How Much Does a Private Jet Cost?

Year: 1980
Price: Owner accepting offers
Passengers: 7
Specifications:

• 967.9 AFTT
• 3879 Landings/Cycles
• Certifications: RVSM, MNPS
• Freon Air Conditioning: CESCOM
• Thrust Reversers
• Provisions for HF radio
• ADF: Collins ADF-60A
• Dual Air Data Computers: Shadin
• Communication Radios: Collins VHF-20
• Compass: Dual Sperry Rand/Honeywell C-14 Gyrosyn
• DME: Collins DME-40
• Flight Director: Honeywell FZ-500
• GPS: King Bendix KLN-90B
• Navigation Radios: Dual Collins VIR-30A
• Radar Altimeter: Sperry Rand/Honeywell
• RMI: Dual Collins 332C-10
• Transponder: Dual Collins TDR-90
• Weather Radar: Collins WXR-300

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CESSNA CITATION II FOR SALE

Year: 1982
Price: $295,000
Passengers: 9
Specifications:

• 17,261 AFTT
• 13,147 Landings/Cycles
• Maintained: EU OPS
• Not on any maintenance program, always hangared
• Certifications: RVSM
• Equipped with: CESCOM, RVSM
• Avionics: ADF: Dual Collins
• CVR, FDR, RMI: Dual Collins
• Avionics Package: Collins Pro Line II
• DME: Dual Collins
• Navigation Radios: Dual Collins
• Aircraft will be delivered with fresh Phase 5 inspection
• In addition to the asking price, three spare engines and spare parts are available to purchase
• On current AOC with EU operator (EASA) Danish registration

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BOMBARDIER LEARJET 35A FOR SALE

Year: 1982
Price: $395,000
Passengers: 8 (includes belted toilet) or 1 stretcher and 5 seats or 2 stretchers and 3 seats
Specifications:

• 17,747 AFTT
• 11,985 Landings/Cycles
• EASA Compliant, still on AOC
• Long range tanks
• STC for medical equipment/stretcher
• Avionics ADF: Dual Collins ADF-60A w/dual ANT-60A antenna
• Altimeter: Aerosonic standby
• Autopilot: J.E.T. FC-200 w/YD-202 yaw damper
• Communication Radios: Dual Collins VHF-21C w/8.33 spacing and dual CTL-22C controllers
• CVR: Fairchild A100A
• DME: Collins DME-40
• FDR: Fairchild F800
• GPS: Dual Trimble 2101 I/O Plus
• Hi Frequency: King KTR-953 w/KAC-952 antenna and Motorola NA-135 SELCAL
• HSI: Collins Pilot
• Navigation Radios: Dual Collins VIR-30A
• Radar Altimeter: Collins ALT-55B
• RMI: Aeronetics
• TAWS: Honeywell Mark VIII EGPWS
• TCAS: Honeywell CAS-67A TCAS-II w/change 7.1
• Transponder: Dual Honeywell MST-67A w/PS-550 controller
• On current AOC with EU operator (EASA) Danish registration

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HAWKER 800B FOR SALE

Year: 1985
Price: $890,000
Passengers: 8
Specifications:

• The Hawker 800 is an upgrade of the 700, featuring a series of modifications. These include a modified fuselage and upgraded avionics enabling an increased range
• 12,465 AFTT
• 8,169 Landings/Cycles
• EASA Compliant
• Maintained on CAFAM, Engines and APU are not on MSP. E Inspection (12 Mths) – 15 April 2019, F Inspection (24 Mths) –15 April 2020, G Inspection (48 Mths) – 15 April 2022, B Inspection (800 Hrs) – 718 Hrs to go, C Inspection (1600 Hrs) –1518 Hrs to go
• TCAS 7.1 Compliant
• Honeywell MK VIII EGPWS
• Honeywell Class B TAWS
• Collins Five Tube EFIS 86C
• Dual Collins VIR 32 Navs
• Dual Collins VHF-22B Comms
• Dual Collins EFD-85 Flight Directors
• Dual Honeywell MST67A Transponders
• Dual Collins Air Data Computers
• Dual Universal UNS-1Msp FMS
• Dual King-956 HF Comms w/ SELCAL
• Collins APS-85B Autopilot, Collins DME-42
• Collins ADF-60B Collins ALT-55B Altimeter
• Collins WXP-85 Color Radar
• Collins ALT-55B Radar Altimeter
• Trimble 2000 GPS, SAT/AFIS
• Multi-Function Display
• Certifications: EASA, RVSM, MNPS, Aug 2017
• Interior refurbishment and March 2018 exterior

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HAWKER 800XP FOR SALE

Year: 2000
Price: $2,450,000
Passengers: 8
Specifications:

• The eight-seat Hawker 800XP has a spacious cabin at 21 feet long, 6 feet wide and 5 foot 8 inches tall with an enclosed lavatory
• The jet has a long range that can fly from New York to Singapore
• 6,087 AFTT
• 3,958 Landings/Cycles
• Maintained: JAR OPS General and EASA Compliant; Maintained on CAFAM, B & D inspections c/w 11/14. E, F, G & 16-Year Structural inspections c/w 12/04/15. Gear overhaul due 02/24
• Engines on MSP Gold. APU on MSP
• Two owners since new
• Professionally operated and maintained
• Refurbished and repainted 2016
• Certifications: RVSM
• Avionics: Dual Honeywell RNZ-850
• Autopilot: Honeywell SPZ-8000 IFCS
• AFIS: AlliedSignal AFIS
• Avionics Package: Honeywell Primus II
• Communication Radios: Dual Honeywell RCS-851E w/8.33 kHz spacing
• CVR: Universal CVR -120
• Navigation Radios: Dual Honeywell RNZ-850 w/RM immunity
• EFIS: Honeywell 5-tube
• DME: Dual Honeywell RNZ-850
• FDR: AlliedSignal
• FDR; Flight Rules: IFR
• Flight Director: Dual Honeywell EDZ-818
• FMS: Dual Honeywell FMZ-2000 w/GPS
• Equipped with: Engine Maintenance Program, 8.33 channel spacing, FM immunity, Traffic Collision Avoidance System, Flight Data Recorder
• Not equipped with Winglets, XPR Upgrade

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Buying a private jet

Buyers should first consider the size that best suits their needs. Private jets can be small turboprops or light jets, midsize or super-midsize jets, heavy jets or luxury executive airliners. Passenger capacity is one important factor, but it’s also essential to consider the typical distances one will fly. Small planes need to stop and refuel on longer trips, which adds cost and travel time. On the other hand, larger planes are expensive to operate if your typical flight time is short.

Next, consider whether you’d like a new or pre-owned aircraft. As a few examples, a brand new Cessna Citation M2, a light jet that seats seven, costs about $4.5 million at base price; the Learjet 75, a popular midsize jet that seats nine, costs about $13.5 million; and the ultra-luxurious Gulfstream G650, a heavy jet that seats up to 10, has a base price of $64.5 million. If a buyer plans on traveling with more passengers than that, the 17-seat Bombardier Global 6000 costs $60.5 million.

An aircraft’s lifespan is measured in flight hours and landings rather than age, so private jets are often viable for decades. Many buyers opt to purchase a pre-owned aircraft to cut costs. As a comparison, possible prices start from $3.5 million for a used Cessna Citation M2, $7 million for a Learjet 75, $62 million for a Gulfstream G650 and $50 million for a Bombardier Global 6000.

The costs don’t stop there. Once the plane is purchased, the largest expense for owners is aircraft maintenance, which can cost from hundreds of thousands to several millions of dollars a year. A brand new jet is expensive, but will come under full warranty to cover any repairs or replacements within the first few years of ownership.

Additional costs for private jet owners include insurance, fuel, hangar space and pilot and crew salary and expenses. If you’d like to customize the interior of your aircraft, this can also come at a high price, with a top-of-the-line cabin design costing as much as $100 million.

Chartering a private jet

Given the high cost of owning an aircraft, chartering a private jet is a far better option for the majority of travelers, as it offers all the convenience of private jet travel without the expense of maintaining an aircraft. While private jet travelers also pay costs such as fuel, airport handling fees, landing fees, crew costs and passenger taxes, the expensive maintenance fees are covered by the owner.

When chartering a private jet, travelers can cut costs by choosing the ideal aircraft for each individual journey they make. For instance, one week you could take a turboprop such as a five-seat Piper PA-34 Seneca from Boston to Nantucket for about $3,000, then the following week fly your entire team to Chicago for a business meeting in an eight-seat Hawker 750 for approximately $21,000. This way, travelers can ensure that the aircraft they select is always the most cost-effective choice. For more information, read our article on how much it costs to book a private jet charter.

Not every aircraft can accommodate all routes. Small jet owners have to charter a larger aircraft or book a commercial ticket for long-haul flights. Additionally, airports like St Bart’s and Courchevel have shorter runways that aren’t suitable for certain planes. When flying by private jet charter, travelers can guarantee that their plane will always be suited to their destination.

Private jet charter passengers can also take advantage of ‘empty leg’ flights, which happen when a one-way charter aircraft flies back to base or goes on to another location for its next booking. Empty legs offer an extraordinary discount, sometimes as much as 75% off the cost of a regular charter, as the plane would otherwise be flying empty.

Do you have questions about the cost of arranging a private jet charter? If so, contact us. Our specialists will provide a personalized quote and help you choose the best plane for each journey you take.

Which type of private jet is right for you?

The biggest indicator of an aircraft’s price is its size. The most compact options are turboprops and light jets, which are designed for short, regional flights. Travelers looking for enough space to move around the cabin can opt for a midsize or super-midsize jet, which typically seat seven to nine passengers. For ample space and total luxury, choose a heavy jet or a luxury executive airliner. These models have high ceilings, enclosed lavatories and the option to travel with flight attendants. This category is the most luxurious and expensive.

While size dictates the number of passengers a plane can accommodate, it is also an indicator of the aircraft's range. Most small jets have a short range, so they need to stop to refuel on longer flights. This adds cost and time to the journey. On the other hand, a large jet has high fuel costs and is not the most cost-effective option for a short private flight. However, a large size does not always equate to a long range. Some small aircraft are optimized to have a longer range and other large jets are less efficient.

The price of a new private jet varies greatly. For example, a new Beechcraft King Air 350i, a turboprop that seats eight, starts at approximately $7.5 million. If you're looking for a light jet, a new Cessna Citation CJ3+ could be listed for around $8 million. The most popular aircraft are listed in our top five lowest cost private jets available today.

The Learjet 75, a popular midsize jet that seats nine, is currently listed at $18.2 million. In the super-midsize category, the Cessna Citation X+ goes for $23 million. Moving up to the heavy jets, the Embraer Legacy 650 is listed at $25.9 million. For an even more luxurious heavy jet, the Gulfstream G650 has a base price of $64.5 million. If you're seeking a luxury aircraft with an ultra-long range, the 17-seat Bombardier Global 7000 goes for $73 million.

Should you purchase a new or pre-owned aircraft?

The lifespan of a private aircraft is not measured in years. Instead, it is measured by flight hours and the number of landings. For that reason, buyers can often find an older jet in good condition for a far lower price than a brand new plane.

How would you like to outfit your jet?

One of the perks of ownership is the freedom to outfit the cabin of your private jet exactly as you'd like. This might mean adjusting the number of seats so it fits your family perfectly, or splurging on an extravagant private jet interior. The most lavish cabins feature custom leather upholstery, elegant master bedrooms and top-tier aviation entertainment systems. The sky’s the limit for private jet customizations and these interiors can easily reach hundreds of millions of dollars. To learn more, read our article on the price of a custom private jet interior.

What are the operating costs of a private jet?

Once you own the aircraft of your dreams, you'll need to pay to operate it. There are fixed costs like hangarage and insurance. There are also variable costs, which relate to the number of hours flown. These include fuel costs, maintenance, landing fees and hourly rates for pilots and crew.

Many owners decide to charter out their private planes when they aren't in use to recoup costs. While this can save money for the owner, it also involves a monthly fee to a management company for handling the charter operations.

Should I consider chartering a private jet?

Given the high price of ownership, chartering a private jet is a better option for the majority of travelers. Private charter passengers enjoy the perks without having to deal with expensive maintenance fees. While there are fees when a passenger flies by jet charter – like fuel, airport handling fees, hangar parking, crew costs and passenger taxes – avoiding maintenance costs can save you millions in the long term.

Additionally, travelers on jet charters are free to choose the ideal aircraft type for every journey they take. Each trip will have a most cost-effective option. As an example, the best private plane for a trip from New York to the Hamptons will be different from the best plane for a long-haul flight from New York to Los Angeles. A good private jet charter company can help you choose the right plane for each individual trip.

How much does it cost to charter a private jet?

As an example, a short flight from New York Teterboro to Montauk in a turboprop like a Cessna Grand Caravan 208B might cost around $3,100. As the aircraft seats nine, the per person cost is quite reasonable. If you're traveling from Teterboro to Palm Beach with your family, you'll want to take a faster jet. The eight-seat Citation CJ2+ costs approximately $17,500 and will get you there in two-and-a-half hours.

If you're traveling from Teterboro to Los Angeles Van Nuys Airport with your colleagues, you'll want an airplane with a longer range and more space to spread out. A 12-seat Challenger 601 could cost approximately $48,000 and seat 12. As these examples show, the best value aircraft is different for each particular journey. Jet charter passengers can choose the best plane every time they fly.

Additionally, certain airports cannot accommodate all aircraft. Large planes are often unable to land at airports with shorter runways. This means that owners of large planes need to charter or book a flight on a commercial airline when they fly to challenging airports. For more information, read our article on how much it costs to charter a private jet.

As an added bonus, private jet charter passengers are able to take advantage of “empty leg” flights. One of the best-kept secrets in the private aviation industry, empty legs happen when a client books a one-way charter aircraft. As the plane needs to fly back to its base or on to another airport, the aircraft would otherwise be flying empty. Travelers can purchase that route as a charter flight at a major discount, often up to 75% off. To learn more about empty leg flights, read our article on the cheapest private jet charter trips.

Would you like to learn more about purchasing a private jet or booking a private jet charter? If so, contact us. Our specialists will help you select the aircraft that best suits your needs.