How to Start an Airline Business
If you are starting an airline business, you will need a comprehensive business plan that will cover the name of your airline, the logo, mission or vision, and the goals/objectives.
Funding can be a hard task but with a good plan, you can easily secure funding. You will need to find a huge land space, airplanes for lease, and hire employees.
Things You Need to Start an Airline Business
If you have lots of money and you’re prepared to face the problems related with labor strife, fuel costs, and the existing competition, then you might succeed with an airline business. This is your chance to earn great revenues but you should also be aware that such revenues can be eaten up immediately by the high maintenance costs especially if you’re not knowledgeable enough. What do you need to start an airline business? You will need several airplanes, certification for FAA air carrier, land lease for the airport, and ticket printers. These are only some of the things that you need and by looking at it, it already involves huge money.
You have several options – charter airline, regional airline, and international airline. The first option is the least costly because you will only be focusing on a local area or destination. Any type of business should begin with a good business plan. The plan should already include the name of your airline, the logo, mission or vision, and the goals/objectives. Aside from this, the plan will include the funding information, business structure, financials, and geographic limits. Since the needed capital is huge, you will need to seek funding and the business plan can help you with this aspect together with a comprehensive sales presentation.
Land, Airplanes, Etc. for Airline Business
Perhaps you’ve already noticed that airports need a large land area. If you don’t own one, the best option would be to lease out land. The land space will be used for the hangar space and the runway. You have to settle the lease agreement before you acquire the aircrafts. The application process of the FAA involves four phases. The application should be submitted months before you get funding. You should submit the assessment for the safety plans, airworthiness, and maintenance routines.
Getting insurance is very important as well. This will cover worker’s compensation, damages, and other disasters. You will need to negotiate for the airplane leases, jet fuel contract, recruit staffs including pilots, attendants, mechanics, and other personnel, and get other essential equipments like ticket printers. Travel with the pilots to work on the flight plans and the all the routes. The flight schedules are required to be submitted to FAA which includes info on the speed, route, altitude, and the airport destination. The plans should be reviewed regularly to come up with a better and competitive flight plan. These things are quite simple to understand but when you’re already in the actual situation, you should be extra careful and you should possess adequate knowledge.
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