Calculations can never be wrong: To Own or To Rent a Private Jet

As the very famous line for every private jet travellers says, “You don’t need to own one to fly like one”.

There are awesome Jet Chartering services that could provide you the same feeling like owning one, without such hassle traffic and hidden unreasonable and #inevitable delays. Tremendous people are dreaming of buying a private jet when they finally make it big and yet, they don’t realized the case is just a matter of weighing the ‘owning’ and ‘renting’ together.

Well how much does it really cost to own a private jet?

The cost varies based on the age, size and conditions of the aircraft. Well-maintained private jets have indeed a long life span and you must be very happy with this fact ‘coz it will cost you a million dollar less to own used jets in their very good condition than to buy new ones.

You’ll need est. $1.5 million to buy a turboprop like the Beechcraft King Air B200. Then an est. $3.3 million for a light jet like Cessna Citation CJ2+ and for a heavy jet like Bombardier Global 5000 would estimatedly cost you $25.9 million to be owned.

Now the real question is does the cost stop there? NOPE.

Let’s linger further in the idea of you wanting to buy one, assuming it’s your GOAL and it’s the satisfaction you’re dying to achieve. So here are the couple of facts you’d want to consider when planning to buy one.

Maintenance after Warranty

Just like all any other travel technologies (Cars, Motors and other hundred thousand to million dollars costs) private jet planes warranty will depreciate – no matter how million dollars they cost and just like anything, and these big toys depreciate as well.

Once your jet is out of warranty, you’ll incur unavoidable maintenance fees that will be paid right out of your own pocket. Whether it is a planned or unplanned maintenance the cost ranges from hundreds of thousands to millions of dollars annually. Especially for a major unplanned repair, it will cost you much higher than you expected.

And certainly, it will cost you more before the plane is in repair since it will not be operational during that time and so you’ll need to charter or fly commercial.

But, let’s not be too negative about this because owning one is a dream after all. Most used jets, depending on age and model can be covered by a good front-to-tail maintenance program to cover against the sure possibility of damage during usage. Good thing is that it can also be upgraded to include the latest interiors, connectivity and avionics.

How owners cope up with the costs?

Don’t mind the guy over there. He’s just dealing with these serious financial investments from his recently bought jet.

Indeed many companies and even individuals offer their jets out for charter to help offset the unending operating and on-going maintenance costs. They placed their luxurious aircraft with a management company – where they addressed the points regarding the issues of pilot and crew salary that will, in return, benefits each other. More especially against overall ‘soar’ costs, such as fuel that are usually being passed down by the  management company. Of course, those who rent out their aircraft for charter also need to pay the management company.

So knowing this, you might want to consider of buying older jet model since aircrafts (just like any other transportation mediums) depreciate.

What are the other costs?

And aside from those aircraft maintenance, there is another inescapable list of private jet costs that owners must cover appropriately. Include in the list is the safety inspections, aviation insurance and hangaring (parking for jets). Another thing that private jet owners need is of them to pay to reposition their plane when they fly one-way.  Repositioning time is the estimated time for an aircraft to reposition itself and transit to the trip departure position from its current position. Speaking of the cost within those times can be overwhelming.

We’re not disappointing you in owning one because to tell you frankly you’ll still shoulder part of those costs mentioned above even if you’ll do renting instead and after all it is YOUR money. But we’re here, saying all these facts, as a true caring individual – stranger individual (you can say that). But for us not to be a stranger anymore, you better stay tuned as we are updating this blog every week and our content’s goal is to help & inform you with well-researched and well-experienced facts about travelling.

So yeah-ha! let’s go back to –uhm-where-were-we? Ah yes! We’re in the portion about renting private jets in lieu of buying one!

The costs and benefits when renting private jets

There is an undeniable ease when renting private jets, we’re talking about the reduction of high costs and hassle of ownership. Millenials are very into travelling. Who doesn’t get outside? Even the most – I mean /theee/ M.O.S.T- introvert individual is into travelling as well!

According to Forbes, millenials extremely value the privacy and time-efficiency that private jet travel provides. However, owning one is their least choice (as if everyone can afford it, ha!)

However, in order not to be bias per se on this blog, we will list down –transparent- all the cost that you will incur if you intend to rent one.

As you can imagine, chartering a plane is a bit more involved than renting a car. There’s the expected calculation by charter companies with regards to landing fees, fuel costs and crew overnight fees, and all the other items (up to the very tiny costs) before they can give you the ever-crispy accurate quote. And from there, you can start browsing and requesting to 5 more chartering jet services to choose which got better offerings. The ‘better offer’ we’re saying does not represent how much payment only, but it also means ‘the privacy and time-efficiency’ (count in the food and all the luxurious other privileges) you can get. Just like the feeling of owning it.

Presented in the quote is the fuel cost which is the biggest part in the pie total costs. There are also more different incurrences that one will shoulder as they rent:

Count in the Landing fees – yeap. You’ll still shoulder it. It varies by airport and usually depends on the aircraft’s size and weight, ranging estimatedly from $100-$500 fees. Now, this is for the good cost as these fees are used to maintain runways and airport buildings.

Ramp fees are charged when a plane is parked at an airport for a length of time.

Segment fees are a government tax calculated on a per passenger basis.

Federal Excise Tax is applied to each flight at 7.5%

And depending on your planned route, they can also charge you with the following:

Crew overnight fees, which cost between $150 to $600 per night. That’s for per crew member’s food, transportation and lodging.

Crew per diem fees which will be around $75 per person for food on day trips.

Oh there’s also Wait Time Fees that are accrued for the – mind the word – wait time, the time when the aircraft is not flying. You better make sure to ask how much you’ll pay while the aircraft waits for you at the airport. Do some efforts to negotiate.

The short leg fees. Now, don’t mislead the name it is not about a person who is vertically blessed with cute legs and have to pay for it. It’s a charged when your trip is less than the minimum distance (which is around 400 nautical miles). Short distances mean the aircraft has to fly at a lower altitude, which uses more fuel. Fuel, remember, is the largest portion in the quotation.

Also, the reposition fees that I’ve explained already.

One-way fees are charged when the charter company has to fly the aircraft home empty. If you need a one-way flight, ask your charter operator to look for an empty leg flight, which will be discounted.

De-icing fees that are hard to predict, but cannot be not billed if your trip encounters cold and snow.

Of course the International fees will be added for permits, customs and taxes when you’re traveling to foreign countries.

Catered meals beyond the standard snack and beverage fare will be added to your bill.

Phone charges for in-flight phone use.

Cleaning fees should be expected if you got a pet with you that soiled the carpet or some other mishap occurs. The luxurious room should not have a dot of stain.

Wait! You might be overwhelmed with these flood fees showering your eyes and brain!

You’re not alone and chartering private jets offers a quality service and gives justice to every penny you’ll pay. The very good thing about renting is that it is not high cost as owning one that costed a million dollars plus this-and-that.

You weigh it straight like this:

“thousands vs. million”

Same fly feeling when owning and renting one, just that the latter is cheaper

For you not to be overwhelmed, Chartering private jets companies technique is not to breakdown every single detail to you because it is easier accounting for everyone. Just like this one simple quotation. Guaranteeing the quote and will not generate additional invoices later if the flight circumstances change the actual costs. Trusted chartering private jets company won’t do such thing for you and simply absorbs the costs. Except when the fees involved cleaning spills, catering upgrades and de-icing.

Now to wrap up this blog, we’ll leave you by saying: “check out our previous ones and the future ones!

Also be motivated to do the things you may haven’t done before, such as this one!

May you own it or rent it, what matter is that you have THE budget for it.

Reaching that luxurious feeling of private travelling is undeniably a necessity.

We suggest, as we are the best Chartering Private Jet company, that the very efficient way of traveling in the air is via chartering one!

It’s equivalent of owning it! It’s the feeling you gain that matters the most!

Travel Safe │Travel with Newport Jets │Luxurious Travel

– Be motivated by the fear of being average –

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