For those with the means to afford operating a private jet, the experience is unparalleled: Fly almost anywhere in the world in total comfort and style without any of the hassle, all according to your own schedule. As those who’ve enjoyed the luxury of private aviation can attest, the experience of flying commercial — even in first class — can’t even begin to compare.
All of that said, private jet operating costs are steep, leading prospective buyers to explore different opportunities such as charter, fractional ownership or membership programs, which may enable them to enjoy all the benefits of flying private at a lower cost than outright acquisition.
Are you trying to decide whether private aircraft ownership or an alternative private aviation service is right for your budget? Let’s get a better picture by breaking down private jet operating costs.
Snapshot: Private Jet Operating Costs
Owning and operating a private jet is a long-term investment, one that requires considerable resources to maintain. Beyond the initial purchase price — which can range anywhere between $7 million to $75 million for a brand-new aircraft — there are a number of other expenses to consider, such as customization or refurbishment, insurance premiums, hangar fees, ongoing maintenance and repairs, fuel, crewmember salaries and so on. Before purchasing a private jet, be sure to work with an aviation consultant to calculate the variable and fixed costs, as well as the market depreciation and estimated flight hours, to get a clear understanding of the annual cost of owning a private aircraft.
Breaking Down Private Jet Operating Costs by Model
Private jet operating costs vary widely based on the type of aircraft and estimated usage.
Light jets, such as Embraer’s Phenom 100 or the Citation M2, are intended for short-to-medium range trips, can comfortably seat between two and four passengers and fall on the lower range of the cost spectrum. On the opposite end of that spectrum are long range private aircraft that offer as many as four separate cabin zones and a range of over 7,000 miles. Ultimately, your private jet operating costs will depend on your unique travel needs and requirements.
Let’s take a look at the average hourly operating costs for a few popular aircraft models.
Light Jet
| Manufacturer | Model | Category | Seats | Range | Cost per Hour | Purchase Price (New) |
| Embraer | Phenom 100 | Light | Up to 5 passengers | 915 nm | $1,523 | $2.5M |
| Cessna | Citation M2 | Light | Up to 6 passengers | 694 nm | $1,502 | $5M |
| Embraer | Phenom 300 | Light | Up to 7 passengers | 1,811 nm | $1,978 | $8M |
| Cessna | Citation CJ4 | Light | Up to 7 passengers | 1,667 nm | $1,952 | $9.6M |
Midsize
| Manufacturer | Model | Category | Seats | Range | Cost per Hour | Purchase Price (New) |
| Embraer | Praetor 500 | Midsize | Up to 9 passengers | 3,340 nm | $3,403 | $17M |
| Cessna | Citation Latitude | Midsize | Up to 9 passengers | 2,455 nm | $3,206 | $17.3M |
| Bombardier | Challenger 350 | Midsize | Up to 8 passengers | 3,277 nm | $3,800 | $27M |
Long Range
| Manufacturer | Model | Category | Seats | Range | Cost per Hour | Purchase Price (New) |
| Embraer | Praetor 600 | Long Range | Up to 12 passengers | 4,018 nm | $3,248 | $21M |
| Gulfstream | G280 | Long Range | Up to 8 passengers | 3,420 nm | $3,838 | $24.5M |
| Dassault | Falcon 2000LXS | Long Range | Up to 10 passengers | 3,803 nm | $3,732 | $35.1M |
| Dassault | Falcon 7X | Long Range | Up to 12 passengers | 5,466 nm | $4,891 | $53.8M |
Ultra-Long Range
| Manufacturer | Model | Category | Seats | Range | Cost per Hour | Purchase Price (New) |
| Bombardier | Global 6500 | Ultra-Long Range | Up to 16 passengers | 6,600 nm | $3,339 | $56M |
| Dassault | Falcon 8X | Ultra-Long Range | Up to 12 passengers | 6,290 nm | $4,811 | $59.3M |
| Bombardier | Global 7500 | Ultra-Long Range | Up to 19 passengers | 7,700 nm | $3,523 | $72M |
| Gulfstream | G650ER | Ultra-Long Range | Up to 18 passengers | 6,520 nm | $5,591 | $72.5M |
Find the Right Aircraft Type and Service Option With Essex
Essex Aviation brings years of aviation experience to the table — experience that we leverage to advise and represent our client in a wide range of services, through each and every stage of the decision process and transaction. Whether you fly domestically or internationally, or for business or personal reasons, if private aviation is your goal, we can help you identify the option that best aligns with your lifestyle and budget. Contact us today to get started.
About the Author
