Private jets are really wonderful to experience, believe me… but the expense involved in acquiring one can be quite pricey. As for private jet cost, depending upon the make, model and size, to buy one outright, you may be looking at spending between 5 and 65 million dollars. Not too terrible, if you can afford it. Now, while owning a private jet can seem to be the most convenient form of private jet access, it may also be the most costly. And by expensive, I’m not merely talking about money here. Permit me to explain…
With sole ownership, you are of course fully responsible for the initial purchase price, licensing, regular registration fees, hangar fees, airport fees, pilot for hire, regulations, flight logging data, fuel costs, gas cost logging, maintenance and the list goes on (and on) – and remember, the majority of these items can represent a constant cost of a pretty penny indeed, even if the airplane never leaves the hangar. Owning a private jet might be a dream of yours, but if you’re a mite jittery about taking on the massive private jet cost in exchange for a little luxury, it could be pretty darned difficult to write out this very first check. Even when you’ve found private jets for sale at an auction, and picked up one for only a tiny few million, the continuing private jet cost is the very same, and without reduction.
But with private jets, sale prices can vary greatly. One of the things to consider when you buy a private jet is the factor of flying jet and range size, which can vary private jet cost considerably. For instance, if you decided to buy a light jet, perhaps a Learjet for example, which can average at about $5 million or so to buy, the airplane would hold between six to eight passengers, with approximately a 1,500 mile flight range without refueling. You will need to precisely understand what particular realm your needs live in, in order to decide on the ideal make and model that’s best for you. Charter a couple of short flights to get the feel for each significant type. You might find moderate jets are more to your liking than light jets, like a Hawker 800, for example.
Aircraft fractional ownership of a personal jet, sharing it with a single co-investor, can provide increased travel flexibility at half of the cost of sole ownership, however many aviation experts warn that aviation partnerships eventually sour. Aircraft fractional ownership can begin at 1/16 of a share (that’s 16 owners of just one plane), which may be as low as approximately about $400,000, for say, a Hawker for instance. That generally allows for approximately 50 hours of flying time. This would equate to be about $8,000.00 per hour of flight – on a cost per hour of flight basis, that is not much cheaper than a charter jet service in any respect. But aircraft fractional ownership hasn’t been simple – why? Have you ever experienced the frustrations of time-sharing a condo? Yeah, that is why.
Also, you might be a 1/16 shareholder, but those who have 1/8 or 1/4 shares are those whose needs are fulfilled, and only if they are not using it, then you can. Where on the totem pole will you be? All that having been said, fractional ownership can be economical, and is ideal for those companies or individuals who fly about 100-150 busy hours annually or more. Obviously, chartering a few flights to feel out which model suits you the best, does have the obvious benefits before contemplating buying one, whether it’s an entire or fractional purchase you’re leading to.
Perhaps the biggest problem is that while you may think that aircraft sole ownership or even aircraft fractional ownership may seem to be less pricey (at least as far as the initial purchasing cost) than a charter jet service, the simple fact is that even if you have one, solely or in part, you will still wind up using a charter jet service several times in addition to it all anyway. Why is this so? Quite often, your jet simply might not be available. It may be undergoing maintenance, it may be being used by another (perhaps”greater”) shareholder, it may be due to any number of a large collection of things, and additional (and perhaps most cripplingly), it might simply not suit your specific needs at that time.
Alright, let’s say you own a light jet, but you want to transport 12 passengers – are you going to make two trips? That would be somewhat odd, to say the least. For a lot of reasons, even if you shell out a few million for a private jet, or a couple of hundred-thousand for 1/16 of (and only 50 hours of) a private jet, you just will nevertheless invariably shell out more to a charter jet service, and on more than 1 occasion. Why compound your flight expense?
Instead of all of the hassle, all the maintenance, the down time, the countless regulations and expenses, and the more-than-occasional unavailability of aircraft ownership or aircraft fractional ownership, with leasing on top of it all, it seems to make far more sense simply to rely on jet charter services alone. This holds true if you’re an individual who would fly less than 150 hours per year, and even companies which would use even more flight time. Heck, truth be told, it all ends up written off as a business expense when all is said and done.
Fundamentally, chartering represents less labour, less hassle and much less restrictions – this last factor being the most important here. No restrictions are what we are searching for in the entire private jet experience in the first place, right? When you charter a private jet, you can select from a fleet of models, sizes and types, and you can book a flight anytime you want, even within a tiny couple of hours, and hit over 5,000 airports instead of the under 500 airports of commercial airlines.
Private jet charter still allows you to fly in privacy and security, avoid delays at airports needing to remove shoes, unpack laptop computers and other personal things. If you use jet charter services, you are able to fly the precise aircraft you desire. Let’s say you only want to fly alone or with 5-7 passengers, on a 2 hour flight… chartering a turboprop or a very light jet would cost a lot less for this single flight than a Hawker 800 of your own in that same instance, or perhaps a 1/16 of one.
Can you see what I mean? It simply makes more sense, and makes for much less hassle. Most of all, you only pay for a single plane – the one you need at this time, and whatever kind or model you desire. After all, you’ve got access to an entire fleet (a very prestigious idea, by the way), always at your disposal, and you do not share them with anyone except those you wish to bring with you on your travels.
Myself, I’m greedy – I do not want to need to manage, or wait for, any other shareholders’ permission(s) to fly my damned jet. I want the entire thing, and I want it now. I Would like a Learjet now and a Hawker tomorrow. I need 100% accessibility, right when I need it, and that’s always now. Consider it… isn’t that what flying by private jet is truly all about?
There’s only plenty of good that can be said for a charter jet service, as they provide so much more. So many services thrown in on top of top-class flight, otherwise unrealized by people who don’t charter. It’s an excellent idea even in the event that you wish to obtain a jet outright, to try out at least one version of each size jet, maybe even a little Cessna turboprop. Try out a few short charter flights to be able to get the feel for what you need and want from a private jet. You’ll also need to get used to using a charter jet service, because even should you buy a jet, you will still need them eventually. They really come through when you are in a bind, and can be a real godsend.