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!)

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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?

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.

Registered owner is TAG aviation uk at FAB.

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

Would have guessed that somebody so acute about perf. Would definetly bought something elses that a challenger !!!

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?

C of R has nothing to do with the owner, that is in the name of the operating company to ease billing, VAT etc. form 1577 will be the first clue of the ultimate owner and lien holder if there is one.

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

Tag used to own a few of their own aircraft but I don't think they do any more.

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!

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.

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.

Now that makes more sense!

Can you get a 7X for £20M

D and F :8

Well if he wants to go to LA:ugh: Apparently a GLEX wasn't in the budget!

Fairly safe bet he didn't pay anywhere close to list. Ambassadorial deals for F1 drivers are an OEM dream.

So much for his Honda Jet.