The Engel & Völkers Group has expanded its service portfolio to include the brokerage of business aircraft and private jets worldwide. The new business division Engel & Völkers Aviation is specialised in aircraft sales and charter. “Engel & Völkers clients are wealthy, with sophisticated demands and expectations. They lead luxury lifestyles and enjoy travelling – both for business and pleasure. We are seeing a growing need for this service amongst our real estate and yachting clients. This opens up significant opportunities for our company and means that we can now offer customers even more services from one single source,” said Christian Völkers, Founder and Co-CEO of Engel & Völkers AG, on the future potential of the new business division.
Customised Air Travel and Consultancy
Engel & Völkers Aviation offers its clients personally tailored charter flights around the world via its website. The portfolio ranges from small propeller aircraft through to large super jets. With access to a pool of around 4,000 planes on its own booking platform, Engel & Völkers Aviation offers clients access to a worldwide charter fleet of private and business aircraft. In addition to aircraft charter for individual trips and aircraft trading, Engel & Völkers Aviation is also brokering business and private aircraft for long-term charter and through fractional ownership schemes. Moreover, the business division provides comprehensive consulting on legal and taxation issues, aircraft management, structured finance as well as risk management and insurance.
Up to 60 Million Dollar for a Long Range Jet
Prices for business aircraft charter and acquisition vary greatly. A short-range turboprop aircraft costs approx. 1.8 million euro and has an hourly charter rate of 850 euro. For a Light Jet, buyers must figure on investing approx. 4 to 7.9 million euro) and with an hourly charter fee between 1,250 to 2,000 euro. When it comes to ‘midsize jets’, prices vary from 10.3 to 15.6 million euros, where such a jet can be chartered for an hourly rate ranging from 2,250 to 5,500 euro per flight hour, transporting ten people to destinations of up to 3,000 to 4,000 kilometres away. The acquisition of a long-range large cabin jet or ‘bizliner’ costs up to 53.5 million euro and up to 15,000 euro per hour on an all-in charter basis.
Increasing Numbers of Business Aircraft and Private Jets in use worldwide
Air travel aside from regular scheduled airlines offers direct and personalised connections, as well as the absolute height of comfort, flexibility and exclusivity. Companies are increasingly using business flight charters or entering into ownership of their own company jets, as this option can sometimes be less costly than booking large teams on scheduled flights. Another key aspect is the more efficient use of managers’ valuable time that comes with private jets. Wealthy holidaymakers and second home owners are also flying more and more by private jet, enabling them to reach exclusive and often exotic holiday destinations by direct flight. The demand for private and business flights amongst affluent clients is correspondingly high.
“Our entry to the aviation market comes at just the right time. Our global network in 39 countries and our uncompromising level of professionalism will help us to enter into this new market very quickly,” Christian Völkers concluded.
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Team Global Corporate Communication