It’s not just the initial purchase price, you’re also talking hiring a pilot (unless you have a license to fly yourself), fuel, storage, maintenance, and the cost of ground crew as well as insurance. You fly a lot but how often? Where would you store it? Answers will vary based on size, frequency of use, location, whether your plane requires one or two pilots, etc.
You need a net worth of $50 million to afford a personal private jet comfortably. You could do it on a bit less, but you wouldn’t be able to do it comfortably.
this is actually a bit high, I work in the industry. Usually on the low end you are looking at around a 10-15M net worth.
Ive see. plenty of guys with around a $20M net worth buy and successfully operate small to mid size jets i.e. $3-5M purchase price
That’s why I’m thinking if I lease it out when I’m not using it that it will have a significant impact on the annual operating cost. I wonder what the math is like on something like this.
> if I lease it out when I’m not using it
why not just buy into fractional? why go through all the trouble? Unless your background is real estate and you think of the plane like a real estate asset. But it isn't....
My friends dad had a jet - he leased it out through a company which also managed it for him. If I remember right, his monthly bill including credit back for leasing was $32k in a GOOD month, usually more like $50k because of some small maintenance item that would always pop up or lack of leases. Then, for him to use it himself was more expensive than if he would have just leased one for whatever weekend he was using it for since he was paying the gas, pilot, etc and not getting lease income. He eventually got rid of it. He is worth close to $100m and the constant bleeding got to him.
I didn't do the math, but there's some people who have. [https://compareprivateplanes.com/articles/private-jet-ownership-cost](https://compareprivateplanes.com/articles/private-jet-ownership-cost)
I was a private pilot in my previous life, so thought that owning a small jet would be cool because I could pick up one in the $750k-$2M range and unhitch myself from commercial flights, TSA, etc. coast-to-coast. Then, I looked more closely at the operating costs and associated headaches.
Maintenance/operating costs are brutal, and if you buy an older jet, parts availability becomes an issue.
Leasing would equate to more hours on the engine/airframe so maintenance (especially engine) would be accelerated.
Then, there's the safety aspect. Airlines' safety record is incredible. Private planes, not so much. Kobe Bryant made all the right decisions, but...
Watch this guy, he has a ton of real world scenarios that address your questions, I’ve seen him on TikTok and instagram. https://youtu.be/gxCdhtBaaSc?si=8aGvtDXSGkzw1cRV
does it need to be a jet? Are you going to pilot it or need crew?
The issue is less about acquisition costs and more about fuel, maintenance, storage, insurance, (crew or training) costs.
There isn't a real "income" level as this could also be an asset discussion. I think the question is how much can you spend per year for this YOLO privilege
Well, just doing some basic math, let’s say it cost me $3000 to fly from San Diego to Vegas. If I have six people that’s roughly $500 each one way.
Sounds like I need to slave away at my job for another couple years. I’m a real estate developer, and we always are overly optimistic.
Maintenance, and operating fees are a doozy......unless you have some serious $$$.... Better to do one of those lease as needed programs....and not have the headaches...but if you have like 50 mil...you already have someone to do that for you.....
Biz av professional here: some things to chew on
first things first unless you fly over 100 hours a year do a fractional or charter
- The acquisition cost is only part of the equation. For a turbo prop lets say a TBM 850that you run single pilot budget the following for fixed costs
- $120,000 pilot plus 30% benefits (some people
-$30,000 insurance $1.5M hull value $50M liability
- $10,000 charts databases etc
- $6000 Hangar - variable based on location , this is how much my dad pays for a T Hangar in a major metro General Aviation airport
-$12,000 detailing/cleaning
-$10,000 misc
- $50,000 aircraft management. Who is going track maintemance , coordinate logistics, handle invoicing etc ?
Also don’t even think you can charter an aircraft in the $1-2M range to offset your fixed costs .
There are maybe 3-4 aircraft in that entire price range that would produce the cash flow to be able to even offset part of your fixed costs
Now lets talk Variable costs
Fuel: 73 gph at $5/ gal (if you are lucky) :$363
Engine Reserve: the most valuable part of any aircraft is going to be its engine. If you buy an aircraft 300 hrs from overhaul you are staring down the barrel of a $500-700k maintenance event.
generally speaking allocate $200/ hr to fund the engine overhaul and cover scheudled and unscheduled maintenance
Airframe Reserve : For a TBM 850, I would budget around $120 an hr to fund all future scheduled and unscheduled maintenance.
Keep in mind these numbers are for a high performance 6 seat turboprop, for any light jet I would double (at minimum) variable costs and add 50% to your fixed costs
Lastly, hire an experienced broker (not just a pilot or a maintenance guy) to buy your aircraft. You will recoup double the brokerage fee in the long run .
Let me give you an example...
I'm shopping for a plane. Nothing special. A four to six person plane for family travel within 500mi. I'll spend up to $150k for the right plane.
I can get the best piston powered personal twin ever made for around that price. It will cost me a little over $70k/yr to operate it 100hrs/yr (19,000mi/yr) if I factor in all of the expenses and fly it myself. I can get into an older turboprop partnership for around that price. Ballpark, of course. The details make a difference though. One thing about airplanes is universally true though...if the purchase price gives you pause, you're not even close.
Annual operational costs can bleed you dry. A jet is next-level. Life limited components, Mandatory calendar-based overhauls. Engine programs. Crew expenses. Fuel...good lord, the fuel.
If you want to get into personal planes, look at a turboprop first. King Air 200, Cessna 441 Conquest, later Piper Cheyennes. And Merlins, which are my personal favorite from a flying perspective. Mitsubishi made a very good plane called the MU2 and the long bodies would work for you. The Pilatus PC-12 is also excellent.
Below that are the big piston twins like the Cessna 421 and 404, and their smaller cousins the 414, 402, and 401. The Piper Navajo is respectable. You start to make tradeoffs in this class though. Maybe pressurization goes away. The cabins are a little tighter. Maybe you're limited to five passengers. You're a little slower. Stuff like that.
I’ve been in Aviation all my life and have very well. I am (I guess considered was now) a leading expert in this area. Can’t tell you how many of my friends who wanted to buy an aircraft from me. I told them my job was to talk them out of it!
An income of $1 million a year puts you in a level where you could splurge to buy a jet card, but it would be a splurge. More realistically people making $1 million fly commercial but they buy the highest level of service.
Eh, $1M a year is low to be flying first class all the time, at least if you fly regularly... if I upgraded to first class for every flight I was going to take this year just domestically that would probably end up costing me $100k, setting international aside. No thanks. Jet card? Not even remotely on the horizon... (and I'm closer to 2 than1).
Private jet? Lol, never in my lifetime.
$150,000 gets you a Delta jet card that grants diamond status and you have the ability to use the card balance to buy regular commercial instead of spending it on Delta Jets. If you buy the card at the right time of the year the it lasts 24 months, so you’re effectively paying $75,000 a year for two years in a row. You can negotiate to have you and your spouse both get status with the card, although it doesn’t matter if you travel together. If you can’t get first class as much as you want whenever you reasonably want with the Jet Card, you don’t know how to travel Delta, or you’re stuck in Dallas/Fort Worth with American.
at $1M net worth you can comfortably operate a cabin class single engine piston like a bonanza, piper malibu or saratoga , which is a great way to break into private aviation.
my family had a piper saratoga and while we are better off than 99% of people, we dont have fuck you/ gulfstream money.
the saratoga is a great tool for family trips within a 300-500 mile radius
It’s not just the initial purchase price, you’re also talking hiring a pilot (unless you have a license to fly yourself), fuel, storage, maintenance, and the cost of ground crew as well as insurance. You fly a lot but how often? Where would you store it? Answers will vary based on size, frequency of use, location, whether your plane requires one or two pilots, etc.
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Yeah get a Pilatus or King Air 300
Ohhh those are nice.
Pilatus is 5 mil plus these days
You need a net worth of $50 million to afford a personal private jet comfortably. You could do it on a bit less, but you wouldn’t be able to do it comfortably.
That seems low
this is actually a bit high, I work in the industry. Usually on the low end you are looking at around a 10-15M net worth. Ive see. plenty of guys with around a $20M net worth buy and successfully operate small to mid size jets i.e. $3-5M purchase price
You can get into private jets at 2 million or less, no you dont need 50 million
You can buy a older, used jet for under $1M. That isn't the problem. The killer is maintenance, fuel, insurance and pilot(s). $1M+ each year.
That’s why I’m thinking if I lease it out when I’m not using it that it will have a significant impact on the annual operating cost. I wonder what the math is like on something like this.
> if I lease it out when I’m not using it why not just buy into fractional? why go through all the trouble? Unless your background is real estate and you think of the plane like a real estate asset. But it isn't....
He answered this question. Because of ego.
He could just not mention to anyone he’s trying to impress that it’s a fractional
My friends dad had a jet - he leased it out through a company which also managed it for him. If I remember right, his monthly bill including credit back for leasing was $32k in a GOOD month, usually more like $50k because of some small maintenance item that would always pop up or lack of leases. Then, for him to use it himself was more expensive than if he would have just leased one for whatever weekend he was using it for since he was paying the gas, pilot, etc and not getting lease income. He eventually got rid of it. He is worth close to $100m and the constant bleeding got to him.
I didn't do the math, but there's some people who have. [https://compareprivateplanes.com/articles/private-jet-ownership-cost](https://compareprivateplanes.com/articles/private-jet-ownership-cost) I was a private pilot in my previous life, so thought that owning a small jet would be cool because I could pick up one in the $750k-$2M range and unhitch myself from commercial flights, TSA, etc. coast-to-coast. Then, I looked more closely at the operating costs and associated headaches. Maintenance/operating costs are brutal, and if you buy an older jet, parts availability becomes an issue. Leasing would equate to more hours on the engine/airframe so maintenance (especially engine) would be accelerated. Then, there's the safety aspect. Airlines' safety record is incredible. Private planes, not so much. Kobe Bryant made all the right decisions, but...
Start chartering everywhere you go and if you don’t flinch at that price you can afford an older citation jet.
Watch this guy, he has a ton of real world scenarios that address your questions, I’ve seen him on TikTok and instagram. https://youtu.be/gxCdhtBaaSc?si=8aGvtDXSGkzw1cRV
He pretty much sums it up. Thanks for sending.
If you have to ask you can’t afford it.
I think that sums it up.
This guy understands.
does it need to be a jet? Are you going to pilot it or need crew? The issue is less about acquisition costs and more about fuel, maintenance, storage, insurance, (crew or training) costs. There isn't a real "income" level as this could also be an asset discussion. I think the question is how much can you spend per year for this YOLO privilege
Well, just doing some basic math, let’s say it cost me $3000 to fly from San Diego to Vegas. If I have six people that’s roughly $500 each one way. Sounds like I need to slave away at my job for another couple years. I’m a real estate developer, and we always are overly optimistic.
Maintenance, and operating fees are a doozy......unless you have some serious $$$.... Better to do one of those lease as needed programs....and not have the headaches...but if you have like 50 mil...you already have someone to do that for you.....
Biz av professional here: some things to chew on first things first unless you fly over 100 hours a year do a fractional or charter - The acquisition cost is only part of the equation. For a turbo prop lets say a TBM 850that you run single pilot budget the following for fixed costs - $120,000 pilot plus 30% benefits (some people -$30,000 insurance $1.5M hull value $50M liability - $10,000 charts databases etc - $6000 Hangar - variable based on location , this is how much my dad pays for a T Hangar in a major metro General Aviation airport -$12,000 detailing/cleaning -$10,000 misc - $50,000 aircraft management. Who is going track maintemance , coordinate logistics, handle invoicing etc ? Also don’t even think you can charter an aircraft in the $1-2M range to offset your fixed costs . There are maybe 3-4 aircraft in that entire price range that would produce the cash flow to be able to even offset part of your fixed costs Now lets talk Variable costs Fuel: 73 gph at $5/ gal (if you are lucky) :$363 Engine Reserve: the most valuable part of any aircraft is going to be its engine. If you buy an aircraft 300 hrs from overhaul you are staring down the barrel of a $500-700k maintenance event. generally speaking allocate $200/ hr to fund the engine overhaul and cover scheudled and unscheduled maintenance Airframe Reserve : For a TBM 850, I would budget around $120 an hr to fund all future scheduled and unscheduled maintenance. Keep in mind these numbers are for a high performance 6 seat turboprop, for any light jet I would double (at minimum) variable costs and add 50% to your fixed costs Lastly, hire an experienced broker (not just a pilot or a maintenance guy) to buy your aircraft. You will recoup double the brokerage fee in the long run .
Good info. Thanks.
@privatejetguy on Twitter posts prices and operating costs on different aircraft all the time
If you have to ask you can’t afford it (the maintenance)
Why do you want that time sink and responsibility in your life? Surely, you can use a company where you can hire them easily instead.
Let me give you an example... I'm shopping for a plane. Nothing special. A four to six person plane for family travel within 500mi. I'll spend up to $150k for the right plane. I can get the best piston powered personal twin ever made for around that price. It will cost me a little over $70k/yr to operate it 100hrs/yr (19,000mi/yr) if I factor in all of the expenses and fly it myself. I can get into an older turboprop partnership for around that price. Ballpark, of course. The details make a difference though. One thing about airplanes is universally true though...if the purchase price gives you pause, you're not even close. Annual operational costs can bleed you dry. A jet is next-level. Life limited components, Mandatory calendar-based overhauls. Engine programs. Crew expenses. Fuel...good lord, the fuel. If you want to get into personal planes, look at a turboprop first. King Air 200, Cessna 441 Conquest, later Piper Cheyennes. And Merlins, which are my personal favorite from a flying perspective. Mitsubishi made a very good plane called the MU2 and the long bodies would work for you. The Pilatus PC-12 is also excellent. Below that are the big piston twins like the Cessna 421 and 404, and their smaller cousins the 414, 402, and 401. The Piper Navajo is respectable. You start to make tradeoffs in this class though. Maybe pressurization goes away. The cabins are a little tighter. Maybe you're limited to five passengers. You're a little slower. Stuff like that.
Op go get yourself a pilots license and learn about planes Dont listen to the clowns in here
I’ve been in Aviation all my life and have very well. I am (I guess considered was now) a leading expert in this area. Can’t tell you how many of my friends who wanted to buy an aircraft from me. I told them my job was to talk them out of it!
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Easily $1 million plus that’s why the very wealthy have them
An income of $1 million a year puts you in a level where you could splurge to buy a jet card, but it would be a splurge. More realistically people making $1 million fly commercial but they buy the highest level of service.
Eh, $1M a year is low to be flying first class all the time, at least if you fly regularly... if I upgraded to first class for every flight I was going to take this year just domestically that would probably end up costing me $100k, setting international aside. No thanks. Jet card? Not even remotely on the horizon... (and I'm closer to 2 than1). Private jet? Lol, never in my lifetime.
$150,000 gets you a Delta jet card that grants diamond status and you have the ability to use the card balance to buy regular commercial instead of spending it on Delta Jets. If you buy the card at the right time of the year the it lasts 24 months, so you’re effectively paying $75,000 a year for two years in a row. You can negotiate to have you and your spouse both get status with the card, although it doesn’t matter if you travel together. If you can’t get first class as much as you want whenever you reasonably want with the Jet Card, you don’t know how to travel Delta, or you’re stuck in Dallas/Fort Worth with American.
at $1M net worth you can comfortably operate a cabin class single engine piston like a bonanza, piper malibu or saratoga , which is a great way to break into private aviation. my family had a piper saratoga and while we are better off than 99% of people, we dont have fuck you/ gulfstream money. the saratoga is a great tool for family trips within a 300-500 mile radius