Buying a private jet: what does it really cost?
introduction
Private aviation is a highly developed field, 70% of which is made up of companies and 30% of which is made up of private individuals. As a result, a private jet is often seen as the ultimate in luxury and freedom when it comes to business travel. Buying a private jet means you can travel more quickly internationally and avoid the unexpected. Useful for both business and personal travel, it saves time for passengers. When we talk about the cost of acquiring a private jet, we often only consider the tip of the iceberg. The underlying costs of owning and operating the aircraft need to be considered. Similarly, understanding the true cost of owning a private jet is essential to making an informed decision.
With AEROAFFAIRES, explore the development of the costs associated with the purchase of a private jet.
The cost of buying a private jet
Depending on the manufacturer
When buying a private jet, the manufacturer plays a crucial role in determining the initial price. The most renowned brands offer a range of jets at prices that vary considerably. The reputation, on-board technology and performance of each aircraft are costly assets.
What’s more, there are only a few brands in this sector, and they all face stiff competition: Gulfstream, Bombardier, Dassault and Cessna.
For example, a light jet like the Cessna Citation CJ3 can cost around $8-10 million. At the other end of the spectrum, a large jet such as the Gulfstream G650 can fetch prices in excess of $70 million. Models such as the Bombardier Challenger 350, on the other hand, offer options between $20 and $40 million.
More prestigious manufacturers often justify higher prices by superior performance characteristics and greater reliability. Quality after-sales service promotes a high-end company.
Depending on the options on board
In addition to the brand, the specific options chosen can also significantly influence the initial cost.
Technological options include advanced navigation systems, enhanced safety features and sophisticated communications equipment.
When it comes to the interior, the possibilities for personalisation and entertainment are almost limitless. Buyers can opt for different types of seating and decoration, as well as the addition of parts and infrastructure.
In short, these customisations can easily add several million dollars to the base price of the private jet, and should therefore be factored into the real cost of the purchase.
Depending on the model
Business jets are also classified into different categories. Their size, range and capacity directly influence their acquisition costs. The main categories are :
Designed for short to medium flights, typically 2 to 3 hours, with a seating capacity of 4 to 8 passengers, agility and their ability to use smaller airports
The acquisition cost varies between 5 and 15 million dollars.
Fly longer distances, typically between 4 and 6 hours, carry 8 to 12 passengers, good compromise between range, capacity and operational costs
Purchase prices range from 15 to 30 million dollars.
The largest and most expensive, capable of non-stop intercontinental flights (up to 12-14 flight hours), carrying 12 to 19 passengers, latest technology and comfort
The acquisition cost is between 40 and 75 million dollars.
As a result, other features have a considerable influence on the purchase price of a private jet. Capacity, range and technological equipment play a major role.
The operating costs of a private jet
There are two categories of operational costs associated with running a private jet.
Fixed costs include fixed expenses related to the aircraft, while variable costs include unforeseen or fluctuating expenses. These can be linked directly to the private jet or indirectly via the crew and fuel. The fixed and variable costs of a private jet can vary considerably. Depending on the model of aircraft, its size, capacity, maintenance and other criteria, costs change.
Fixed costs
These are the costs that never change:
- Initial purchase
- Insurance : premiums can be significant and depend on factors such as the value of the aircraft, the pilot’s experience and the safety record.
- Storage and hangar: for the safe storage of the aircraft when not in use
- Planned maintenance: scheduled at specific intervals based on flight hours, flight cycles or time periods. Costs can vary depending on the size and type of jet, but typically include:
– Routine inspections
– Parts replacement
– Software and system updates
- Management fees: if the aircraft is operated by a management company
- Licence and regulatory fees
Variable costs
- Unplanned maintenance: following breakdowns or failures. These costs can be unpredictable and often high, including :
– Emergency repairs
– Downtime
- Fuel: one of the main variable costs. It depends on the distance flown, cruising speed, fuel prices and the aircraft’s fuel efficiency.
- Navigation costs: airport charges, navigation taxes, air traffic control fees, etc.
- Crew costs: salaries and allowances of flight personnel, including pilots, flight attendants and other crew members.
- Operational maintenance costs: specific to each flight, such as spare parts and supplies,
- Catering costs: if meals or catering services are provided to passengers
What is the total cost of ownership of a private jet?
Beyond the initial purchase price, many additional costs accumulate, making these aircraft a substantial investment. So, by breaking down the various costs, whether initial, operational or staff-related, we get an overview of private jet ownership.
In conclusion, the true cost of owning a private jet goes well beyond the simple purchase price. It is essential for potential buyers to anticipate these various expenses in order to make an informed decision. Despite the high costs, the added value in terms of time, comfort and flexibility can justify the investment. To sum up, the key is to assess your needs carefully and choose the right equipment and services. Above all, proactively managing costs to maximise the benefits of owning a private jet is essential.
Book your flight with AEROAFFAIRES!
Experts in private jet charter, AEROAFFAIRES offers a VIP and personalised service at the best price. Whatever aircraft you are looking for, your dedicated flight consultant will provide you with 24/7 assistance up to 2 hours before your flight.
Nearly 95,000 passengers have already travelled with AEROAFFAIRES, on more than 20,000 different private aircraft. Travelling with AEROAFFAIRES also means supporting our Sky CO2 programme, which provides funding for the preservation of ecosystems in France.
Fill in our online quote, or contact us by telephone on +33 (0) 1 44 09 91 82 or by email at charter@aeroaffaires.com.
