Combs was sentenced to 50 months in prison earlier this year.
Sean “Deedy” Combs pleaded guilty and was sentenced to 50 months in prison earlier this year. The disgraced tycoon faces a fine of 500,000 dollars.
However, just because Diddy, who? worth 400 million dollarsis in jail, that doesn’t mean his assets aren’t making money. Based on the article USA Sunhis luxury Gulfstream G550 plane, called LoveAir, works hard for its owner. The plane, which is operated by a luxury jet charter company, reportedly earned nearly $4 million in eight months. Not bad for a plane whose owner can’t currently use it.
To know more, Jetley connected with staff who shared fascinating insights into how this industry works. If you’re wondering how Diddy’s jet is still living its best life while he isn’t, stay tuned.
Who can list a private jet for charter?
You don’t need a $60 million, 14-seat private jet like Diddy to make an income with your own jet. But you need a plane operated by a licensed air carrier (a Part 135 operator U.S. or equivalent international certification) and you must ensure safety and legal compliance for passenger transportation for hire.
Brokers are intermediaries between your licensed aircraft and passengers. The listing process is usually straightforward, and once verified by the platform, the aircraft will appear as available and soon start generating revenue without any control on your part.
That’s most likely what happened to Diddy’s Gulfstream G550. The plane was listed, and the passengers did not even know who the real owner was. Since it has powerful engines and is one of the most comfortable aircraft in the series, it is no wonder that it was in such high demand. The G550 can travel long distances without needing to refuel. Plus, the interior is spacious, with plush seats and a full-size galley, so passengers arrive well-rested and relaxed.
Who can book a private jet?
Anyone with a budget and the necessary documents. Although it is more expensive than commercial flights, booking a private jet offers many advantages, such as privacy, luxury and the convenience of flying on your own schedule and access to smaller, more convenient airports.
That’s why companies and executives who need to travel on a flexible schedule, visit multiple locations in one day, or hold secret meetings en route can choose a private jet to avoid going through security and waiting for flights.
Of course, business leaders aren’t the only ones who rent private jets. Very wealthy individuals also do this, as well as groups going on vacation or traveling for a special event.
Offers will vary by carrier, but you should be able to choose a plane based on your travel distance, personal preferences, number of passengers and baggage needs. With a larger broker, you have your pick. If you want, you can even rent a Gulfstream G550 and enjoy the full luxury experience it offers.
Private aviation is on the rise
There are approximately 23,000 to 23,500 private jets worldwide, with 60% to 70% based in North America. Every year this the world fleet is growing by several hundred aircraft, and the trends show no sign of slowing down.
Earn passive income from anywhere in the world
In the case of Sean “Diddy” Combs, he has to serve time, but his plane is reportedly out there and still making money. It’s not a situation anyone wants to be in, but it’s proof that investing in this area can pay off.
This story was produced Jetley and revised and distributed Stacker.
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