Do you travel by air often? Do you believe that receiving first-class airline service is more annoying than rewarding? There are both new and old private jets available if you’re considering purchasing one. The newest technology is available on newer aircraft. However, used aircraft are less expensive due to their older comforts.
Depending on the kind, size, maintenance, and operating costs of the aircraft, the price of owning a jet in India might vary greatly. Larger, brand-new versions can cost up to 100 crore INR, while smaller, pre-owned aircraft typically start at about 20–30 crore INR.
The costs of routine maintenance and unplanned repairs, hangar leasing, aircraft insurance, flight crew salaries and expenses, and other ongoing expenses could be included.
Different private jets
Jets come in various shapes and sizes, from compact, low-range six-seaters to bigger, long-distance flyers. Among the most popular jet options are:
- Very light jets
- Light jets
- Midsize jets
- Heavy business jets
- Ultra long-range heavy jets
- Airliners
Things to Consider Before Purchasing a Private Jet
Hourly Rate
Naturally, the first thing that should cross your thoughts is: How much do you fly? Aircraft vendors will tell you that owning a private jet is justified if you fly 200 hours or more annually. Brokers of aircraft who sell fractional ownership will state that the hours are closer to 400–600. Of course, they are also attempting to upsell you. Real estate fractional ownership is comparable to a timeshare. As a general guideline, a private jet must fly for at least 240 hours a year to have a sustainable operating cost.
Your Travel Routine
Whether or not to purchase a jet may depend on your travel habits even more than flight duration. For example, if you regularly must arrange one-way trips, you will be responsible for covering the expense of returning the aircraft and its crew.
On the other hand, the pilots, crew, and aircraft must be accommodated throughout your planned stay at a certain location, or they will be sent home. In either scenario, the expenses can considerably surpass the advantages of initially purchasing.
Ongoing Costs
Jet owners are confronted with significant recurring costs, starting with routine maintenance and downtime while the aircraft is on the ground, no matter where and how often they want to fly. And then there is unplanned maintenance.
Along with crew wages and aircraft insurance, there’s also hangarage, a hangar parking space. You are the owner and are responsible for everything. Numerous useful aircraft cost calculators are available on the internet. One website even breaks down the costs associated with airplane types and manufacturers.
If you do decide to buy, you may get assistance from a number of buying experts and aircraft management firms to set up the transaction and take care of it. Using private aircraft is one way to cut costs.
Other Options
Should the initial investment and ongoing expenses prove too costly for you, there are other significantly less costly options to become a member of the private jet elite. You might purchase a private flight club membership, buy a portion of an aircraft, or reserve a charter for a particular journey.
Reserve a Charter
A passenger can charter a flight directly from the agent of the jet firm or through an independent broker who is sufficiently knowledgeable about the market and its participants to assist in choosing the ideal aircraft for the passenger’s particular requirements.
Private Flight Club Membership
Short-notice reservations for domestic or international travel on various aircraft are possible with a private flight club membership at predetermined hourly rates. Travelers can join by purchasing memberships from a charter business, which then makes its fleet of aircraft available. Usually sold in yearly increments, subscriptions have a one-year minimum term.
Santosh Kumar is an editor at unfoldstuffs.com and a professional content writer. With years of experience he is passionate for creating engaging, informative and impactful topics.
