MySky is launching what it says is business aviation’s “most advanced and precise budgeting tool”, to give owners, brokers, operators and management companies a picture of the total annual running costs of any aircraft type.

Chris Marich, co-founder, MySky, says: “For too long there has been a knowledge gap for private jet owners about the real cost of aircraft ownership that goes beyond asset acquisition. Budget replaces outdated and legacy databases to provide owners with accurate financial insight, as well as allowing them to analyse costs between any aircraft type, whether new or pre-owned. Furthermore, it supports operators and aircraft management companies with reconciling running costs to owners.”

MySky Budget produces customised aircraft budgets, which are operationally and regionally sensitive and based on real, accurate data.

“With MySky, ownership becomes more predictable and less opaque, allowing our industry to grow and thereby have a positive impact on operators, OEMs and financial institutions,” added Marich.

MySky Budget provides potential buyers with the capability to make informed decisions on ownership and aircraft use by giving a clear and accurate picture of expected costs as well as potential charter revenue. It does this using artificial intelligence and modelling of more than 30m industry data points,

Kirill Kim, CEO and co-founder, MySky, said: “Budget generates simulated flight activity to predict charter operating costs and potential revenue, based on specific parameters. Overlaid with actual running costs and regional data sourced through our cost database, Budget can give buyers and aircraft brokers a very detailed view of how expected charter margin will support a private jet purchase.”