In this article, you will find out how the price of private jets moves in the market. Also, how the price depends on the model, and the size of the plane, how much the cheapest private jet costs. What are the benefits of traveling by private jet and why the price of fuel has been reduced.
When a private jet is owned by someone, many think that only extra rich people can afford it, so their wealth and power can be seen through them.
These aircrafts can be rented, but it is a real pleasure and comfort to be their owner.
This type of investment is not so easy. You need to think carefully before the act, whether and how important it is to you and what advantages you would have to buy this luxury machine.
Private jet travel, especially during the current situations with the Coronavirus, is safer, easier, and at your fingertips.
If you continue reading, you will find out if only rich people can own such planes, by discovering the price of these luxury machines. Not only that, you will find out which jet is the cheapest. Also, if you want to know about their lifespan, keep reading.
Have you ever wondered if you should buy a private jet? If you are thinking of a closer affirmative answer, you need to pay attention to a few things before buying:
- private jet prices;
- what are the market conditions and the availability of aircraft;
- can you afford to buy a new or used jet;
- what are the maintenance costs, the price of fuel.
The main word until your final decision is to CONSIDER all these issues, so let’s start!
You need millions of dollars to buy a private jet
The price of private jet varies and depends on the size, model, characteristics of the plane.
In any case, it’s millions of dollars.
It ranges from about 3 to 100 million dollars. The average price of used aircraft is around 14 million dollars.
What is the difference if you are buying a new, used one or if you want to rent a jet? First of all, the price.
So, here is the private jet prices list:
- New jet, from $ 3 to $ 100 million
- Second-hand jets – for those who want to save
- Private jet rental – the cheapest way to fly privately
New jet price – From $3 to $100 million
If you decide and have the opportunity to afford a completely new jet, you should set aside from 3 million to 100 million dollars, depending on their prices.
For beginners, the best is a medium-sized plane that costs 15 to 20 million dollars.
In addition to the fact that an expensive aircraft shows your wealth and success, it also helps you get to certain places easier and faster.
You will not wait for the jet, but it will wait for you, by making your own travel schedule. Also, since the whole world has been hit by the Coronavirus pandemic, the greatest security for travel is a private jet.
However, buying is not the only investment.
Every aircraft owner should have insurance, a crew, he must constantly take care of the fuel, to supplement everything that is missing.
A private plane is literally like a person, you should always work on it.
The new jet is also expensive due to the investment in the interior, so the seats are usually leather and it has luxury toilets.
The price of second-hand jets – For those who want to save
As new aircrafts are very expensive, used ones, which were previously owned by someone, are also suitable for those who would not give that much money. Their price is somewhere around 14 million dollars.
More and more people are buying used planes. It is estimated that each owner changes his plane every 3 to 5 years.
Private jet rental – the cheapest way to fly privately
Of all the variants, renting an airplane is the cheapest, but it is more expensive than commercial flights.
The price ranges from 2.000 to 10.000 dollars per hour of flight. Depending on the size of the plane, the price also varies.
If you are interested in smaller, which are also the most economical, the price is between 2.000 and 2.800 dollars per hour.
Medium airlines cost from 2,900 to 5,800 dollars, and renting the largest costs from 6.000 to 10.000.00 dollars.
Fuel prices for the jet fell due to the COVID-19
There are three types of fuel: Jet A fuel is used in the United States, but also in some parts of Canada.
The second type is Jet A1 fuel, which is used in all other parts of the world. The third type of Jet B is very rarely used.
Before buying an airplane, you should ask yourself how much does a gallon of jet fuel cost?
It is interesting that due to the fall in oil prices during the Coronavirus pandemic, the price of fuel for airplanes also fell.
According to the data, the difference is noticeable for the period January-May.
In January, the price of fuel is 0.65 dollars per kilogram, while the price in May is 0.20 dollars per kilogram.
The cheapest private jet to buy is (only) $ 1.96 million
And the medal goes to the Cirrus Vision aircraft, which is a very small but powerful cheapest private jet on the market. Its price is 1.96 million dollars!
This cheap little plane is special in that it does not have a classic rudder but a V-shaped tail.
It took 10 years for his idea and design.
Buyers can also be attracted by spacious cabins, large windows, and seats. This aircraft has also a very secure emergency system.
This small plane can accommodate up to five adults and two children.
However, if you have a larger family, another medium-cheap private plane that can accommodate 12 passengers is suitable. It is a Cessna Citation Sovereign + , the plane that costs 18 million dollars.
“The end of the life” of a private jet – as long as their parts
How long do private jets last?
The answer is that they last as long as their parts.
If some models are very old, often some parts are not produced for them. The plane lives as long as it is safe to fly and under full equipment.
When it comes to how long the owners keep the planes, as we mentioned earlier, it is from 3 to 5 years.
Another factor that shows that the plane is worn out is the number of passengers.
The jet age is also one of the key factors. It is not recommended to fly airplanes that are older than 30 years.
Advantages – if you want privacy you need a private jet
- Privacy – You will not have this benefit on commercial aircraft. And when it comes to work, but also personal life, a private jet is ideal to create your own corner without being disturbed by anyone.
- Safety – This is especially important now in the time of the Coronavirus pandemic when maintaining the physical distance is necessary.
Commercial aircrafts receive more people and are not as safe as private ones. They are also suitable for those who have health problems. Also, you do not need to worry if you have a pet and want to take it on a plane trip.
- It’s like being at home – when you own a private jet, you can make another house out of it and move in again. You can design the plane to your liking so that it suits your needs.
- Flexibility – When there are no flights by commercial aircraft to certain places or when there is no airport in those places, a private plane means a lot in that case. Because there are no restrictions for it.
Do you need a jet? If you fly more than 300 hours a year
Do you often ask yourself if I should buy a private jet?
The answer is simple. This decision requires not only time and money, but also other questions to think about:
- Have you inquired well about the prices of private jets, can you afford it?
- How many seats do you need on the plane? The number of people who will fly is very important to know what size airplane you need.
- How often do you travel by plane? If you travel often, then a plane is ideal to get to the desired place faster and easier. The frequency of travel is also important for the model of an airplane you will buy. Because some are designed for short trips and some for longer ones.
- What are your most common destinations? It is important to ask yourself this question before buying because if they are short, you need an aircraft with a smaller fuel tank. If your travel destinations are far away, then you need a larger tank capacity.
- Do you want to buy a new or used aircraft? In this text, you read what the difference is between them, and those are price and preservation.
- Calculate the cost of hiring a crew. According to the data for qualified pilots and flight attendants, you should set aside about $ 200,000 a year.
- Additional maintenance costs – keep in mind the fuel, which we mentioned above. It also happens that the glass breaks or some mechanical problem occurs, and all that comes at a price.
You shouldn’t buy a jet just to show it to others
If you buy a plane just to have it to show to others, it is not a good investment.
You can save millions or buy something you really use.
The information that can help you is that if you do not spend more than 300 hours a year flying, then you do not need it. Keep your needs in mind.
As you can see, buying a private jet has its advantages – primarily the safety and privacy.
It is also important that you have enough reasons to decide on this investment.
Traveling by private plane is faster and easier, but it is also much more expensive than regular flights. It is most expensive to buy a new jet, then, used second-hand, but you need it the least if you rent it.
In this article, you also learned about the additional costs of maintenance, hiring a crew.
Also, you learned that the life of an airplane can last as long as it is flawlessly maintained.
Depending on the price of the private jet, you can choose the one from 3 or up to 100 million dollars.
If you are interested in the cheapest one, then it will cost you 1.96 million dollars.
So, after all the items considered in the article, did you make the decision to buy the plane?