Have you ever fantasized about hiring a private jet? The freedom to go wherever you want to without having to worry about checking into an airport or having to share the experience with loads of other people is something that has probably crossed everyone’s mind.
If you’re one of the lucky few to be able to turn that dream into reality then you’re probably wondering how much does a private jet cost? Even a multi-millionaire has to save up for a jet. However, there are some clever ways to get around the private airplane costs.
The embraer lineage 1000e is a long range business jet, the aircraft was awarded FAA certification and had its first flight in 2007.
Buying a Jet
If you want to buy a jet then you will probably be looking at spending around $3-$90 million. Even multi-millionaires would struggle to buy a top of the range private jet so they are largely the preserve of the billionaire elite. Not only that, maintenance costs of private jets can be exorbitant. Regular service with Compressor Wash, repairs, and upgrades are just few items on the maintenance list. Some private jet owners even look for ground support equipment for sale to include in their investment and ensure their aircraft is properly maintained.
The number of billionaires is growing but it is not substantial that there would be a market for the top private jets.
Over the next decade, it is expected that around 8000 jets will be purchased, a fraction of the world’s population of 7 billion.
If you are to buy a jet it will be a big investment for most people. As a result, you need to consider the usual factors in making a big purchase.
How Often Will You Use It?
If you are only going to make a few trips a year then it probably isn’t worth it. Unless you bought a top of the range jet you could probably get a better experience traveling first class for a fraction of the cost of purchasing a jet.
If you regularly make journeys across the world – to visit relatives or because you have a business in two different countries – then it could be a worthwhile investment and always ensure you can travel in comfort.
Jet costs are much like those of cars. They depreciate over time because they ware out after frequent use as technology improves.
Unless you want a plane that is worthless after ten years you are going to need to sell up to purchase a newer model every few years. And this costs money.
There are various other options that are available to you. You could opt for Private Jets Hire if you only use it a few times a year. However, this is costly in comparison to the cost of flying first class in a top airline.
One option is to consider owning a jet through fractional ownership. This allows you to own a share of the jet. This means you are able to use it whenever you want it but when you are not using it other users can use it. This is great for the environment as 40% of private jets fly empty.
It’s a great way of splitting the cost of a private jet while also ensuring it gets maximum use.
How Much Does a Private Jet Cost? Costs Vary Dramatically
If you have spent your life looking up at the skies then you will no doubt have wondered how much does a private jet cost? In fact, costs vary dramatically because there are numerous different options from part-ownership to renting a jet.
If you are interested in reading more about private airplane costs or jet price be sure to check out the rest of our site.