As Recessionary Fears Rise, Corporations Look for Alternatives to Their Traditional Flight Department

A recent survey suggests that the majority of CEOs are bracing for an economic downturn in 2023. With the economy still showing signs of weakness, cutting expenses has become a top priority for many organizations.

In addition to recessionary concerns, a recent study by PwC illuminates another concern among the C-Suite, “Nearly 2,000 CEOs recently polled by accounting and consulting firm PwC say their company won’t be ‘economically viable’ within the next decade, without changing its current path.” The study cites fears about technology, the economy, labor shortages, and regulatory issues as top concerns among CEOs.

With these fears in mind, one of the first priorities for many organizations is a renewed commitment to financial sustainability, and a commitment to reduce spending. And when budget cuts hit, one of the first areas of impact is often business travel spending. But, until recently, that came with the sacrifice of freedom and flexibility. 

Modern organizations want their own corporate aviation department, but they don’t want the headache or the expense.

While most corporations prefer the freedom private aviation ownership affords them, very few want to deal with the hassle of ownership, and with economic concerns being what they are; many corporations simply can’t justify the expense.

Put simply: modern organizations want all the perks of owning a private jet, without having to worry about hiring pilots, putting another asset on their balance sheet, or paying for maintenance. Historically, these corporations would turn to a flight charter program as a solution, but that also comes with its own set of built in challenges.

“With charter, even with a floating fleet provider, you are never guaranteed the exact same aircraft each time you fly, and you are certainly not guaranteed the same crew,” explains Vincent Kavanagh, the Executive Vice-President and Head of Sales for Four Corners Aviation.

Fortunately, for organizations wanting to reduce the cost and headache of aviation ownership, without sacrificing flexibility, another option is on the table.

Freedom by Four Corners Aviation is a new model that offers the perks of owning an aircraft, without owning the headache. No maintenance and no crew? Check! No depreciation, taxes or insurance? Check! No hassle or headaches? Done!

Kavanagh explains the unique model, “The Freedom Program releases the capital tied up in the aircraft or fleet purchase; allowing companies to re-invest their capital back into their business. We purchase the aircraft/fleet at fair market value and take over the management, the crew, and all flight operations. This removes the focus and often ‘hassles’ in owning and running an aircraft and crew. We deal with all the ‘surprises’ so that companies do not have to. We guarantee availability of the aircraft and crew, with fixed monthly costs and occupied hourly rates when flown. The Freedom Program also removes the asset from the company’s balance sheet.”