Traveling in a private jet is one of the ultimate signs of affluence and luxury. It provides several qualities for travelers, including privacy, saving time, and avoiding crowds and long queues.
Recently the demand for private jet travel has been noticeably rising. Private flights became more accessible due to the emergence of new flying options that enabled more people to afford private flights, such as the services we provide at iJET Charter like private jet charter, empty leg, and flight pooling.
However, the most confusing questions for every luxury traveler are: should I purchase a private jet or charter one? How much do both choices cost? In this blog, we will answer both questions and introduce you to private jets categories.
Private Jets Categories
Private jets are categorized based on sizes because the size of an aircraft is the main determinant of its price, capacity, and fueling needs:
- Very light jets: with a capacity of 4-6 passengers, such as Cessna Citation Mustang and Embraer Phenom 100.
- Light jets: with a capacity of 5-6 passengers, such as Bombardier Learjet 40 XR and Embraer Phenom 300.
- Midsize jets: with a capacity of 5-10 passengers, such as Cessna Citation XLS and Gulfstream 250
- Super midsize jets: with a capacity of 8-10 passengers, such as Dassault Falcon 2000S and Hawker Beechcraft 4000.
- Large and heavy jets: with a capacity of 10-18 passengers, such as Gulfstream G500, Boeing, and Airbus Business Jets.
How Much Does It Cost to Charter a Private Jet?
Private jet charter fees are usually paid per hour, making the prices variable depending on a few factors, like:
- Length of flight
- Size of plane
- Number of passengers
Taking all these factors into consideration, private jets charter may cost between $1000-$10000 per hour. If you are having a tour around several cities and countries, which requires the jet to be around for more than one flight, you should expect to pay more than $100,000 per week.
If you need a more specific price, not just an average range, consult iJET Charter team, you provide your flight information and we calculate how much your flight will exactly cost.
How Much Does It Cost to Purchase a Private Jet?
Do you want a private jet for sale? Private jet prices are rated according to the size, the distance it can fly, the number of passengers it can hold, and whether it’s new or pre-owned. Thus, a new private jet price ranges between $3 million and $90 million while secondhand jets are cheaper, but they also cost millions of dollars. However, the jet price is only one part of the total costs of owning a private jet, as there are other expenses you need to consider:
- The aircraft maintenance and repairs costs are related to the aircraft size and capacity, these costs range accordingly between $500,000 and $4 million per year.
- Jet Fueling: the size of the fuel tank depends on the size of the jet and how far it was made to fly, making the fuel annual cost between $400,000 to $900,000.
- The salaries of a skilled pilot and flight crew are estimated of about $200,000 per year, according to aviation voice.
- When you own a private jet charter, you will probably need to cooperate with a flight operation company to handle plan your trip, the route of your flight, the required overflights and landing permits, and other documents you may need to fly. However, if you charter a jet from iJET Charter, we take care of all these formalities and procedures.
What Factors to Consider When Choosing the Perfect Jet for You?
Whether you decide to purchase a jet or charter one, the market offers countless options, and every aircraft will seem great, but how do you choose the aircraft that would serve you the best? Here are a few points to think of:
The Number of Travelers
Is it just you and a companion? Or you and the whole family? It could also be your business team and partners. So, the first thing to set is the anticipated number of people who frequently fly with you.
Duration Between Flights
The type of jets chosen by people who travel every few months is different from the type chosen by frequent travelers who travel every weekend. Which kind of traveler are you?
Flying from one city to another within your country is a lot different from traveling long distances across several countries and continents. Specify your travel locations before choosing the right aircraft.
Jet Purchase Vs. Charter
Buying a private jet is a huge decision that should be made wisely. Two factors should exist to make the purchasing deal a smart financial investment:
- Being an HNWI who can handle the previously mentioned expenses of (jet price, and long-term permanent expenses of maintenance and fueling) without having a drop in the overall budget.
- Having the money doesn’t mean it’s wise to spend it carelessly. It’s totally wrong to buy a jet just because you can, you should buy it when you need it. Who needs a private jet of their own? The people who spend more than 250-300 hours per year flying. In case you don’t hit this target, chartering is the best traveling choice for you.
It is also convenient to buy a private jet if you are a large business owner and your employees must travel on a daily or weekly basis. Another great aspect of owning a private jet is to invest in the private jets charter business by putting your jet out for rental booking.
Contact iJET Charter so we can advise you on the best flight option according to your preferences and budget. Choose among private jet charter, empty leg, or flight pooling by visiting our website: www.iJETCharter.com
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