The time of readily available and affordable used business aircraft, which resulted from the financial crisis, is nearing an end. Aircraft owners have been refurbishing their aircraft in order to extend their aircraft's lifetime and retain the value of their aircraft, while new aircraft manufacturers are capitalizing on this market by introducing new models. However, new aircraft costs are still high.
Although some may consider private aircraft ownership to be a vanity asset, private aircraft ownership is a necessity for many businesses.
In short, it's about more than setting a date. These four factors can help you know if it's the right time to step aside.