The REAL Cost of Owning A Private Jet

if you've ever found yourself in a middle seat on a cross-country flight fighting tooth and nail with the sick person beside you for the armrest then you know what a pain it is to fly commercial sure you end up where you're going if you're lucky but do you actually enjoy the journey sitting all the way back in 42e for some flying is a luxurious experience you can sail high above the clouds in a plush leather seat making conference calls and whisking yourself off to an exotic destination if you have a private jet that is a private jet is one of the first investments I truly made once I made a name for myself and I can happily say I don't regret it I haven't fought over an armrest or a bag of peanuts in years but I can't deny there are a few drawbacks a few very very large financial drawbacks today we're going to take a look at how much a truly cost to own a private jet I'll even include how much it costs yearly to fly and maintain the private jets that I earn so what exactly do you have to do to maintain a private jet once you buy the actual plane private jets aren't a one and done situation you have to pay for every takeoff every landing every bag of peanuts and bottle of wine then I'll rent fees where you have to pay whenever your plane has a layover there are landing fees which vary from 100 to 500 bucks where you have to pay for every single landing your plane makes there also hangar fees which cover the cost of parking your plane in a hangar after all if you've spent 100 million dollars on your plane chances are you're not going to want it sitting out in the rain on average hangar fees land around 81 thousand dollars per year if you want your plane part and ready to go at a hop an airport like LAX they charge up to $12,000 per month adding up to a staggering 144 thousand dollars per year of course flying is considered a rather dangerous endeavor so you'll need insurance and not just one kind all insurance which covers damage to the plane and all of its systems runs around $34,000 per year on top of that if you're the owner of the jet you'll need single liability insurance which tacks on another fun free of 12 half thousand dollars that's not even mentioning fuel costs which vary from plane to plane but can cost as much as fifty three thousand dollars for a single fill if you're keeping track so far our expenses are steadily climbing to a fairly high altitude now sure the plane is important but unless you're a pilot you're going to need a crew and you're going to have to shell out quite a bit of money to keep them around on average you can expect to pay about two hundred and fifteen thousand dollars per year for a pilot copilot and two flight attendants you have to pay overnight fees for your crew which include launching transportation and food if you're planning on staying at a destination for a while you can send your crew back to your home base that'll cost you will repositioning fee on top of all these and necessary fees there are a few random out layers that go with operating such a complex piece of machinery if you're flying from Cuba to Florida in the middle of December looking to escape to a warmer climate you'll have to pay a de-icing fee before your wheels hop off the tarmac if something goes wrong with your jets you can look at paying as much as sixty thousand dollars for a new windshield or eight thousand dollars for a new tire in other words cross your fingers and hope that you're flying from a warm destination to a whole nest ination with no repairs in store now let's get down into the nitty-gritty the price difference between aircraft the most common private jet in the world is this Cessna Citation XLS a small firecracker of a jet they can seat eight people along with four crew members the Cessna is a bit dated but it's often upgraded and fitted with all new tech and luxurious touches buying an updated Cessna will cost you around 14 million dollars if you want to buy a 10 year old basic model it'll run you about four million dollars if you're flying around 200 hours per year that's enough to jet from LA to London about 15 times it'll cost you around eight hundred and five thousand dollars to maintain the plane that rounds out to about ten dollars and 15 cents per mile but maybe you want something a little nicer than an old Cessna Citation XLS maybe you want something luxurious like the Gulfstream 650 I can't say enough about this plane which is actually the one I decided to purchase years ago this jet has a lounge area with a sofa and a flat-screen television that pops out of a credenza the credenza also has an added bonus a wine cabinet where chilled bubbly awaits in my case it's normally a nice white wine there's also a dining room in a private state room where a couch folds out into a double sized bed for being 30,000 feet above the ground the bed is fairly comfortable and I've had my fair share of nights in the mile-high club I have many lovely memories on my Gulfstream g650 but that hasn't come without investing a fair share of my money into it it costs about 1.6 million dollars a year to operate the Gulfstream to fly 200 hours per year which is around my average the feel alone costs almost a half a million dollars when you factor in how much the plane cost of purchase in the first place around sixty five point five million dollars you're talking about a lot of money of course don't have to buy a plane you can charter one instead before I took the plunge and bought my Gulfstream I was chartering jets almost every other weekend and it doesn't come cheap if you're chartering a small plane you can expect to pay between two thousand to three thousand dollars per hour the Cessna Citation which is considered a mid-sized plane costs around ninety five hundred dollars per hour but the Gulfstream will cost you around $13,000 per hour if you're flying from New York to London every week you're going to be racking up some pretty hefty chartering rates all in all the world of private jets is an exciting enticing luxuries and downright expensive one what do you think of the costs of owning and operating private jets would you prefer to buy alright let me know in the comments down below as always thanks for watching if you enjoy the video make sure to leave a like and subscribe mr. luxury pip-pip to doodly-doo you

Channel: Mr. Luxury

Views: 1,743,976

Rating: 4.768127 out of 5

Keywords: private jet, expensive private jet, real cost private jet, private jet cost, most expensive, billionaire, airplane, gulfstream, inside private jet, luxury private jet, tour, interior, costs, viral, new

Id: WgLGtudkCHA

Length: 6min 29sec (389 seconds)

Published: Wed Mar 18 2020