Do We Still Value Our Time When We Travel?

Why CFOs and CEOs Should Give a Second Thought to Travel Budgets

Why was Concorde loved by so many?

Most would say it was the wonder of aviation — a masterpiece of design and engineering. Yet, onboard, the legroom wasn’t much better than that of an economy seat.

Ask those fortunate enough to have flown on Concorde, however, and they’ll likely tell you the greatest luxury was time not wasted in some airport lounge. In some cases, passengers landed at their destination earlier than the time they departed — the closest we’ve ever come to a real-life time machine.

Today, the focus of commercial aviation has shifted dramatically toward cost efficiency rather than time efficiency. As a result, total travel times for many routes are now almost double what was achievable in 2003 with Concorde.

This raises an important question:

Do we still truly value our time when we travel, or have we become more focused on the bottom line of the ticket price?

The Travel Industry: A Window into Corporate Health

The travel industry has long been a fascinating market to observe. It often mirrors the health and wealth of individual companies — and indeed, entire economies.

When organisations tighten budgets, travel is often the first area targeted: restricting Business Class travel, imposing travel bans, or booking inconvenient flight times to save costs. Conversely, when business confidence returns and growth resumes, these restrictions tend to ease — signalling optimism and expansion.

Corporate Travel as a Motivational Tool

Beyond logistics and budgets, travel can also serve as a powerful motivational and cultural lever.

Providing employees with tangible recognition — such as Business or First Class upgrades — reinforces appreciation and strengthens engagement with corporate goals. On the other hand, downgrading to economy (coach) can have the opposite effect, eroding morale and diminishing the sense of value employees feel within the organisation.

Private Charter Flights in the Corporate World

Over the past two decades, private jet charter has evolved — from a perceived luxury to a strategic business tool for improving time efficiency.

A CEO who might otherwise spend several days away from the office conducting site visits, fundraising, or client meetings can now achieve the same outcomes in a fraction of the time.

Contrary to popular belief, most of these flights aren’t champagne-fueled indulgences aboard enormous jets. Many corporate charters are operated with executive turboprops or light jets, chosen specifically for their ability to land at smaller, less congested airports — saving the one resource money can’t buy: time.

That said, responsible use of private aviation is critical. Flying a long-range jet for a short route, or subscribing to an ill-suited membership program, can quickly erode any efficiency gains. At Jet Members, we pride ourselves on helping clients strike the right balance — using the right aircraft for the right mission.

Setting Travel Budgets: The Good, the Bad, and the Practical

One of the most common questions in private aviation remains:

“How much will (X) hours of flying cost me?”

There are three main approaches:

Fixed Hourly Rate

A guaranteed hourly cost multiplied by the estimated hours to be flown. While predictable, this option usually comes with a premium, making the rate higher than actual market averages.

Trip-by-Trip Pricing

Quotes are provided per trip, closer to the actual travel dates. This usually yields lower costs but lacks certainty — which can make budget approvals more difficult.

Capped Hourly Rate (Hybrid Model)

This combines the best of both worlds: a maximum hourly rate is set for budgeting purposes (like Option 1), but clients can still benefit from lower real-time market rates (like Option 2). Any savings achieved remain with the client, to be used for upgrades, deposits, or additional flying.

Protect yourself from peak pricing

Final Thoughts

Time has always been the ultimate luxury — something Concorde understood better than any aircraft before or since.

As leaders, the challenge is to recognise that time efficiency can be just as valuable — if not more — than cost efficiency. When travel decisions are made with both in balance, companies not only save money but also preserve the most precious resource of all: the time and energy of their people.