- Private jet travel is becoming more accessible to the average person, with companies offering more reasonable prices for private jet charters.
- Owning a private jet is expensive, with prices ranging from $2.8 million to over $100 million for new aircraft. Maintenance, insurance, and landing fees are additional costs to consider.
- Fractional ownership, leasing, and chartering are alternatives to owning a private jet, allowing individuals to share costs, pay monthly fees, and customize their travel needs.
Today, we will look at the various ways you can fly on a private jet, from the most expensive options to pretty reasonable ones. Long regarded as a form of travel that only celebrities and the very wealthy could afford, today, the idea of flying by private jet is within reach for most people.
In recent years, a number of companies have entered the market offering private jet charters at realistic prices. With this in mind, we will look at the options available, starting with the most expensive and finishing with the most affordable.
Owning your own private jet
Depending on the make and model, a private jet can cost anywhere from $2.8 million to over $100 million for a new aircraft. Meanwhile, a second-hand aircraft can be picked up for a bargain price. If you are qualified to fly the aircraft, you will not need to hire a pilot, but you still need to find an airport to hangar the plane, provide maintenance, and pay for jet fuel insurance and landing fees at airports.
The market's least expensive new private jet is the single-engine Williams FJ33 turbofan-powered Cirrus Vision SF50. Costing $2.8 million, the Duluth, Minnesota-built aircraft can accommodate up to six people. The Cirrus Vision SF50 has a range of 690 miles and a top speed of 351 mph.
At the other end of the spectrum is the Gulfstream G650ER, owned by wealthy people like Elon Musk and Jeff Bezos. The Gulfstream G650ER, depending upon its configuration, can carry as many as 18 passengers. With a range of 8,360 miles and a top speed of Mach 0.925, the Gulfstream G650ER is a global plane. If you want to purchase one new one, it will cost you back $75 million.
Fractional private jet ownership
Similar to how people own a boat or plane with others so that the costs can be spread around. Fractional private jet owners share the cost and use of the aircraft. Generally, each fractional owner is allocated a specific number of hours to use the aircraft annually.
Leasing a private jet
In the same way airlines lease aircraft, a private jet can also be leased. Leasing a private jet is less expensive than owning it because you do not have to buy the plane outright but pay a monthly fee like you would when leasing a car. Like a car lease, a private jet lease limits the number of flight hours you can do a year, with prices set accordingly. Leasing a plane also allows you to sell your lease hours to others or purchase more flight hours should you need them.
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Chartering a private jet
If you only require a private jet now and again, you can charter a plane for as long as needed. Private jet charter companies do all the work for you and have their private facilities or shared facilities at airports worldwide. If you are still determining what aircraft best suits your needs, use a private jet charter broker rather than contact all the charter companies individually.
Tell the private jet broker where you want to go and how many passengers and dates and times; they will match you with the perfect aircraft for your trip. Within the United States, you can expect to pay between $3,200 to $6,000 per hour for a midsize jet and between $5,600 and $11,000 an hour for a sizable long-range aircraft.
A private jet card is a prepaid product that allows cardholders to purchase agreed-upon fixed hourly rates for various aircraft. The price of the hours is based on the size of the jet and occupied flight time. Jet cards are one of the best options for people traveling on business or leisure for less than 50 hours per year. Unlike chartering a private jet, you already know the cost, whereas the prices will vary with a private jet charter.