Private jet travel became the norm in 2020. Most people choose this mode of air transportation to reach their destination without putting themselves at risk of contracting the COVID-19 virus. With the emergence of new virus mutations, it seems like the trend will continue in 2021 and beyond. Reports claimed that private flights reached 90% of their normal capacity during the pre-pandemic days.
VistaJet, a leading business aviation company, announced in October 2020 that there was a 49% increase in corporate interest in private flying worldwide since the beginning of the pandemic. Inquiries regarding private jet price and other information also increased over the previous months.
Private jet prices vary depending on its size, passenger capacity, and the distance of its flight. Those interested in buying must also consider the cost of aviation fuel and other maintenance costs before purchasing a private jet. But if they want to enjoy private air travel without the commitment of owning a private jet, chartering a flight can be their best bet.
How Much Does One Have To Pay To Purchase A Private Jet?
Individuals need to shell out at least $3 million to a whopping $90 million for a brand-new private jet. They have the option to purchase pre-owned jets to lower down the costs, but it still requires them to pay millions of dollars to take home a private aircraft. For example, a secondhand Gulfstream G450 may come with a $14.75 million price tag based on the aircraft manufacturer’s website. The amount may increase to hundreds of millions if the buyer requires extra features and customization.
Aside from the jet, prospective owners must also consider the repair and maintenance costs required when buying a private plane. Depending on the air vehicle’s size, the new owners should expect to pay $500,000 to $4 million annually. On the other hand, fuel costs could go as high as $400,000 to $900,000 per year, depending on the plane’s number of flights.
A fleet of private aircrafts ready to fly for people who want to acquire their own jets for safer air transportation.
How Much Does One Have To Pay To Charter A Private Jet?
Renting a private jet may be more costly than a commercial flight, yet it remains much cheaper than buying one. The flights onboard the private jets are usually charged per hour. The rates depend on the jet’s size, the length of the travel, and the number of passengers.
The usual costs of chartered flights are between $1,000 to $10,000 for every hour of travel. If the passengers need to rent the jet for the rest of the weekend, they must prepare $100,000 to keep the plane running.
Buying a private jet requires more considerations aside from its price tag. It is best to evaluate all the necessary factors like maintenance, fuel, and hangar costs that can affect the private jet’s complete price tag before pulling out their checkbook to finalize the sales transactions. If they need to fly more frequently during the pandemic and beyond, spending millions for a personal jet could justify their desire to buy this expensive mode of air transportation.
