Since the COVID-19 pandemic, many people have changed how they travel for safety reasons. Due to this, private jets are more in-demand than ever before.
But buying a private jet isn’t so straightforward. If you’re considering a private jet purchase, you may have asked the question, “how much do private jets cost?”
There is a lot more that goes into the cost than you might realize, so you’ll need to keep reading this guide to learn everything you need to know.
How Much Do Private Jets Cost?
When it comes to private jet prices, you have a lot to consider. First, you’ll need to look at the size of different jets.
The most common options available include:
Very light jets like Cessnas are the smallest option. These planes hold between 4 to 7 people and can fly up to three hours at a time. The average cost for these jets is between $1 million and $8 million.
Light jets are slightly bigger than very light jets but still reasonably compact. They can carry up to eight people and typically have a bathroom. You can expect to pay anywhere from $900,000 to $6 million.
Midsize business jets have larger cabins and more storage space. They can fly for about five hours and hold up to 10 passengers. The prices range from $10 million to $20 million.
Heavy business jets have a lot of space and usually have fully equipped kitchens and pull-out table tops. They also hold up to 10 passengers. You’ll pay a high price for heavy business jets, as they range from $27 million to $40 million.
Remember that it’s difficult to pinpoint a specific cost since it depends on the model and if you’re buying it new or used. Brand new jet costs can exceed over $600 million, which doesn’t include customization with decor, furniture, avionics, or engines.
Ongoing Costs to Consider
You’ll also need to think about ongoing costs. Remember, the purchase price of a private jet is only the beginning.
Fuel costs can significantly add up, depending on how often you plan to fly and how much fuel capacity your jet has. You’ll also need to consider ongoing maintenance costs and unexpected expenses like mechanical issues or cracked windshields.
Other costs to consider include:
- Airplane hanger storage fees
- Crew costs
Chartering a Private Jet
It’s also a good idea to consider how often you’ll use a private jet. If you’re flying less than 150 hours a year, it may be better to consider a private jet charter instead.
When you charter a jet, you don’t need to worry about maintenance, crew, or insurance fees. You’ll also pay a fraction of what it costs to buy a jet, as you can typically charter a jet for less than $5,000 an hour for short flights.
There are also options for private jet card memberships. These memberships offer access to chartering different private jets throughout the month. Some companies charge an hourly rate, while others charge you a fixed monthly rate. The best thing about private jet card memberships is that you’re guaranteed flights when you need them.
You can check out the Ocean Reef Club for private jet chartering and aircraft partnership leasing options.
Buying a Private Jet
Now that you know how much private jets cost, you’ll be better prepared to find the best private jet for your needs.
Remember, a private jet is a huge investment that could cost you more than you bargained for, so make sure to research your options before committing.
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