The number of hours you fly in a year should help you decide whether you need to buy or rent a private jet. You can consider full ownership if you fly at least 350 to 400 hours per year. In addition to the cost of purchasing a new jet, there are hidden costs, such as, fuel, maintenance, insurance, and staff. Consider these and also the size of jet and flying range you require. If you find that costs are high, you don't have the time to worry about maintenance, or you require jets of different sizes opt for fractional ownership or simply rent a jet.

You can obtain fractional ownership of a jet by purchasing a share from a jet management company. After this, you just need to pay hourly usage rates and a monthly fee. The company can issue a jet for your use if you provide about five hours' notice. Renting a private jet is even easier. Most reputed companies offer a membership program that can enable you to choose different jets depending upon the distance, passengers, and cargo involved in each trip. You can also ask for customized catering and transportation on land. This service can be obtained by members at less than 10 hours' notice. In addition, there are special offers from the company's partners including discounted stays in luxury hotels and gift vouchers for shopping.

Advantages of private jets

- Can be reserved easily, generally with 5 to 10 hours' notice

- Save valuable time because you don't need to wait at ticket or baggage counters. Check in is generally 15 minutes prior to departure. You can fly from a small airport close to your home or office and land at a similar airport closer to your destination. Therefore, you don't need to fly in hours early for a connecting flight

- Travel is flexible because you don't need to plan your trip according to airline schedules and routes; you decide on the itinerary

- Enable you to travel together in a large group, often at rates lower than those of commercial airlines

- Cabins are better than first class cabins and you can avail customized catering and other services

- Ensure privacy, so you can party with friends and family or conduct business deals

So, whether it is a destination wedding you are planning or a professional workshop away from office, consider traveling with your group by a private jet. For a safe trip, do ensure that the jet, yours or rented, complies with all safety requirements.