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All You Need to know Before Buying a Private Jet

by Admin on August 24, 2022

Owning a private jet is a luxury not afforded to many. But to those who want to experience the undeniable grandeur of flying privately and benefit from the convenience of having a jet at their disposal, buying a private jet might seem like a good idea.

Buying a jet is different from purchasing a car, real estate or any other type of assets. You are entering a very specific, highly complex and regulated area. Thus, educating yourself and seeking guidance is essential to make it a pleasant experience rather than a stressful and disappointing one.

Buying a private jet for personal or company use is a big commitment, but with plenty of benefits. Private flying opens up an easy way to travel. Itineraries can be flexible, and flights are more comfortable and productive. You will get the most out of a private jet.

As future aircraft owner, you would need to start identifying the type of aircraft that suits your needs. You will have to consider why do you need or want a jet, your future destinations, number of cabin seats you would like to have, how many hours your aircraft will fly annually as well as the budget for both purchase of the aircraft and its operation. You also need to consider whether to buy a brand-new aircraft or a used one. Typically, the market price depreciation is about 5 to 10% per year, so a 5 to 10-year-old aircraft costs about 40-50% of the price of a new one, which could be a great value. On the other hand, maintenance costs of a used aircraft could be higher, and you will miss on manufacturer’s warranties and other benefits of a brand-new jet.

iJET Flight support offers a comprehensive suite of premium trip planning services is guaranteed to make your international trip a success as it provides comprehensive and customized flight planning and trip support services to aircraft operators, worldwide for a memorable flight

When to Start Thinking of Buying a Private Jet?

Purchasing a jet is a big investment and decision. A good reference to consider is if you are spending 300 hours or more a year in the air, a private jet is a smart investment. If you are flying less, consider chartering until your needs require a private jet.

Prior to purchase, you should conduct a cost analysis to determine if flying commercially, renting, or buying is the most financially savvy decision for you personally. This is a major financial investment costing on average from three million to ninety million just for purchase. This excludes all on-going maintenance costs and operational expenses.

Private jets start at an average of $3 million although you can find options for under $2 million. Prices can soar to $90 million and beyond depending on the size and customization. Buying a pre-owned private jet can cut down costs while still providing the benefits of flying privately.

 

We secure all types of flight permits service through  iJET Flight Support, for private jet on short-notice, overflight and landing permits, and diplomatic flight permits service for any destination/location worldwide, with a highly qualified team taking care of all requirements and documentation in collaboration with the Civil Aviation Authority CAA of the destination country, making sure all flights run on schedule.

 

Top 6 Benefits of Buying a Private Jet

There are many advantages to private jet; The ability to travel on your own schedule, access to thousands of airports, the privacy of your own aircraft, eliminating long airport lines, and significant time savings all contribute to the overall value of utilizing private aircraft.

  • Comfort and convenience: There’s a distinctly different experience of flying privately when you own the aircraft. When you own a private jet, it becomes an extension of your home. Traveling becomes unspeakably smoother and more comfortable.

 

  • Safety: A private jet eliminates the need to travel through commercial airports and sit at the gate and aboard the plane, shoulder-to-shoulder with strangers.

with private jets you can depart from smaller airports, you can board your plane and take off without having to deal with the frustration of the TSA.

Traveling in your own jet nearly eliminates the risk becoming infected with a contagious disease or virus

 

  • Customization: If you want to paint your jet gold, you have the freedom to do so. If you want to expand the galley or reconfigure the cabin, the interior is yours to make a statement. Want to bring your pets on board? The sky’s the limit when you buy a private jet.
  • Privacy: Just as your own personal jet affords you added safety and security, you will also enjoy a private ride, where you can conduct business or relax, uninterrupted. Handle confidential matters for your company, take a nap, enjoy customized refreshments, and never wait in line for the lavatory when you own the jet you’re flying on. You’ll never risk someone seeing top-secret information as you work on your laptop, and you can hold conference calls to meet with your colleagues.
  • Consistency of Experience: Flying privately lets you customize your experience. You can choose the drinks, snacks, and meals served aboard the plane, because you own it. When you know the names of your crew and can depend on them when your schedule demands, the payoff is priceless. Being able to fly with the same trusted pilots offers an experience not found in any other type of private aviation program.
  • Time: Flying privately, however, allows you to quickly get seated in your jet and take off to your destination without the adding time spent waiting and walking. Instead of getting to the airport an hour before your flight, it’s possible that you arrive moments before departure. After landing, simply deplane without waiting for the people ahead of you to remove their carry-on luggage from the overhead bins.

 

iJET flight support can offer competitive hotel booking rates and the best airport hotel deals as it offers global business hotel accommodation arrangements for all flights. iJET hotel booking services are extended to both passengers and crew, making us available for all flights. Competitive hotel rates can be found through iJET online hotel booking services.

 

Obstacles of Buying a Private Jet:

  • Cost of Investment and Operation: Depending on whether an aircraft is new or used, private jets can range in price from $3 million to $90 million. A pre-owned Embraer Phenom 300 (a popular Light Jet) would cost somewhere between $5 million and $7 million to purchase. However, the purchase price does not include the cost of ownership per year, which can hover around $1.5 million (depreciation included). Variable costs depend on the number of hours operated and miles traveled, but a typical Phenom 300 owner could anticipate $800,000 in variable costs when flying 400 or more hours per year. Fuel, maintenance, crew expenses, catering, parts, and landing/parking fees contribute to variable costs.
  • Hiring and Managing Flight Staff, Plus Other Fixed Costs: The cost of a private jet also includes pilot salaries ($100,000 or more per pilot plus benefits), insurance ($30,000 or more), the cost of renting a hangar ($30,000), as well as a variety of other fixed costs such as refurbishing, recurrent pilot training, computer maintenance, avionics maintenance and navigation chart service.
  • Managing Flight Schedule and Revenue Generation: Each aircraft owner’s needs are different, but there’s a delicate balance in releasing a plane for revenue generation and retaining it for personal use. Syncing the schedules of owners, pilots and passengers can be challenging if not managed professionally. Scheduling flights and availability offers the chance to reduce costs when managed by a dedicated team of professionals.

 

iJET Flight support offers a high quality Ground Handling Airport Services, and Refueling for your private jet which are supported by an ISO Certificate and by the strong trust bond between iJET and its wide range of clients.

What to Buy: New or Used (Pre-Owned) Private Jet?

Both new and pre-owned private jets offer positives and negatives when looking to purchase.

A used jet will be cheaper. Maintenance costs are likely to be higher, though. If you opt for a much older aircraft (most private jets have a serviceable lift of up to 50 years), fuel efficiency and older equipment should also be considered. Bear in mind that fittings and interiors can be updated and replaced, so this should be less of a consideration than the airframe, engines, and avionics.

Buying new jet will enable you to choose your specifications and benefit from the latest upgrades and technology. A new aircraft will likely need less maintenance and will also have certain warranties offered by the manufacturer. This can affect long-term costs as well as reliability and time out of service.

Newer aircraft can be more efficient (climb faster, burn less fuel, require less maintenance) than used ones. However, older aircraft can always be modified, for a cost.

Is Renting a Private Jet Less Expensive Than Buying One?

If you charter frequently, it is almost always less expensive to rent than to own a private jet. There are a lot of things to think about before buying a private jet, such as which aircraft meets your needs. On top of the (typically) huge price tag that comes with most private aircraft, there are maintenance, staff, and operational expenses to consider.

Flights on private jets are charged by the hour. Prices vary depending on the size of the plane, the length of the flight and the number of people on board but Private planes are usually more economical for executives whose time is as valuable as money.

You may enjoy all the advantages of owning a private jet without having to worry about the maintenance and running expenses that come with ownership when you rent or charter a private aircraft. Not only that, but instead of being constrained by the one aircraft you own — not all private aircraft are appropriate for every flight or runway — you get to choose which aircraft best matches your needs for each trip you take.

Private Jet Operates

Operation of the aircraft is usually delegated to professional operators or management companies. According to the regulations, the operator is responsible for entire operation, including safety. Choosing the right operator is essential, as this will determine your entire flight experience, the operational cost efficiency and may even impact the re-value of your aircraft. It may allow condition the availability of aircraft financing.

What Are the Needed Info and Permissions to Fly a Private Jet?

Aviation is a heavily regulated industry, and a private jet flight must be carefully planned and organized for flawless passenger experience for a safely reaches to its final destination.

Itinerary is requested, the number of passengers and luggage, the on-board services, and any other specific requests.

When the aircraft is selected and the trip confirmed, the account manager must obtain all travel information and valid documents from the client and verify with the operator all aspects of the flight.

Based on the trip, the below details must be taken into consideration:

  • The country and the final destination.
  • The various permissions to operate on the desired airport.
  • The confirmation of the slots (hours of departure/arrival) requested by the client.
  • The airports hours of operations, eventual requests for extensions and fees associated with such requests.
  • Overflight permissions per country if outside EU.
  • Valid passports and visas.
  • Passport and medical records for all pets onboard.
  • Onboard Services & catering wishes.
  • The number of luggage and size if necessary.
  • Parking availability or repositioning fees.
  • Terminals Selection
  • Weather conditions

 

The Price of a 6-Hour Cross-Country Private Jet Charter Flight

  • On turboprop or smaller private jet: $7,800 to $18,000 (4 to 6 passengers)
  • On a midsize private jet: $24,000 to $48,000 (up to 9 passengers)
  • On a large private jet: $51,600 to $78,000 (14 to 19 passengers)

 

When relying on iJET, our sincere client doesn’t need to worry anymore about the details of his international trip planning as our well equipped team will never make you disappointed

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