By Scott Gault, Executive Vice President, Hillsborough County Market President, The Bank of Tampa
Once considered a symbol of luxury, private aviation has transformed into an effective business tool to improve productivity. Companies that invest in private aircraft save time, increase efficiencies, expand their reach and benefit from increased security and given today’s technology, these aircraft are outfitted to be an office in the sky. Flying private offers comfort, privacy, flexibility and convenience that you won’t find anywhere else.
Benefits of Private Aircraft for Businesses
Think about how much time you spend waiting around when flying commercial. The use of private aircraft allows you to bypass lengthy check-in processes, security lines and eliminates flight connections. You can significantly reduce your travel time and the stress associated with commercial air travel. Private air travel can also help minimize time in the car traveling to and from the airport as private planes typically depart from smaller airports, offering access to more destinations. Additionally, you can plan private travel around your personal schedule, allowing you to maximize productivity and spend your time where it really matters.
Companies are not only using private aircraft for executive travel but are also incorporating them into their supply chain and logistics operations to transport supplies and materials. The flexibility and speed of private aircraft reduces operational downtime and improves overall efficiency.
One of the most important reasons businesses prefer private travel is the added security. Private planes allow employees to conduct business in a secure environment. Employees can openly discuss proprietary information without the risk of leaking information pertaining to key business deals, mergers and acquisitions, the recruitment of top talent and other sensitive business meetings.
As the business aviation sector continues to grow, and innovate, the industry is poised to continue to make a significant impact in the business world. At The Bank of Tampa, our team of aviation financing experts specializes in corporate and personal aircraft financing for both fixed-winged and rotary aircraft. We offer financing for new and used purchases and aircraft refinancing. We understand the intricacies of aviation financing and can assist you through each aspect of purchasing an aircraft, including coordination with the Federal Aviation Administration. If you are interested in learning more about private aviation financing options, please contact me at [email protected].
About Scott Gault
Scott serves as the Hillsborough Market President at The Bank of Tampa. In his role, he is responsible for the overall leadership and business development efforts for the bank’s Hillsborough market. Additionally, he has enterprise responsibility over the bank’s Small Business Administration (SBA) and Middle Market banking teams. Scott offers more than 30 years of experience in the financial services industry, much of which was focused, specifically, on aviation financing. Scott serves on the University of South Florida’s Muma College of Business Executive Advisory Council. Additionally, he serves on the board of directors for St. Anthony’s Hospital Foundation, WEDU PBS and the Tampa Bay Chamber of Commerce. Scott holds a master’s in business administration with a focus in international finance from Florida Metropolitan University. Scott earned his undergraduate degree from Fairleigh Dickinson University, in Teaneck, New Jersey. He is also a GE Capital trained Six Sigma Green Belt.
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