Owning a private airplane can the apex of luxury travel; the convenience and “cool factor” are undeniable, and these comforts certainly come with a price. There’s a reason we all don’t travel by private jet every day, and that’s because not only are the vehicles themselves extremely expensive, but their upkeep and maintenance and be quite prohibitive to most people as well. Isn’t it a great idea of owning such a magnificent machine just like Mark Zuckerberg, Harrison Ford, Steven Spielberg and Donald Trump and travel in it? Well so how much will it cost to park a private jet in your hangar?
Let’s talk about a few of the procedures and costs associated with private jet aircraft so you can decide whether or not that buying a private jet is right for you. In this, we will talk about Cessna Citation X by an American Aircraft Company Cessna.
First of all let’s say you’ve purchased a used 2011 Cessna Citation X with low flight hours for about 10,000,000 USD before taxes. Immediately after that you are going to need a place to park or dock your jet for which you are going to need a hangar space big enough to fit your Cessna and close to an airfield. For a 100×150 hanger close to the airfield shows that you’re looking at about 3000 USD per month.
Now let’s talk about the fuel requirement. If you plan to fly the Citation X, it will take 336 gallons of fuel (1272 liters) an hour when cruising and 430 gallons per hour (1628 liters) during takeoff and climbing. Obviously the cost of fuel will depend on how much the plane is actually in the air flying. The fuel tanks in this particular aircraft hold 1,926 gallons (7,291 Liters), so filling up on empty will cost you around 11000 USD keeping in mind that the Cessna is one of the more fuel-efficient mid-sized business jets on the market.
Unless you can fly your own plane, you’re going to need to hire a crew, which includes: a pilot, a co-pilot and maybe even a flight attendant or stewardess. It takes 215,000 USD a year for a skilled professional crew to staff your aircraft. But if you would like to pilot your own aircraft it would take months of training and cost of around 100,000 USD just to get commercial pilot’s license.
The maintenance cost also adds up while owning a private jet. This cost is variable and depends on the amount the plane is used. But it is not unusual to pay several hundred dollars and hour for maintenance services. Naturally if the aircraft is in the air for more hours, the owner will incur more maintenance costs.
It is not a child’s game to own a private jet. But if you want to experience the dream of private air travel alive, chartering your jet can significantly offset the cost of ownership. Chartering is a service where your plane is chartered out to other users for a fee when the owner isn’t using it. This can help cover the fixed costs of owning a private aircraft but if not done correctly can devalue the plane quite a bit and thereby costing the owner in the end.
However owing a jet differs from owing other modes of transportation, for example you certainly wouldn’t ignore a “check engine” light on a plane. The price can vary greatly depending on the type of aircraft purchased and the amount of usage and several other highly variable factors. Thus, if you have the resources necessary and carefully plan, a private jet can be a powerful tool for business and entertainment.