When flying private, you know you can expect absolute convenience and comfort as a constant, no matter what plane you are on. However, the price of private jets can vary depending on your choice. The size of the plane you choose has the most significant influence on your budget.
Light and midsize jets are two of the most popular jet charter options. When deciding whether to book a light or midsize jet for your next flight, it is important to know what to expect from each option. It is even more important if you commit to buying a jet. So what are the differences between the costs of these private jets?
The first step in choosing the right plane for your private jet charter flight is weighing your needs. Light jets can hold between 3 and 7 passengers comfortably and reach ranges between 1,000 and 2,500 miles, perfect for travel to a nearby state. Meanwhile, a midsize jet is an excellent option for anyone who plans on traveling with groups of around 7-10 passengers and for travel distances between 2,000 and 4,000 miles. You may choose a midsize jet if you plan on traveling cross-country or to nearby countries.
Once you consider your needs, you can determine your likely charter plane costs. The size of each jet is important to the price, mostly because of fuel usage. Mid-size jets are larger and carry more fuel than light jets, causing them to travel longer ranges and leading to higher prices.
Size can also affect the price as many airports adjust their runway fees by weight, so owning a midsize jet can add an extra couple thousand dollars, depending on the airport. However, many airports charge a flat fee for aircraft under a certain weight, which means that only select, heavier jets require extra fees.
Most of the above costs are reflected in an hourly rate. The light jet charter cost per hour is between $6,500 and $8,000. Meanwhile, for midsize private jet prices, you can expect to pay around $8,000 to $9,000 per hour.
With a Jet Card membership, you can save on hourly rates regardless of the size of your jet. For example, at JetCharter.com, Jet Card members pay either $6,255 per hour for a light jet or $8,055 for a midsize jet.
If you fly more than 200-400 hours a year, it may be a good idea to consider purchasing a private jet. Unless you plan on traveling long ranges or with groups larger than seven people, a light jet is a great first choice for private jet ownership. Popular light jets for purchase include:
There are two main costs to owning a private jet: the cost to purchase the aircraft and the cost to manage and maintain it. When purchasing a light jet, you should budget anywhere between $1,500,000 and $12,000,000. This price depends on the jet's age, model, and customization.
Like flying via private jet charter, you pay less in fuel costs and runway fees than other jets when you own a light jet. However, other factors will drive up the cost of ownership, like hangar storage, parking fees, maintenance, cleaning fees, insurance, and more. Altogether, for a light jet, you can expect to pay upwards of $300,000 and as high as $1,500,000 for annual management fees, depending on your jet and how often you fly.
Still, you can expect to save a few thousand dollars on hangar fees, insurance, and cleaning for a light jet due to its smaller size. If you frequently fly short distances, then buying a single-pilot jet could save you money on staffing on top of storage and fuel.
If you plan on carrying out longer-distance journeys or planning trips with more passengers, you are better off purchasing a midsize jet. Some excellent examples of midsize jets to purchase are:
For purchase, midsize private jet prices range from around $2 million to $20 million. Because of the higher fuel costs for a midsize jet, you can expect to pay considerably more annually compared to a light jet.
Other ownership costs for a midsize jet, like hangar fees and flight staffing, are also higher due to the larger size. Hangar fees can be as much as $20,000 higher per year compared to light jets. Altogether, you can expect to pay around $1,000,000 to $2,000,000 for yearly management fees depending on your jet and your flight time.
Contact JetCharter.com to learn more about the prices of private jets and charter plane costs. We are happy to provide insight into flying private charter and help you with your planning. Whether you need help booking your next charter flight or need aircraft management services, JetCharter.com is here to help. Whatever your travel arrangements, you can trust JetCharter.com for our advanced safety measures and unparalleled customer service—contact our 24/7 concierge service today.