5 Real-Life Lessons About Owning an Aviation Business

Owning a business is a difficult thing no matter what industry you want to get into. If you’re going to get into the aviation industry, expect it to be as challenging as it is potentially rewarding. There is no “easy” way to move forward with this industry and become successful. In fact, some of the toughest and most enduring lessons that we’ve learned in life hold true for running an aviation business.

No man (or business) is an island.

You are going to have to work with others. You could be the operating carrier, but someone else is going to fill your plane with people. You may have to partner with people, and you may have to share the income and profits. Do not be afraid of this, and make sure that you build a good team of people to work with you. As a leader, you’re going to have to delegate a lot, because if you take a lot on for your own work, you will not be able to gain momentum moving forward. Look, life can be tough, but it gets tougher when you are putting a lot of elements on the line to have a successful flight operation.

Don’t assume that you can get through the competition without being friendly. You will need strong alliances in the air, and on land. That means that you are going to have departments of your company that is going to be working with others, and you have to comply with their expectations and garner a great deal of success with them, not against them. You win when they win, and that means you have to be flexible about what you’re working with. Your flexibility is the key to success in opportunities.

You can’t have everything your way.

Global bookings are great, but you are going to find that you may run into a variety of restrictions. You may find that it seems easy enough to get into this solution, but there are going to be hurdles to moving forward with this option. You can’t just throw out fares and sales like you would imagine. In fact, you’ll need to change, adapt, and focus on the bigger picture. Expect restrictions, and expect a slow moving resource to comply with overall.

Bend, don’t break.

One of the most crucial aspects of running any business is being adaptable. Maximizing the flights that you have, filling the cabins with passengers, and moving forward with maximum profit requires you to work with various airplanes. Your flexibility is going to need to be extreme at times, and that means that you will need to work with several different types of planes, for different reasons. Whether you’re going to upgrade or you’re going to downgrade, make sure that your pilots, your staff, and everyone are ready to work with the flight elements, and do so safely. If you’re not flexible at all, you’re going to find that there are a variety of issues that arise with down gauge and up gauge options. Just don’t settle, and keep flexibility throughout.
You’ll also have to be on top of the necessary changes you need to make regarding pricing. The different costs involved in operating an aircraft business – such as fuel, maintenance, and the different airport fees — can change dramatically over time, so make sure you’re prepared to make the necessary changes to your pricing scheme and marketing in order to cope.

Multitasking is a must.

As you move forward, you’ll have to multitask a lot. You will not be able to work with just “one” job role. You’re going to need to look into the things that business owners have to deal with. For instance, you’ll need to worry about equipment, salaries, rental elements, accounting, and so much more. If you can’t do this, you need to hire someone to help, and then you need to manage their work, and things can become very difficult to manage. Every business has several components to it, and you need to work harder than most to make it all stand tall. The first year of running this business will require a great deal of work, and you’ll be tested throughout a variety of skills, and jobs. The learning curve is tough, but it’s not an impossible task. Flexibility again comes to play here.

Time is essentially your biggest enemy when it comes to owning an airline business. Make sure that you take your time in the preliminary stages, and learn as much as you can about every position. Otherwise, you’re not going to gain any steam, and profits will start to drop.

It can cost a lot to be able to gain a lot.

Some call this overhead, but it’s all a matter of costs. Dealing with the costs is a difficult thing. You are going to find that there are a lot of different elements to consider here. Overhead can sink your company fast, and you could end up losing out on a lot of different things. You need to make sure that you keep tabs on everything that you’re spending money on, including premium space, furniture, and much more.

If you don’t have a lot of money, then don’t stretch your budget out, plan for various costs and work with less. Select your partners carefully as you move forward, and make sure that you focus on the right elements of costs overall. If you do this right, you will turn a profit fast. Overhead is an important aspect of business, simple as that.