Three Strategies for Reducing Aircraft Operating Costs

Are you looking for ways to reduce the operating costs of your business aircraft? Check out these tips from Honeywell Aerospace…

AvBuyer  |  21st October 2020
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If you are considering ways in which to bring the operating costs of your business aircraft down, you have come to the right place. Honeywell Aerospace provides its three top tips...

The benefits of Business Aviation are well documented. Companies that fly business aircraft are more competitive and successful because their employees can get to more places in less time, fly to locations the airlines don’t, stay productive and connected throughout their flight and much more.

According to Air Charter Service, flying in a business jet can cost $4,000 or more per flying hour, depending on the size, type and age of the aircraft.

That’s just for variable costs like fuel and maintenance. So, it’s no wonder that flight departments, charter companies, and other operators are always on the lookout for ways to reduce operating costs.

Following are three ways to reduce aircraft operating costs…

1. Manage Your Aircraft Fuel Costs

According to AvBuyer, fuel accounts for the lion’s share – 50 percent or more – of hourly operating costs, so even a small reduction in fuel consumption can have an enormous impact on an operator’s overall fuel budget, particularly for multi-aircraft fleets.

Start with the flight plan and make fuel-efficient choices.

The best flight-planning software lets you balance between fuel savings and flight time, so you’re flying the most fuel-efficient route without impacting your arrival time too much.

Slowing down can save 5-25 percent of fuel consumption per hour, depending on other factors, without a significant impact on your schedule.

Finally, remember fuel is heavy! Software is available to help choose the right fuel load.

2. Keep Up with Preventive Maintenance

Your aircraft will run better and cost less if it’s well maintained by your in-house maintenance team or trusted maintenance, repair, and overhaul (MRO) partner.

Preventive maintenance will also help you avoid the sticker shock associated with an unplanned maintenance event, which includes the cost of downtime and passenger inconvenience. Preventive maintenance also is required to keep any warranties in force, so don’t forget to keep good records.

The bottom line is that a reliable preventive maintenance program reduces downtime, improves operational efficiency, reduces the risk of expensive reactive maintenance, extends the life of your airplane, and enables you to deliver on your mission.

New and emerging predictive and prescriptive maintenance capabilities are making maintenance programs more effective by leveraging smart machines and the Industrial Internet of Things to diagnose potential problems and alert maintenance teams before they can cause significant disruption.

3. Consider a Maintenance Service Plan

Aftermarket maintenance service plans are a cost-effective solution to maintenance management for most operators. Honeywell’s Maintenance Service Plan (MSP) makes it easy and affordable to control the unexpected, manage the annual maintenance budget and keep aircraft where they belong – in the sky – by minimizing downtime and streamlining the repair process.

Honeywell’s signature MSP is similar to the extended warranties available on a home, car, or major appliance. Business aircraft operators choose the coverage that best meets their needs, pay an annual usage-based fee and stop worrying about the devastating impact an unplanned equipment failure can have on their operations and maintenance budget.

Honeywell offers a multi-dimensional MSP that incorporates coverage for avionics, engines and auxiliary power units and mechanical equipment, with flexible choices and affordable options tailored to your specific needs.

Your aircraft is a big investment – one worth protecting. MSP is the perfect solution for fixed-wing and commercial helicopter operators who want to keep their aircraft flying and control their annual maintenance budget with the industry’s premier fixed-price protection plan.

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