Charted Flights vs Commercial Airlines
The average roundtrip flight on a commercial airline costs around $400 – $500 per person, not including taxes and fees. In comparison, the cost of booking a chartered flight starts at around $1,500 depending on the destination and size of the aircraft. However, when you factor in the number of passengers, the costs even out. For example, if you were taking a family of four on vacation cross-country, it would cost about $4,000 for four tickets on a commercial airline compared to approximately $2,000 for one ticket on a chartered flight. That’s half the price!
Another way that chartering a plane can save money is by avoiding costly delays or cancellations associated with commercial airlines. This is especially true if you are managing time-sensitive projects or have multiple trips scheduled in one month as you will avoid any potential delays caused by inclement weather or other unexpected events.
Tax Benefits & Savings
Chartering an airplane can also offer significant tax benefits and savings depending on your business structure and type of operation. Generally speaking, businesses are able to deduct up to 100% of their air travel expenses such as fuel costs and maintenance fees as long as they are directly related to your business operations. This means that if you are planning multiple trips per month related to your business goals then it would be more financially beneficial to use a chartered flight rather than book separate tickets with commercial airlines. Additionally, there are no additional taxes or fees associated with chartering an airplane which can further reduce costs in comparison to commercial flights which often come with hefty taxes and surcharges that can increase prices significantly over time.
Conclusion: So how much yearly income do you need to make so that savings from chartering an airplane become financially beneficial? It really depends on how frequently you fly domestically each year and what kind of tax deductions apply for your type of business structure or organization. Ultimately though, when done correctly and strategically planned out, booking a chartered flight could be far more cost effective than regularly flying commercially throughout the year regardless of your annual income level. At Xpress One Aviation we specialize in helping people find affordable private air charters so don’t hesitate to contact us today if you’re interested in learning more!