Is It Cheaper to Buy a Private Jet or Rent One?

 
buy-or-rent-private-jet

Buying a jet or flying private is more affordable than you think.

If you’re a frequent traveler, whether for business or leisure, you know the stress and inconvenience of airports. You spend time traveling to the airport, waiting in line through security, boarding the plane, waiting for the plane to take off, and, more often than not, encountering some delay.

Imagine what you could do if you regained that time, only losing the time spent flying and not waiting around. That means more meetings, more time on the beach and less time spent in airport lounges.

Buying or renting a private jet allows you to save countless hours and is more affordable than you think.


Is it worth it to buy a private jet?

If you travel frequently and value time and convenience, buying a private jet might make sense for you. For example, if you have a business in Dallas, Texas, you can travel across the country on very short notice. You can attend meetings you usually wouldn’t and return in time for a glass of wine before the sun sets. You won’t get that luxury flying regular air travel.

Below, we’ve broken down the benefits of owning a private jet.

What are the benefits of owning a private jet?

Save time

One of the key benefits of owning a private jet is time travel. And while you won’t need a DeLorean to jump time zones, flying privately will help you save time queuing in airports, going through security, and flying on a commercial schedule.

If you’re one for last-minute trips, flying private is very convenient and will help you save countless hours.

Fly on your schedule

Traveling to the airport, going through security, waiting to board, and being met with delays, are all time sucks. When flying private, you can fly on your own schedule. You can decide when you want to fly—not set in stone by the airlines.

The convenience of flying on your schedule is enough to justify buying a private jet for some people.

Save money

Buying a private jet can help you save money. For starters, it’s tax-deductible if you’re flying for business.

If you’re a frequent traveler, you’ll save even more money. For private jet ownership to be profitable, you’ll need a minimum of 400 hours of flight time a year. 

But again, if you’re flying to make meetings that you’d not be able to make on a regular commercial flight schedule, then a handful of trips might just pay for the entire jet.

buy-or-rent-private-jet

What about the downsides?

Cost

If you’re not a frequent flier or don’t travel for business, then the cost of a jet may be difficult to justify.

But that’s where leasing or fractional ownership comes into play. Leasing a jet allows you virtually the same benefits and flexibility as owning a private jet, but without the overhead cost of buying, staffing, and other associated costs that come up in airplane ownership.

Fractional ownership is where multiple owners share the cost of operating the aircraft. Flight hours are granted based on the number of flight hours purchased. This method allows you to split the costs of flying private—ideal for those who travel frequently, but can’t justify purchasing an aircraft.

How much does it cost to buy a private jet?

It costs anywhere from $2 to $100 million to buy a private jet. More affordable jets are typically smaller and more dated aircraft. Smaller jets often carry between 4 and 12 passengers, depending on the aircraft.

As well as owning a private jet, you have other related aircraft expenses, including:

●      Flight crew salaries

●      Maintenance and repairs

●      Hangar rental

●      Aircraft insurance

●      Fueling

How much does it cost to charter a private jet?

The cost to charter a private jet depends on the aircraft you’re flying on and where you're traveling. Prices vary per hour of flight time, beginning at as little as $2,000 and going up to $14,000 plus.

For example, traveling from Dallas, Texas, to Miami takes just under 3 hours. Depending on the aircraft, the number of passengers, and other factors, the cost can range from $6,000 to $42,000.

buy-or-rent-private-jet

Save time with our jet charter and fractional ownership services

Enjoy significant time savings and added convenience with our jet charter and fractional ownership services. 

Whether you’re traveling for business based out of Dallas, Texas, or leisure, we work with numerous jet operators and brokers to help you find the best price to match your budget.

And for those who would rather buy their own private jet, we can help guide you through every step of the process.

 
 

personal lifestyle concierge services in dallas tx & worldwide

BESPOKE LIFE: ELEVATING YOUR LIFESTYLE

Kostia Shykh