Several pricing factors get calculated into private jet charter costs which include aircraft size, landing fees, and billable hourly rates. Owning a private plane costs a lot more renting a private jet flight when you need it, so that too must be taken into consideration.
Buy or Rent
Even if you use private jet charter services frequently, it is almost always cheaper to rent than buy. Buying a private jet doesn’t involve only the very high price of the jet but also the maintenance costs, the warehouse, the staff expenditure, the fuel, and the operating costs.
On the other hand, a private jet rental cost is only charged when you fly. Renting can bring you all the same benefits, just without all the extra costs associated with ownership. You only have to pay for private jet travel service you use. Since everything about flight is taken care of for you, this means fewer headaches, expenses, and involvement. You just need to book your flight and travel.
When you use a private jet charter company, you can use choose a different airplane model every time you fly, or simply tailor the size, the model for each particular trip you take.
While both options include advantages and downsides. However, the main dilemma to take into account is between spending millions of dollars to have a private jet customized exactly as you wish, or divide your costs on per flight basis.
Even if it’s cheaper than buying your private jet, keep in mind that renting a luxurious one is much more expensive than flying a commercial flight. The rates for renting luxury jets might vary a lot. The main difference is given by the size of the aircraft. The smaller the private jet, the lesser the fee. It also depends on the length of the flight. For example, a turboprop charter fee starts at around $2,000 and the price may reach $11,000 per flight hour if you rent a heavy jet charter.
Under these circumstances, the math is easy. Unless you fly over 150 hours per year, buying your own private jet doesn’t seem that good of an investment. What private jets cost don’t end with the purchase price either. Owning a jet will bring along considerable additional yearly expenses with maintenance, staff, insurance, etc. which are included in the cost of private jet flights.
A single-leg journey where planes depart from any destination without passengers is designated an empty leg flight or a dead leg flight. Typically these flights are when an private plane needs to reposition itself from it’s current airport to another airport where their next client is waiting.
The private jet charter pricing on these empty leg flights is quite cheap, as most companies simply only want to recoup fuel costs. Due to their need for passengers my private jet companies open these flights to anyone who is willing to pay. with deals up to 75% off the convention private jet charter cost.
Most private jet charter prices can be quickly estimated by by flying hour. The final private jet cost, however, is usually a personalized offer based on your needs you have discussed with your air charter service provider.
Here are the elements included when you charter a private jet.
This refers to the size of the plane. The prices go up accordingly to the size of the aircraft. Thus, your starting price will be around $2,000 per hour up to $10,000 per hour or even more.
There is a wide range of planes to choose from. The differences are considerable and depend on the market request at a certain moment. Prices vary from $200 to $2,000 per hour or more.
The newer charter aircraft cost more than the older versions. Here also you have to prepare for variations between at least $100 and $1,000.
This indicator takes into account the industry standard which starts at a minimum of 2 flight hours per day. The billable fee includes time in the air plus extra positioning fees. It is calculated as the time between the wheels up and wheels down moments and doesn’t count the preparation or waiting times.
These are fees requested by the airports for renting and using their landing facilities for your trip. The amount usually varies from $150 to $500, according to the size and weight of the plane rented.
Ramp and Handling
This fee is requested by the local base operator that handles and parks the aircraft. They vary approximately from $100 to $500. However, they are waived in most cases if you are charged with a certain minimum level fuel amount.
US Segment Fees
When flying within the United States you will be charged a Domestic Segment Fees (DFS) that cost around $8 per person, per occupied leg.
Federal Excise Tax
The FET (Federal Excise Tax) is added to all cost air transports including repositioning, landing fees, and crew expenses. Passengers are charged a 7.5% FET tax, while the tax is lower for cargo transport at 6.25%.
In your private jet rental offer, you will also be presented with catering options (snacks and beverages). The price differs depending on the package you choose. For example, for 4 passengers and a premium offer, the cost may go from $600 to $1,000 or more.
This is the cost for transportation to and from the airplane at the landing locations. It can be between $100 and $1,000, and a reservation in advance is required. You will also receive an offer for ground transportation before approving the rental.
The extended services packages may include in-flight activities such as spa treatments, celebrity chef meals, and also services at the destination like special VIP events, hotel accommodation, spa, resort booking, etc. All these must be agreed upon and approved together with the rental offer.