Are There Cheaper Private Jets And What Are The Costs Involved?

Private jets in the absolute terms will never be available for cheap. However, some private jets are cheaper than the others are. You can choose the jets according to your budget. However, the price of the jet is not the only cost you are going to incur. It is only the beginning of a series of other costs that are mandatory when you own a private jet.

Types of Jets and Costs

There are various categories of jets with their own capacities and costs. If you need a jet for 4 passengers to travel short distances, mostly within the country for example, or for durations less than 2 - 2.5 hours, you can consider the very light jets. Costing around 3 million dollars, the very light jets can fly up to 1200 miles. For up to 6 passengers and 2000 miles, you can opt for the light jets. These are priced anywhere between 6 - 12 million dollars depending on the make and the facilities within. The mid size and super size jets that can fly up to 3500 miles and accommodate around 9 passengers cost around 20 million dollars. For the bigger corporate companies, long range jets for intercontinental flights are the need for the day. They can fly up to 20 passengers but are slightly expensive costing around 70 million dollars. The most luxurious category is the business airliner manufactured by Airbus and Boeing. These cost around 80 million dollars and are wide bodied to accommodate many passengers.

Cost of lawyers

You will have to hire legal advisers to navigate through the aviation laws. You will need to deal with compliance and insurance laws. There would be tax related requirements that have to be taken care of especially for the more expensive jets. To take care of all this you have to pay the legal adviser.

Maintenance Costs

The operational charges could run into millions of dollars every year and if you need replacements for expensive parts that these costs could easily skyrocket. You will have to pay for the regular inspection of the private jet and the flight mechanics too.

Cost of Jet Management and Insurance

You will have to hire a jet management company which will oversee the hiring of pilot and crew for the jet. You will have to pay for the crew too. You might need to revamp the jet if it is a used one to make changes as per your requirements. The insurance for coverage could be a major cost for the jet. You might need to spend up to half a million dollars for the insurance of the jet. Put together with the other costs, you are looking at more than a million dollars for the management, crew, and insurance itself.

Fuel and Miscellaneous Charges

Fuel charges usually cost up to 1500 hundred dollars for an hour long flight. Catering needs will cost you a few thousand dollars for the beverages and food depending on whom you are travelling with. Various other charges include hangar rent, charges for landing and takeoff at airports, fee for weather forecasts etc. All these, along with the yearly depreciation means that your costs could be millions of dollars every year.