Owning a private jet. What expenses are expected?
Jan 15, 2023
Buying a private jet is just the beginning of the cost; In this article, we have compiled hidden commissions and expense items.
Owning a private jet is a very expensive pleasure. If this is your first time buying, you may not be aware of the hidden fees associated with ownership.
The best way to determine how much you'll incur for owning and maintaining a used private jet is to lean towards the professionals in buying and selling a jet business, which may fit the pattern for you depending on the brand and model you envision.
In the set you will find different categories of builds that you need to be aware of, even if you need to hire a personal aircraft assistant or a management company to handle all the parts for you.
The purchase price of delayed aircraft.
First-time buyers are more likely to buy a private jet than to claim a new aircraft directly from the manufacturer. This choice alone can save you dollars or euros, depending on the new value of the custom shape.
Used private jets are sold at different prices, depending on the category of collection they belong to, as well as the number of hours flown, whether the aircraft has been updated, by age, how and where it was serviced, whether it was used and much more. Keep in mind that if you are buying a fully used private jet, you may need to set aside funds for avionics or engine upgrades, depending on their age, condition, and technology. In any case, retrofitting is costly and simply stated.
Aircraft maintenance costs
Just as the purchase price depends on many factors, so do maintenance costs and load dependency on many points. As a rule, the more aircraft, the more it does without protection and operation.
This increase is partly due to the average fuel consumption that is used by large private jets, but they are also specialized and trained crew and you do not pay wages for your crews and their hotel accommodations, but train them if you recruit your crew rather than taking freelance.
Your maintenance plan includes fees and you need to be vigilant about paying them to keep your aircraft in good condition. The maintenance plan also finds that your aircraft is found to be in good condition, meaning that it is more likely to have a higher resale value than aircraft with poor maintenance.
To operate your presence in the airspace, you may need various paid subscriptions and software and navigation updates, avionics system maintenance, insurance, engine warranties, etc. It is very expensive and becomes more expensive every year. Therefore, if you fly often, then be prepared to fly a lot.
Modernization of used aircraft equipment
If you own an old private jet, it might be time to upgrade your avionics, satellite navigation and cabin management system. But you can calculate hundreds of thousands of dollars.
Insurance that adds value to owning an individual aircraft
Owners of private jets must have a variety of insurance policies, including liability insurance with a single limit and insurance. Your car insurance depends on the make, model, age, and features of your car, just like your aircraft-related policies.
Expect insurance premiums to cost you tens of thousands of dollars a year, but the aviation insurance company must work with you to determine which policies you are required by law to have. Consider contacting insurance companies recommended by the International Aircraft Dealers Association.
Just landing at the airport costs a lot of money
Any landing and landing at any airport costs a round sum. The cost depends on the size and size of those services that are often used at the airport. Toilet treatment, system water injection, body heating, interior washing or dry cleaning, nitrogen filling of wheels, oxygen system filling, onboard catering, fuel, apron crew delivery, hull towing, full de-icing treatment (in winter), FBO supervisor work, air navigation and much more. All this can be from 4,000 to 70,000 euros, depending on the category, mass and quantity of fuel required and the processing of reagents collected.
FBO is the airport ground handling organization required for your aircraft upon arrival. It also offers amenities for your crew and passengers such as a VIP terminal and a crew lounge. The prices for these services vary.
The cost of owning a private jet is not cheap, but for frequent travelers it is well worth it. Once you have decided on the size and type of aircraft and the amenities you need, you can begin to select and evaluate the aircraft. Our specialists will select the best option, check all the documentation for the aircraft, and carry out a technical inspection with the help of our professional aviation engineers. This is not a quick, but very necessary process that will save you many unexpected problems in future aircraft ownership.
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