How expensive is it to charter a private jet? That is a loaded question that we often receive from prospects and clients, especially those that have not looked into a private jet before. The question is loaded in the sense that it presumes that the cost is always expensive, which is not always the case. This question can be broken down into four similar questions.
What is the total cost to charter a private jet?
What does it cost to charter a jet per hour?
What additional costs are involved when you charter a plane?
What is the price to purchase a private jet?
Let’s start with the first question.
How much does it cost to charter a private plane? Most people are curious just what the price range is to fly with their family or friends on a private plane. Some will Google "charter a private jet cost " and be lost for hours trying to decipher all of the rates and aircraft types and figure out where to start. The simple answer, be prepared to spend at least $20,000 for a 2 hour round trip domestic flight. Once you start looking at transnational or international flights you are now easily in the six figures. There are a few key factors that will determine the cost for your private jet:
The type of aircraft. A light jet, mid-sized jet or heavy jet will all have different hourly rates.
The carriers home base. Unless the aircraft is at the airport you would like to fly out of, the carrier will have to ferry the aircraft in and out.
Your destination. The longer your flight, the more it will cost.
How long you are staying. For a one or two day trip, the aircraft will likely stay with you and fly you back home. Most carriers will have a daily minimum, which will cover the cost to park the jet, plus staffing, and staff expenses such a hotel. For a longer trip, the aircraft will likely bring you to your destination and then go back home, and then back to pick you up again to bring you home.
If you have a group that is looking to charter, you can use our handy cost estimator tool to get a quick starting point on the costs for an upcoming trip.
That brings us the the next sub question. What does it cost to get from here to there on an hourly rate? On average about $4,000 - $8,000 per hour depending on the aircraft type. Now that hourly rate is dependent on the aircraft performance and type of aircraft used. For example, a light jet might only be $3,500 per hour, but a heavy jet like a Gulfstream could easily be $7,500 to $8,000 per hour. Keep in mind that the aircraft may not be based in your origin city and the plane may have to fly in from a nearby city or base. The price for a private jet includes this (many times overlooked) ferry cost, which is a crucial part of the hourly calculations.
What additional costs are involved when you charter a private plane? Well there are some additional costs that are included in most charter quotes such as federal excise tax and segment fees (airport/ passenger fees) and there are some other factors such as fuel and de-icing which can be reconciled post flight. Then there are in-flight amenities which can also be purchased separately. Much like a fact hotel with the fully stocked mini fridge that as soon as you touch something gets added to your bill.
What does it cost to purchase my own private jet? So imagine you hit the Mega Millions jackpot or fall into a huge load of money (I imagine Scrooge McDuck swimming in gold coins).
Get ready for a BIG investment. The jet is the easy part. Depending on your preferences you could get a new or used jet for around $2 million. Then comes the real expenses. Storing and maintaining a jet are increasingly expensive. Somewhere in the tune of $500K-$1M a year. And that’s without it even flying a single mile. Add on top of that fuel and you’ve got yourself a money eating machine.
However, it does offer the flexibility convenience and privacy that only the ultra rich, high net worth, individuals can achieve. Plus what’s cooler than flying in your own jet or simply having a jet on standby to take you anywhere in the world.
Now that you know a little about how private jets are priced, you are ready to take the next step. Check out our related blog, how to book a private jet or contact us today for more information.