the rising cost of operating private jets, including higher jet fuel cost
world's private jet market is growing, thanks to more billionaires, bigger private jet
s of flying commercial post 9/11, more airports and longer
runways. John Travolta even has a private runway that ends at his house (right).
How much does a private jet cost these days?
The purchase cost of private jets of course depends on
the jet. A small Lear or Sabre that can fly 4 people around 2,000 miles costs about $3 million.
Slightly larger jets that seat 8 and have a range of around 3,000 miles run $10-20 million. Larger Lear jets, small Gulfstreams, Falcons
and Astra are in this category.
Mid-sized jets that can fly up to 20 people around 6,000 miles run $30-50 million.
Larger Gulfstreams, small Boeings, as well as Embraer
and Bombardier, which owns Lear, are in this category.
Above that is where things get interesting. Built by Boeing and Airbus, jets in
this category start at $50 million and are basically full-sized commercial
airplanes whose interiors have been custom-built as presidential
hotel suites. Those already delivered cost up to $100 million,
while one currently in
production tops $300 million.
So, should you buy a private jet or charter it?
That depends. If you fly more than 400 hours per year, truly need the
privacy and your time is really that expensive, it may be worth the investment to
buy, as well as to operate (at least $100,000 per year) your
If you fly less than 400 hours per year, it's better to charter. Not
considered, of course, is the over-rated prestige and hype of owning your own
flying presidential hotel suite,
especially in an era when conspicuous flaunting of wealth is becoming
passé, as well as a security risk.