(Newswire.net — September 12, 2019) — Owning a private jet can be a very expensive endeavor. A brand new private jet will cost anywhere between $3 million and $90 million. A second-hand jet costs less but will still range in the millions. The most expensive jet is the Gulfstream G-650, which costs about $70 million without customization. Maintenance and repair costs range from $700,000 to $4 million a year, depending on the size of the plane. Filling up a tank will cost about $53,000 but this depends on the size of the tank. This piece explores the various types of jets and prices.
Types of Private Jets and Prices
There are about 11,000 private jet owners in the US only. Renting a jet costs between $2,000 and $9,000 an hour, which is far more expensive than flying commercial when you’re looking to fly anywhere. The different types of private jets to choose from and how they work include the relatively new VLJs or Very Light Jets, light and mid-sized jets, heavy jets and executive airliners.
Very Light Jets
They are new to the market and are cheap to run. They require a shorter runway compared to other jets and are used for personal activity and as air taxis. They are an alternative to the turboprop and piston aircraft for short journeys on a budget. The Cessna Citation Mustang, Eclipse 500 and Embraer Phenom 100 are examples of very light jets. Some of them come with lavatories while others do not. It will cost about $1.5 to $3.5 million to purchase a jet in this category.
Light and Mid-Sized Jets
They are mostly used for business travel as they are cost-efficient and very comfortable for short journeys as they can land in more areas. They can carry about 8 passengers with different hold-size choices. They come equipped with lavatories and like VLJs they do not have flight attendants. Examples of light jets include the Cessna Citation CJ4, the Hawker Beechcraft Premier 1A and the Dassault Falcon 10. Mid-sized jets on the other hand are used for both short and long journeys. They are more cost-effective compared to heavy jets. The Embraer Legacy 500 and the Hawker Beechcraft 800XP come with a flight attendant and full standup cabins. Mid-sized jets also have enclosed bathrooms, divans that can fold out and luggage compartments with adequate space. Super midsize jets are bigger and can travel further than regular midsize jets and go for $23 million on average. Examples include the Bombardier Learjet 35 and Bombardier Learjet 60XR as well as the Cessna Citation Sovereign.
Heavy Jets
Heavy jets are classified into two; the standard heavy jets and the ultra-long heavy jets. The main difference is that the ultra-long ones offer more luxury and comfort compared to standard ones. The Bombardier Challenger 604 and Gulfstream GIV are examples of standard heavy jets while the Bombardier Global 6000, the Dassault Falcon 7X and Gulfstream G550, are ultra-long range heavy jets. All heavy jets come with a flight attendant, stand up cabins and bathrooms and can accommodate a good number of passengers and luggage and are very safe. A standard heavy jet goes for about $25.9 million, while an ultra-long-range heavy jet is priced at about $64.5 million.
Executive airliners are more luxurious. Conference centers, complete bedrooms and dining areas are some amenities that come with these jets when you’re flying at a cruising altitude.
Bottom Line
When looking at the types of private jets and prices, consider the category of the jet and the amenities that come with it. If the prices are too high, there is always the option of joining flying clubs that let passengers rent a seat instead of the whole plane.