The cost of a private jet varies widely depending on the size, model, range, and whether it is new or pre-owned. Here is a detailed overview:
Purchase Price Range
- Entry-level new private jets, such as the Cirrus Vision Jet, start around $2 million
- Used private jets can be significantly cheaper, sometimes as low as $250,000, though additional refurbishment and maintenance costs may apply
- Mid-size jets typically range from about $2 million to $30 million
- Heavy business jets usually cost between $15 million and $30 million
- Ultra-long-range heavy jets can cost $20 million to $65 million for new models, with used ones being less expensive
- Large airliners converted for private use can cost upwards of $100 million, with some new models reaching $442 million or more
Ongoing Costs
- Annual operating expenses, including crew salaries, maintenance, repairs, hangar rental, insurance, and fuel, can range from $500,000 to over $1 million depending on the jet size and usage
- Hourly operating costs vary by jet size: light jets may cost around $1,100 per flight hour, midsize jets about $1,500 per hour, and larger jets even more
- Refurbishment and upgrades for pre-owned jets can add hundreds of thousands to millions of dollars, depending on the extent of customization
Alternatives to Ownership
- Chartering a private jet costs between $2,000 and $14,000 per flight hour depending on the aircraft type and size
- Fractional ownership and private jet clubs offer more affordable access without full ownership responsibilities
Summary
Jet Type| Purchase Price Range| Annual Operating Cost
---|---|---
Very Light Jets| <$1 million (used) to ~$5.7M (new)| ~$275,000 (for 250 flight
hours)
Light Jets| $1.8M to $4.7M (used)| ~$1,100 per flight hour
Midsize Jets| $2M to $30M| ~$1,500 per flight hour
Heavy Business Jets| $15M to $30M| $500,000 to $1M+ annually
Ultra Long Range Jets| $20M to $65M| Higher operating costs
Airliners (Luxury)| $100M+ up to $442M| Very high
Owning a private jet is a significant financial commitment, typically justified for those flying 200-400 hours annually or more
. For less frequent flyers, chartering or fractional ownership may be more cost-effective
. In conclusion, a private jet can cost anywhere from about $2 million for a small new jet to over $100 million for large luxury models, with substantial ongoing expenses to consider
