Managing Aviation Fuel Costs for Aircraft Businesses
As aviation fuel prices rise — either because of inflation or contributing global factors — owners of general aviation and business aircraft face the never-ending task of adjusting their fuel costs to keep clients happy without losing out on profits. Given the situation, it seems like a problem that won’t go away soon.
There are, however, ways for aircraft businesses to minimize profit losses brought about by the increasing gas price and even save money. In a survey conducted by the National Business Aircraft Association, almost 98 percent of aircraft businesses stated fuel expenses were a concern — and they responded with these actions to cut costs.
Slow Down and Lighten the Plane
According to Aviation consultant website Conklin & de Decker, conserving fuel by flying slower is a good option, especially for those who can accommodate the additional time on their travel plans. In addition to slowing the plane’s flight, aircraft owners can save more fuel by lessening the aircraft weight and drag. To decrease drag and increase flying efficiency, owners should do their best to keep the aircraft clean.
Install the Right Flight Management App
A Fixed Base Operator (FBO) management app, according to My Flight Solutions, can help FBOs and airline owners stay on top of their business’ needs. Equipping aircraft with the right management app can, in fact, increase efficiency throughout the air traffic system by letting operators and pilots take advantage of more direct routing. Better yet, more direct routes would eventually lead to lower fuel consumption.
Utilize Fuel Tankering
Some operators opt for tankering fuel, a process of purchasing fuel for cheap and transporting it on board the aircraft to avoid having to pay for expensive fuel elsewhere. This process would only work, however, if the added weight to the aircraft does not compromise efficiency to the point where fuel consumption is greater than the fuel saved by tankering.
These suggestions help reduce fuel expenses and lessen the risk of negatively affecting business revenue. Minimizing fuel costs will always be a constant struggle for airline business owners. Thus, business aircraft owners should always apply these cost-cutting fuel measures and keep track of the current fuel prices.