Financial Transparency You Can Trust

Aircraft ownership involves a complex array of expenses — from predictable fixed costs like crew salaries and insurance premiums to variable costs that fluctuate with utilization, market conditions, and unplanned events. Without professional financial management, owners often find themselves navigating a confusing mix of vendor invoices, credit card statements, fuel receipts, and maintenance bills with no clear picture of their true cost of ownership.

Plane Selection eliminates this confusion through a comprehensive financial management system that consolidates all aircraft-related expenses into clear, actionable reports. Every invoice is reviewed, every expense is categorized, and every financial metric is tracked — giving you the same quality of financial intelligence that major corporate flight departments rely on to manage their operations.

Our financial management team includes certified accountants and aviation financial specialists who understand the unique aspects of aircraft accounting: depreciation methodologies, charter revenue recognition, excise tax calculations, international expense handling, and the myriad cost categories specific to aviation operations.

Monthly Financial Statements

Every managed aircraft owner receives a detailed monthly financial package delivered within 15 business days of month-end. This package includes:

Income Statement

A comprehensive profit-and-loss view of your aircraft's operations for the month, including:

• Charter revenue (if applicable), broken down by trip
• Fixed costs: crew salaries, benefits, training, insurance, hangar rent, management fees
• Variable costs: fuel, landing fees, handling charges, catering, crew travel expenses
• Maintenance costs: scheduled maintenance, unscheduled repairs, parts and materials
• Administrative costs: regulatory fees, subscriptions, permits, miscellaneous
• Net operating result: total revenue minus total expenses

Budget vs. Actual Analysis

At the beginning of each year, we prepare a detailed operating budget based on your anticipated utilization, planned maintenance events, and historical cost trends. Each month, the budget-vs-actual report highlights:

• Variance analysis for each major cost category
• Year-to-date budget performance
• Projected annual outcome based on current trends
• Explanation of significant variances (positive or negative)
• Recommended adjustments to improve financial performance

Cost Per Flight Hour Analysis

One of the most important metrics for aircraft owners, cost per flight hour provides a normalized view of your operating expenses. We calculate and track:

• Direct operating cost per hour: Fuel, maintenance reserves, engine program costs, landing fees, and crew variable expenses
• Total operating cost per hour: All costs (fixed and variable) divided by total flight hours
• Trend analysis: Month-over-month and year-over-year cost trends to identify optimization opportunities
• Benchmark comparison: How your costs compare to industry averages for your aircraft type

Flight Activity Summary

A detailed log of all flight activity during the month, including:

• Date, route, and purpose of each flight (owner use, charter, repositioning, maintenance)
• Flight hours, cycles, and fuel consumption
• Direct costs associated with each flight
• Charter revenue generated per trip (if applicable)

Annual Financial Planning

Effective aircraft financial management requires forward-looking planning, not just historical reporting. Our annual financial planning process includes:

Operating Budget Development

Each autumn, we prepare a detailed operating budget for the coming year. This budget is developed collaboratively with each owner and incorporates:

• Anticipated flight hours based on owner travel plans and charter projections
• Planned maintenance events and their estimated costs
• Crew compensation adjustments based on market benchmarking
• Insurance renewal projections
• Fuel price assumptions and hedging considerations
• Known regulatory changes that may affect operating costs
• Capital expenditure requirements (avionics upgrades, interior refurbishment, etc.)

Five-Year Cost Projections

For owners evaluating the long-term economics of ownership versus alternatives (charter, fractional, jet cards), we provide five-year total cost of ownership projections that model different utilization scenarios and market conditions.

Quarterly Reviews

Every quarter, your dedicated account manager conducts a financial review to assess year-to-date performance, discuss upcoming expenses, and identify opportunities for cost optimization. These reviews are collaborative working sessions — not perfunctory reports — designed to ensure your aircraft's financial performance aligns with your expectations.

Owner Portal Access

In addition to monthly report packages, aircraft owners have 24/7 access to financial information through our secure owner portal. The portal provides:

• Real-time expense tracking as invoices are processed
• Historical financial reports (monthly, quarterly, annual) available for download
• Flight activity dashboard with cost breakdowns
• Maintenance cost tracking with upcoming expense projections
• Charter revenue tracking and trip-level detail
• Document storage for invoices, contracts, and tax-related materials

The portal is accessible from any device with a web browser, with bank-level encryption protecting all financial data. Multiple authorized users can be granted access with customizable permission levels — useful for aircraft owned by trusts, corporations, or partnerships.

Vendor Payment Management

Aircraft operations generate a constant stream of vendor invoices — fuel suppliers, FBOs, MROs, parts distributors, insurance companies, regulatory authorities, training providers, and dozens of other service providers. Managing these payments is time-consuming and requires aviation-specific knowledge to verify accuracy. Our vendor management process includes:

• Invoice verification: Every invoice is reviewed for accuracy, appropriate pricing, and contractual compliance before payment
• Payment processing: Timely payment to all vendors, protecting your relationships and ensuring continued service availability
• Dispute resolution: When discrepancies arise, our team negotiates with vendors on your behalf
• Credit management: Maintaining fuel accounts, FBO credit lines, and vendor relationships in good standing
• 1099 and tax reporting: Proper documentation of all payments for tax compliance purposes

Tax Documentation

Aircraft ownership has significant tax implications, and proper documentation is essential to maximize available benefits and ensure compliance. While Plane Selection does not provide tax advice (we recommend working with a qualified aviation tax specialist), we provide all the documentation your tax advisors need:

• Detailed flight logs categorized by trip purpose (business, personal, charter, mixed-use)
• Depreciation schedules and supporting documentation
• Charter revenue and expense detail for income reporting
• Federal excise tax (FET) records for charter operations
• State and local tax documentation as applicable
• International expense records with currency conversion detail
• Entertainment use documentation for disallowance calculations

Our reporting formats are designed to integrate seamlessly with the work of aviation tax specialists, minimizing the accounting preparation time and cost associated with your annual tax filing.