There are plenty of ways to reduce the cost of corporate travel expenses, including negotiating corporate rates with hotel chains and airlines, varying per diems by location, and even limiting travel altogether by utilizing video messaging technology such as Skype, or a video conferencing platform such as GoToMeeting. Although video conferencing platforms have improved over the past decade and continue to offer more and more innovative features, nothing beats meeting a client face to face when you’re trying to close a deal or further a relationship.
Assuming that it is not feasible to rely solely on digital technology, and that your employees are going to continue to travel, the next step is to start finding more creative ways to save money on all of your travel expenses. One cost-cutting technique you probably have not considered may come as a surprise. When was the last time you booked a private jet? Many people, when they think of private jets, think of luxury and extravagance (which is accurate), but have you ever considered the fact that traveling by private jet may be less expensive than flying commercial? Regardless of how counter-intuitive this may seem, the fact is that private jets may make more financial sense if you are flying with a large group.
One thing to consider is the length of your trip. As with commercial airlines, the shorter the trip, the less expensive the private jet. Also, keep in mind that there is another individual or company out there that has already booked a flight either before or after yours. You may be doing the private jet company a service by paying for a trip that they would have to take regardless, just to make their next connection.
Considering the impact that traveling by private jet could have on your relationship with potential investors, clients or partners (not to mention your employees), even when flying with a smaller group, the expense may be more of an investment than you may have originally considered when you look at it from a long-term perspective.
There are plenty of online resources to assist you in calculating the prices of private jets. Before you book that next corporate trip, take the time to compare prices. You may be surprised by what you find. And you may make a few a new friends in sales and accounting.