Some aircraft operators now say that providing transparency has become an essential selling point.

“All our negotiations are focused on getting the best fares for our aircraft owners,” said Bjorn Naberhuis, vice president for business development at Global Jet Concept, adding that their clients can find invoices on its online portal and review cost breakdowns. “The owners and their family offices are getting more and more educated and understand more and more about this market.”

But frustration remains high with the industry. A chief operating officer for a large family office, who didn’t want to be identified discussing private business arrangements, describes jet management companies as “a necessary evil” and recently switched to a new one. The old company gave him information that was disorganized and hard to review, and didn’t try to get him the best pricing, he said.

“It’s an absolutely nontransparent market,” said Kirill Kim, co-founder of My Sky. “You can’t control any of your costs.”

This article was provided by Bloomberg News.

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