Nowadays, there is an increasing trend among corporate chief executives and wealthy travelers to fly lavishly yet comfortably on custom jet aircraft. This business has exploded tremendously even middle management executive now follow the same lifestyle of using private jet. If you fly regularly or your punctuality is a strict law in your business, consider purchasing a private jet.
Below are several tips on how to purchase a private jet.
Step 1:
Conduct a cost-benefit analysis before you even consider a private jet. Aviation experts advise that 350 to 400 hours of flight time per year usually give a good reason for purchasing a private jet. Other than that, it would be better if you just consider fractional ownership.
Step 2:
Find out about the hidden fees beforehand. Outside of the price tag that starts from $6 million to $50 million for a new private jet, other factors to be considered include insurance, fuel, catering and pilots. Aircraft management companies will pay attention of these factors for external fee of $100,000 to $200,000 annually, depending on the size and usage of the jet.
Step 3:
Find out about the size and flying range you’ll need. Light jets ($3 million to $8 million) can carry approximately 5 to 8 passengers roughly 2,000 miles (3,219 km); midsize executive jets ($9 million to $16 million) can carry approximately 9 passengers from 2,000 to 3,000 miles (3,219 to 4,828 km); and large executive jets ($17 million to $45 million) can take up to 12 passengers more than 4,000 miles (6,437 km). The well known makers and models are: Boeing Business Jet, Gulfstream, Dassault Falcon, Learjet and Cessna
Step 4
When you’re ready to purchase, contact private jet manufacturers and ask for aircraft specifications and pricing scheme. Next, shop online via private jet dealers, which sell new and used jets, sometimes, even at deep discounts. If you need immediate help, our partners are ready to help you as well as cater to your specific needs.
Several Tips and Warning
-
Consider fractional ownership: You purchase a timeshare in a jet plane from a management company (mostly as a tax deduction), which only incur a monthly fee and hourly operations costs. With only four hours’ notice, the management company will send immediately any nearby jet which is most conveniently located. Check our special article!
-
Consider renting an aircraft. Please see our special article about renting a private jet.
-
To land at many U.S. airports a jet must be follow Stage 3 federal aviation regulations. Converting a private jet to abide by these regulations will take a couple hundred thousand dollars and several months of repair time.
Newest Trend
Consider purchasing a VLJ (Very Light Jet) instead. The VLJ is the newest class of aircraft and is far cheaper both to purchase (around $1-3 million) and to operate (some as low as $1 per mile). These planes weights are all less than 10,000 pounds, and can take up to 4-6 passengers. Other added benefit is most of them can take off and land in less than 3000 feet of runway. This allows them to land in thousands of small municipal airports instead of having to use the larger, busier commercial airports. Click here for special coverage on Very Light Jet (VLJ)!