Hamilton Jet
Thread Starter
Hamilton Jet
Formula 1 star buys 500mph private jet to keep his long-distance romance with Nicole alive... and it even has personalised 'number plate'
(Oh dear!)
Lewis Hamilton buys a £20m plane keep long-distance romance alive with Nicole Scherzinger | Mail Online
(Oh dear!)
Lewis Hamilton buys a £20m plane keep long-distance romance alive with Nicole Scherzinger | Mail Online
As someone not entirely used to buying my own plane, do these sort of people really 'buy' their own jets? Or are the fractional or just rented by the hour? Do they really fork out 20 million whatevers ( + operating costs)just to occassionally whip over to LA for a bit of leg-over?
Can someone enlighten?
Can someone enlighten?
Join Date: Aug 2007
Location: Groland
Posts: 63
Likes: 0
Received 0 Likes
on
0 Posts
An aircraft like that would be financed by a bank, and the owner pays the monthly finance costs plus operating costs; and as it's on an AOC it will probably be chartered out when he isn't using it, to cross-subsidise the costs a little bit.
The Tax & finance arrangements on these aircraft are complex and you will rarely see the name of the private owner on the register - it is more likely to see a holding company which can operate as an umbrella for charter work and also the owner can then also pay an hourly rate to the holding company which is efficient for tax purposes (i.e. treating it as a business expense).
I can't imagine anyone has ever actually profited from such arrangements as far as chartering out on an AOC is concerned though - it may just go some way to offsetting a little of the cost and make the holding company seem more viable to HMRC
I can't imagine anyone has ever actually profited from such arrangements as far as chartering out on an AOC is concerned though - it may just go some way to offsetting a little of the cost and make the holding company seem more viable to HMRC
Join Date: Jan 2008
Location: MAN
Posts: 769
Likes: 0
Received 0 Likes
on
0 Posts
GC that was my point, not usually registered to the owner or operator. C of R
would indicate that it belongs to TAG UK not a holding company?
Join Date: Mar 2011
Location: Milano
Age: 53
Posts: 460
Likes: 0
Received 0 Likes
on
0 Posts
Not even egomaniacal Hollywood stars actually register their aircraft in their own name. Besides the possible tax advantages, who would want to be held personally liable in case of an accident? 
Much better to have one layer (or two, or even three...) between you and any possible lawsuit.
Ciao,
Dg800
Much better to have one layer (or two, or even three...) between you and any possible lawsuit.Ciao,
Dg800
Last edited by Dg800; 4th Feb 2013 at 14:10.
Join Date: Feb 2000
Location: gashbag
Age: 52
Posts: 558
Likes: 0
Received 0 Likes
on
0 Posts
Again, my point.Been a while since i have flown a g tail, but even then it was always the holding co name on the C of R. tax rules change regularly of course!
Last edited by PURPLE PITOT; 4th Feb 2013 at 13:53.
Join Date: Jan 2008
Location: MAN
Posts: 769
Likes: 0
Received 0 Likes
on
0 Posts
Am not sure what the brief was, but on the face of it he seems to have bought the wrong airplane for the kind of trips he seems to be doing. Ah well, a consultant made a pretty penny selling him something he wanted to sell instead of something the client needed.
Join Date: Jan 2008
Location: Timbuktu
Posts: 962
Likes: 0
Received 0 Likes
on
0 Posts
cldrvr has it spot on.
1. TAG client bails on delivery slot (or perhaps Bombardier flogged it to them cheap)
2. Hamilton, while TBNB, understandably not knowledgeable about bizjets
3. Jazzy paint scheme combined with persuasive selling techniques
4. Charge exorbitant hourly cost
5. ?????????
6. PROFIT!
Will probably get flamed for saying this (not entirely undeservedly) but VistaJet might actually be an option for this guy.... at least he can choose the appropriate bombardier product for his mission (learjet for european races, global for squeeze in LA, etc).
Otherwise, as has already been pointed out, a 7X would have fit his profile quite well.
1. TAG client bails on delivery slot (or perhaps Bombardier flogged it to them cheap)
2. Hamilton, while TBNB, understandably not knowledgeable about bizjets
3. Jazzy paint scheme combined with persuasive selling techniques
4. Charge exorbitant hourly cost
5. ?????????
6. PROFIT!
Will probably get flamed for saying this (not entirely undeservedly) but VistaJet might actually be an option for this guy.... at least he can choose the appropriate bombardier product for his mission (learjet for european races, global for squeeze in LA, etc).
Otherwise, as has already been pointed out, a 7X would have fit his profile quite well.
Apparently a GLEX wasn't in the budget!
Join Date: Aug 2002
Location: Up north
Posts: 1,657
Likes: 0
Received 0 Likes
on
0 Posts
Ah well, a consultant made a pretty penny selling him something he wanted to sell instead of something the client needed.