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How Much Does it Cost to Buy a Private Jet?

One of the biggest luxuries in life is travel. And if flying private is the icing on the cake, then owning your own plane is the cherry on top. However, it’s not as easy as buying a car and driving it straight out of the showroom. There are countless expenses, legal procedures and maintenance costs that need to be taken into account. If, however, you are flying more than 350 hours per year, the costs and issues in owning your very own private jet are usually justified. Here at Luxwing, we currently have a fleet of 11 planes, and we’ve used that experience to help others in getting the best deals when purchase planes too! So if you need some help finding a plane and getting through the process, give us a call, and we’ll help find you the plane of your dreams.

The price to purchase for a private jet varies tremendously. If you’re looking at new jets, then small planes which can hold around 8 passengers range between $3 million – $8 million. Whereas a large plane which can hold up to 12 passengers and travel more than 4,000 miles may cost anything up to $45 million dollars.

Alternatively, a second hand plane is always an option, but with that come several issues you should be aware of. Although the plane can cost considerably less, second hand jets often run up hundreds of thousands of dollars in repair bills, especially if they aren’t yet meeting all of the industry regulations. This can ground your bargain plane for months, and the problems are likely to keep popping up regularly. On the other hand, new planes are normally sold with a 5-year warranty, which although doesn’t cover your day-to-day wear and tear, is certainly a welcomed benefit. This is not to say that buying a second hand jet is a bad idea, it’s just good practice to have an expert on hand to make sure you’re getting what you pay for.

After finding the perfect plane, you’ll probably want to look at adding a few personal touches, and depending on budget the world is your oyster. From solid gold showers and hot tubs, to dining rooms and movie theatres. There is little designers can’t do nowadays. However, a full interior overhaul by a professional designer will set you back a hefty $85 million! If instead, you decide you don’t need so many premium fixtures, a simpler interior revise stars at around $750,000.

The last step in purchasing a private jet is keeping it running, which is in no means to be underestimated! Insurance, fuel, catering and pilots can cost over $150,000 per year! There are then the costs of aviation lawyers who will help with the purchase, and of course the logistics of finding and selecting your crew and pilots, plane maintenance, coordinating flight schedules and parking the plane when it’s not in the sky. It’s an impossible job to do on your own. Thanks to our years of experience, Luxwing are well versed in all these operations, and help many clients daily with the management of their private plane – Helping to make sure that everything runs smoothly and is always ready for a last minute departure!

If you’re interested in getting your foot on the aviation ladder, give us a call and discover how we can help you in buying you your very own jet and managing it on and off the ground. Alternatively, we can give you the VIP treatment through chartered planes, meaning all the perks without the drama. If you’re looking for motivation, have a look at our article on the top 6 most expensive jets where number one costs a whopping half a billion dollars!

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