Hawker 800 SP – A Mid-size Jet
What are the different private jet costs? If you think of flying private you are faced with 3 alternatives:
renting the plane
sharing its use in what is called “private jet fractional ownership”
On this page you will find a guide to choose the best option for your real needs.
If you’re not in the business, figuring out how much the different options for using a private jet cost can be really complicated.
It’s not easy to know all the expenses involved in owning a private jet fully or in fractional ownership.
Even the idea that buying a private jet is the most expensive option is denied by long-term calculations.
In general, it can be said that the choice between the various options should not be based on costs which in many cases, in the end, are more or less the same if you use the aircraft regularly.
Obviously the option of renting a private jet is logical for those who fly very occasionally and do not want to bear all the costs of maintenance, parking, repairs, etc..
And of course, you have to understand that what you are facing is a crucial decision: you have to be careful to reconcile the purchase of a jet with your present and especially future budget.
This is whether you are buying a jet for professional or personal reasons.
Private Jet Costs: Chartering
The world of jet hire is profoundly changed compared to the distant and even recent past. New digital technologies have made this option more popular among businessmen, but not only.
Generally speaking, chartering a plane works in a similar way to booking a commercial flight: look for a flight online or on a mobile application, go to the airport and fly to your destination.
What changes are the overall travel time which is drastically reduced with a private flight.
You won’t waste time queuing at check-in, going through security checks, retrieving your luggage.
What makes the difference with hiring a private plane is the fact that on departure you only have to arrive at the airport and get on the plane, while on return, once landed, you can leave the airport in no time.
To achieve this, it is not absolutely essential to have your own jet: you just need to find a broker that allows you to do thebooking of your private flight. And nowadays it’s very easy to do this thanks to the internet.
Quickly & easily!
So what are the pros and cons of renting you private jet?
To list the pros is very simple:
No initial capital needed
No maintenance cost (fly and forget the plane…)
You pay only the hours when you’re flying
No other obligations
The cons, viceversa, are:
Lack of control over the jet and the crew
You need some time for searching the right flight
Private Jet Costs: Fractional Jet Ownership
This option to fly privately is the most recent, it seems to be born in 1986 with NetJets. The purpose of this method was to create a middle way between chartering and owning an aircraft.
This shared property works a bit like the timeshare property of a holiday home. You own a percentage of the property that allows you to use it for a corresponding period of time. In the case of private planes this is counted in flight hours at your disposal.
With this private flight option you will have the advantage of reducing other expenses because you will share them with other co-owners.
This solution combines the pros of the other 2, i.e. the speed of booking typical of rented flights with the availability of a owned aircraft.
So what are the advantages/disadvantages of fractional ownership of a jet?
Think first of the several pros:
No expense for repositioning the aircraft
Quick booking – one contact is enough
Multiple starting points – you can find a private jet near the location where you are currently
You can get the private jet that best that best suits your needs, for example a plane for only two people or a larger plane for a group of business men.
Simultaneous departures: this option is very useful for companies that can easily schedule
A limited investment in case of low utilisation
And what are the disadvantages? Only one:
- The costs are very high in case of frequent use (ideal utilization should be 50 hours per year…)
As you can see when dealing with fractional ownership pros and cons, the pros are the winners!
Private Jet Costs: Full Jet Ownership
The idea of owning a private jet became established with the invention of jet planes after World War II, although the first private jets were already available in the 1930s.
The purchase of a private jet makes sense, of course, if you fly very frequently throughout the year.
This private flight solution may be desirable both for personal use and for business reasons (especially by companies that need to send agents around the world).
Here, in conclusion, are the pros of complete possession of a private plane:
Full control, 100%.
Low life cycle costs when the jet flies often
Unfortunately there are various negative aspects to consider:
you will have one plane for all your needs
You won’t be able to schedule departures at the same time
There will be expenses to reposition the plane (10-20%).
The aircraft will be unusable when under maintenance
Your private jet costs will be very high in case of under-use
Purchasing a private jet can be very demanding because the amount to be disbursed at the beginning will be at least one million dollars.
Of course, for new and long range planes, the cost will be much higher.
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