How Much Does a Private Jet Cost?

The costs of purchasing and operating an aircraft vary depending on the aircraft model. To put it simply, the larger the aircraft, the more it will cost to buy and maintain. The original cost of an aircraft is also affected by its age and usage. For example, 30+-year-old light jets (such as a Learjet or a smaller Cessna) may be found for well under $1 million. Yet, a brand new huge, heavy jet (such as a long-range Gulfstream) can cost more than $70 million, or more than $100 million if you want a custom equipped Airbus or Boeing.

There are multiple articles on the web that detail the varied expenses of specific aeroplanes. These articles demonstrate the usual annual ownership costs, including fixed and variable expenses and market depreciation.

Costs may vary depending on how the plane is used, and owners should include crew salary, hangar costs, insurance, training, maintenance, fuel, and so on.

Here are a few examples:

• A brand new Gulfstream G500 can cost $45 million; pre-owned aircraft such as the G450 can cost as little as $14 million, depending on age and condition. Following the initial investment, annual variable expenses of $1.6 million are estimated and fixed yearly costs of approximately $880,000.
• The Bombardier Challenger 650 may be less expensive in terms of upfront investment. A new model will cost around $32 million, with older models such as the Challenger 605 selling for approximately $15 million. Nonetheless, you’re looking at $1.5 million in year variable costs and $725,000 in year fixed expenditures.
• An Embraer Phenom 300 will set you back a little less than $9 million, with second-hand aircraft costing between $7 million and $8 million. The annual variable expenditures are expected to be in the $800,000 range, with an additional $343,000 in fixed costs.