Ventura Air Services, a premiere boutique jet operator in the Eastern United States, has introduced its revolutionary Owner Lease program for Cessna Citation Excel/XLS and Challenger 604/605 owners. The Company’s Owner Lease Program for managed aircraft allows owners to leverage the value, reduce risk and continue to enjoy financial and other benefits associated with their planes. The program absorbs the fixed costs associated with ownership, such as pilots, insurance and standard maintenance.
The Charter Aviation Industry has rebounded quickly from the COVID-19 pandemic and the demand for private flights has grown rapidly. Significant numbers of new charter air travelers have come to prefer private flights as commercial airlines continue to struggle. More aircraft are needed to meet the demand and Ventura Air Services is providing a first-of-its-kind program for new and existing owners of Cessna Citation Excel/XLS and Challengers. This program allows them to enjoy both a financial and tax benefit as well as remove risk and operational expenses.
“At Ventura it is very clear to us that there are many Cessna Citation and Challenger owners who are sitting on underperforming assets. These aircraft are expensive to operate and maintain. For many, their planes often go unused for long periods of time. In addition, the cost of hiring pilots and paying expensive insurance often limits owners from getting the greatest value from their aircraft. Our approach is simple: we take on the risk and costs. All that is required of owners is to pay the standard expenses they incur for their own flights,” said Nick Tarascio, CEO of Ventura Air Services.
The Ventura team has spent years analyzing different aircraft management models. The company’s program was developed to create a mutually beneficial approach, reduce risk and allow owners the opportunity to maximize benefits and return on investment.
Today, most management agreements allow charter companies to experience virtually zero risk and at the same time, they receive the majority of the upside. This occurs despite the fact that they drive the majority of aircraft use. Ventura’s program makes it feasible for those who only need to fly 50 to 100 hours per year to access and enjoy the benefits of aircraft ownership. Additionally, reduced costs and revenue sharing gives owners the opportunity to potentially level up to a larger class of aircraft with no added risk exposure.
“As we see it, the methods used for aircraft management in the industry today are inequitable. Current models predominantly benefit charter companies. Our program uniquely creates a true partnership and both parties obtain multiple benefits, making this a truly win-win arrangement,” added Tarascio.
Ventura’s program also offers a consistent financial return for each hour an owner’s aircraft is used. Revenues that come from operating leased jets can be significant, allowing customers in many situations to make a profit. All insurance costs are also covered, eliminating a significant expense attached with aircraft ownership.
Experienced flight crews are provided by Ventura for Owner Lease Program participants for their safety and satisfaction. As a respected 135 charter operator, lease program owners have access to the company’s professional service team who offer prompt and personalized service for the scheduling of trips and coordinating travel details.
For new buyers, this program makes available significant tax benefits of aircraft ownership allowing, in most cases 100% depreciation, of the purchase price in the first year.
To learn more about Ventura Air Services Owner Lease Program and the company visit www.venturajet.com.
