It goes without saying that private jets are quite expensive. They require a major amount of investment to go in. However, once acquired, passengers get the flexibility and freedom to fly away anywhere. These jets provide the perfect escape route to skip the commercial flight schedules and crowded airports in an efficient and hassle-free manner.
Although there are many benefits involved, it all boils down to one factor, cost. And it can be far more complicated than what one may expect. Whether one is searching for private jets for sale, or simply chartering them for single-time use, there are multiple factors in play. Let’s have a look at them in detail.
Hourly Rate
If you are planning to buy or charter a private jet, ask yourself the basic question- How many hours do you fly? If it is around 200 hours a year in the sky, then there might be a justification that a private jet is an option for you.
However, there are going to be many aircraft brokers who will meet and convince you to buy an aircraft with fractional ownership. This comes at a reduced cost, and shared ownership. But whatever choice you made, make sure to take into account your flying hours to make the best possible choice.
Experts believe that anyone flying for 240 hours should be able to achieve reasonable operating costs for the private jet.
Travel Routine
Another equally important aspect is to take into account your travel routine. This routine is based on how you travel? Are your flights one-way or two-way? Because if it is single-way mostly, you will have to pay extra to set the plane and crew back.
Similarly, if you plan to stay at a certain place for a longer period, you need accommodations. This will cover the parking space for the plane, stay for the entire crew and the pilot, or send them back home. So make sure you are able to outweigh the benefits when buying private jets, as there are major costs attached in the first place.
Ongoing Costs
Private jets have ongoing costs pertaining to the repair and maintenance costs that go in from time to time. They continue to add up, regardless of the number of hours it flies.
For instance, a simple tire change can cost a minimum of $2000 to replace. Also, there are charges for the parking space in a hanger, quite similar to that of a car parking lot. In addition to this, the owner has to pay for the staff and pilot salaries, aircraft insurances, fuel prices, cleaning charges, and other ongoing repairs. In all, the costs significantly increase and vary across different brands and models.
Therefore, if you are planning to make a purchase, do consult an expert to make the best purchase that sits well with your routine and finances.
More Possibilities
Cost remains an integral part when making a purchase decision for the private jet. The huge cost factor does not make it possible for one to simply make a purchase. Therefore, some other affordable possibilities exist. These greatly help you cut down the ongoing expenses and join the private jet set in a far more affordable manner.
For instance, one can book a charter jet for a specific trip, purchase partial ownership or buy a flight club membership. The memberships allow short-notice bookings for domestic and international flights at a range of jets at hourly rates.
Also, these options can be further customized to provide an even better experience that is hassle-free and cost-effective. Even the competitor companies can offer you charter flights, fractional ownerships, and memberships at a better price, so make sure to keep looking out for that option too.
Which Private Jet is Right for You?
Once the cost factor is taken care of, the next step is to make the pick for a private jet. The best indicator is to choose according to the size. This depicts how much fuel it can contain and how long it lasts. Based upon your need, make the right pick. The most compact ones are light jets and turboprops, best suited for short, regional flights. While the bigger ones are best suited for international and long flights
Passengers want spacious cabin sizes and can hold a minimum of seven passengers. The addition of amenities to give a comfortable and luxurious flying experience are definitely the add-ons.
The Takeaway
Purchasing a private jet is mostly about security, privacy, customization, and status. The right reasons, why you might also be thinking of buying one. When making a purchase, do visit the very reputable Empire Aviation group for some amazing private jet options, best suited to your needs.