The web site LifeTips offers a series of tips for prospective private jet buyers on their web site.

For example, there is a list of “other” fees and costs to consider, such as periodic mandated overhauls, storage, insurance, licensing, take-off/landing fees, pilot pay, and fuel.

The site recommends consulting with an experienced pilot-owner or flight mechanic on financial costs, and even suggests contacting a nearby active duty or Reserve Air Force base to speak with an officer with private aircraft experience.

Another factor to consider, according to Blue Star Jets, is the age of the aircraft, and not just for mileage. For example, corrosion can be a problem for a plane even with low flying hours.

Once you know what model(s) you’re interested in, the site advises researching history, reputation, and aging issues (such as “weep hole cracks”). For example, the article mentions the DC-10 once had a bad reputation due to an equipment issue that caused cargo doors to fall off during takeoff.

The site also includes information comparing buying vs. leasing, and buying vs. charter air travel, including questions to ask the company representative.

Blue Star Jets, a sponsor of the article, offers a private jet broker service. Private jet brokers work with a network of contacts throughout the airline industry, offer multiple purchasing options, and employ experts in private aircraft sales and management. These brokers also have expertise in locating private aircraft for purchase, finding competitive rates, and evaluating the tax impact.

NetJets, the private aviation company, has partnered with exclusive restaurants to deliver food to customer’s planes, according to Jay Rayner in The Guardian.

“If you happen to be flying from London you can now request Chinese food in-flight from the Michelin-starred Hakkasan. If the flight is leaving Paris, you can get dishes from the three-Michelin-starred Arpege. And if it’s Moscow, you can get serious sushi from Sumosan.”

FT McCarthy’s article in The Economist provides a few details about what it’s like to fly in an executive jet.

“Being able to park directly outside the swooping modern building that serves as the passenger terminal at Farnborough Airport is the first sign that this journey is going to be different. The airfield, less than an hour’s drive west of London, is home to Britain’s biannual airshow. But it has also become a thriving executive-jet centre.

In the airy interior a famous French actor is having coffee with three companions before returning to Paris. No one asks for autographs here. A dapper German businessman arrives on an inbound flight and is met by his chauffeur. Security for your outgoing flight is discreet. The pilot introduces himself and explains the route. The weather forecast is good; there will be no delays. Within minutes of strapping yourself into one of the leather seats in the narrow fuselage, your Learjet is zipping along the runway and up into the air.”

The article also mentions that the average number of passengers on corporate jets in Europe is only 2.

Interestingly, Wal-Mart, a supermarket chain with 6,500 stores worldwide and a company known for watching costs, is one of the largest users of executive aircraft.

An article by Coco Masters in Time Online provides some interesting information about the business jet market.

For example:

• There are 2 corporate aircraft in the sky for every airline aircraft
• The FAA forecasts at least 9,000 new corporate jets will be delivered over the next decade
• There are 18,000 corporate airplanes, up from 1,800 in 1970
• Some estimates say up to 20,000 new pilots for both corporate and commercial jets are needed globally each year

Consequently, flight training for business jet pilots is also a growing business. CAE, an avaiation simulation and training company, provides four training centers around the world devoted exclusively to training business jet pilots. One facility opened last week in New Jersey has six flight simulators for training on a wide range of models, including the Falcon 7X. Due to high demand, CAE will add six more simulators to that center.

“At $15 million a pop, these simulators don’t come cheap. Approved by the FAA (and sometimes also by the Joint Aviation Authorities in Europe), each simulator has digitized versions of the 85 largest airports in the world, runs on the equivalent processing power of 500 Xboxes and does everything the same model aircraft would do. Being able to safely navigate through low visibility and a ceiling of 800 ft or to land smoothly after a fire in the left wing’s engine prepares pilots for their first experience piloting an actual aircraft, which could be loaded with passengers.”

The article also mentions the current debate over who should pay for the air traffic system. According to the FAA, commercial airlines and their passengers pay about 95% of the taxes, but only account for 73% of the costs.

The latest issue of AERO is out. For those of you unfamiliar with AERO, it’s a magazine that (as Boeing states) “is published quarterly by Boeing Commercial Airplanes and is distributed at no cost to operators of Boeing commercial airplanes. AERO provides operators with supplemental technical information to promote continuous safety and efficiency in their daily fleet operations.”

In this issue the main stories are:

Fuel Conservation Strategies
Appropriate use of the cost index feature of the flight management computer can significantly reduce airline (and BBJ) operating costs.

The New FAA ETOPS Rule
This recently enacted regulatory update brings significant changes to the requirements for extended operations.

Media Investigation Process
Recent enhancements to the maintenance Error Decision Aid reflect the latest thinking about maintenance event investigations.

Preventing Wheel/Brake-Area Fires
Most wheel and brake-area fires can be avoided by following simple cleaning procedures.

It seems everyone agrees that the aging air traffic control system in the U.S. needs to be upgraded (the U.S. is the only developed country that hasn’t upgraded from a 1950s-era analog system to a digital one). You can read the grim details in an article by Angie C. Marek for U.S. News & World Report.

The debate starts when options for funding a new system are considered. Currently, most of the air traffic control costs are paid from the Airport and Airway Trust Fund, which is in turn funded by a 7.5% ticket tax on airlines. However, that funding is less dependable now due to the popularity of low-cost carriers.

Proposals range from 200% higher fuel taxes, higher plane licensing fees, and a charge on all planes landing at the largest airports, to a $25 fee on commercial jets and the 10% of general aviation planes using the air traffic system (including high-performance corporate jets).

A new problem for the business jet market is a looming shortage of capacity, especially in the larger jet segment, according to an article in Aviation Week & Space Technology by Robert Wall and Michael A. Taverna.

“’It’s easier to get airplanes than completion slots,’ notes Walter Herdt, senior vice president for sales and marketing at Lufthansa Technik. Negotiations are already ongoing for 2012 and 2013 slots.”

Jeffrey Lowe, director of sales for Hong Kong’s BAA Jet Management, says they have customers interested in several new aircraft, but can’t commit because of the delivery-slot problem. For example, in one case, the earliest available slots for the planes are in 2011, but BAA Jet Management is negotiating for a 2009 position.

Almost all manufacturers are experiencing huge order backlogs for their top-of-the-line aircraft. A buyer of a Boeing 787-8/9 VIP plane would have to wait until August 2015.

As a result, second-hand aircraft prices are going up.

“Steve Hill, president of Boeing Business Jets, points out that since the beginning of the program, 24 BBJs have been resold at an average of 110% of the purchase price. During the past year, the average increased to 120%, and two BBJs for sale … at the European Business Aviation Convention & Exhibition (Ebace) were priced at around 140% of the original.”

The business jet market is also experiencing other potential hurdles, including finding quality employees.

Demand is at record levels, according to Kevin Done of the Financial Times (subscription required), due to strong economic growth, rising corporate profits, and high executive bonuses (particularly in the financial sector).

In addition, the majority of corporate jets are still located in North America, but reportedly up to 60% of new orders are coming from markets other than the US and Canada.

“Demand is growing strongly in Europe, in particular in Russia, and in the Middle East and Asia. Deliveries of private jets rose by 18 percent worldwide last year – exceeding the previous peak of 2001…”

NetJets Europe, the leading operator of business jets in Europe, increased the number of flights by 33% last year (to more than 62,000). NetJets also plans to take delivery of 24 more aircraft, bringing their total fleet to more than 135.

The growth in customers for private and leisure use is coming from jet card members.

“Virtual closet” companies maintain clothing and other possessions for customers, shipping them to their destination, and then returning them to storage when the trip is over, according to a New York Times article by Jane L. Levere.

Garde Robe, of New York, started in 2001, but the other companies are relatively new. FlyLite is based in Reston, VA, and has storage sites in Boston and New York as well. CarryOn has a storage site in Gainesville, GA. The companies photograph the customer’s items and then display them in an online password-protected “closet”.

“William Behn, a single father who lives with his three children in Atlanta and works for a staffing and accounting consultancy, said he used FlyLite when he travels to Washington on business.

‘As a single dad, I’ve got a million things going on,’ he said. ‘I get a huge sense of relief and comfort knowing that at both ends of a trip I don’t have to pack and unpack.’

The article also describes options for shipping luggage ahead when traveling on business.

Hong Kong real estate tycoon Joesph Lau was revealed as one of the buyers of a 787 VIP plane.

According to a Reuters article, Lau is:

• One of Asia’s richest entrepreneurs with a net worth of about $2.1 billion (according to Forbes)
• Holds stakes in Hong Kong property developer Chinese Estates Holding Ltd. and department store owner Lifestyle International Holdings Ltd.
• One of the world’s leading art buyers, setting a record last year when he purchased Andy Warhol’s portrait of Chinese leader Mao Zedong for $17.4 million.
• A red wine collector, reportedly owning more than 10,000 bottles