Private Jet Charter vs Ownership Costs: Pros, Cons, and Price Differences

Flying private may offer unmatched comfort, but it is the costs that raise questions. Ownership requires making a large investment before you ever take flight. And the costs don’t stop there. Storage, maintenance, replacement parts, insurance, and more all have to be covered throughout the year. Charters give you a transparent quote on the perfect jet from a fleet to meet your needs. The charter company handles the rest. 

Flying private is often seen as the epitome of comfort and convenience, though there is more than one way to reap this reward. You can either own a jet or charter one. Those who are used to chartering jets often question whether they would save money by investing in their own. And those who have never traveled via a private jet don’t realize how accessible they can be with the right charter company. 

To clear up all the confusion, this article breaks down the pros, cons, and price differences of private jet charter vs ownership costs. 

Private Jet Charter vs Ownership Costs: A Clear Comparison

Costs aside, is there really much difference between chartering and owning a private jet? The biggest differences are access to jet and responsibility. When you charter, you are paying for the experience and perks of a private flight without any long-term commitments. Owning, on the other hand, requires a significant investment. The aircraft will become your asset—along with all the responsibilities and obligations that come with it. 

Deciding which is best for you may come down to how often you fly, where you fly, and how much flexibility you want. And, of course, cost is always a big factor. Is buying a jet going to be worth the investment? Or do you book enough charter flights that it would be worthwhile to have your own? 

Let’s break it down.

Private Jet Charter vs Ownership Costs: The Real Cost of Owning a Private Jet

Owning a jet requires a substantial payment upfront, but there are many factors to consider. For reference, light jets often run between $3 million and $8 million, while midsize jets fall in the range of $8 million to $15 million. Heavy jets often start around $20 million and can cost upwards of $65 million. Pre-owned aircraft may come with a discount, but their cost is still high, not to mention that they require extensive inspections, upgrades, and legal reviews before they can take flight. 

Operating Costs

Here’s where things get real. The costs involved in buying are much greater than just the initial price tag. The list of ongoing operating costs can be extensive, and it is here that most owners find themselves questioning whether they made the right choice. 

Below are a few of the most common annual operating costs: 

• Flight crew salaries and benefits
• Training and certification
• Fuel
• Routine maintenance
• Inspections
• Part replacement
• Repairs
• Hangar or storage fees
• Insurance
• Navigation and landing fees

It is rumored that, on average, owners can expect to pay between $2 million and $5 million in fixed and variable costs annually. And that doesn’t even include the cost of actually using the aircraft for travel. 

Depreciation and Market Risk

A few other things to consider are the depreciation and market risk associated with such a large purchase. Just like automobiles, aircraft are also assets that depreciate, but on a much bigger scale. In other words, it will lose value over time. This may not be the best decision for your books. 

In addition, market demand can change instantly. This, coupled with advances in aviation technology, can significantly impact its resale value. Should you ever decide to sell, you may find that it takes months and maybe even a few price reductions to attract buyers. 

It is safe to say that ownership keeps your capital tied up in an asset that may not always provide the ROI you are used to. This is quite different from chartering, which requires no financial risk. 

Private Jet Charter vs Ownership Costs: The Real Cost of Chartering a Jet

Chartering an aircraft allows you to have flexibility without the heavy weight of responsibility. You can pay per trip or per flight hour without long-term commitments. For instance, you can reach your destination and go about your business without any care as to how or where the jet will be stored or maintained. 

The hourly rates for a jet can vary depending on the size and type of aircraft. For example, you can pay between $2,000 and $2,600 per hour for a very light jet, $3,300 to $4,100 per hour for a midsize, or $5,500 to $9,000 per hour for a heavy jet. 

When you charter your aircraft, you don’t have to worry about anything behind the scenes. Hangar fees, flight crews, training and certifications, repair bills, maintenance schedules, and the like are all handled by the charter company. All you have to do is show up a few minutes before your departure. 

Biggest Charter Perk: Flexibility

Owning an aircraft means you own a specific jet, and you are locked in. Chartering gives you options. If you need a small aircraft for a quick regional weekend trip? No problem. Flying coast-to-coast with a large group? Again, no problem. 

At The Early Air Way, we have a fleet of jets that will meet your travel needs, pertaining to the number of passengers, range, and more. It’s like always having the perfect aircraft at your fingertips. 

Private Jet Charter vs Ownership Costs: Who Benefits From Each Option?

Some travelers will benefit from a charter while others are better off making the big investment. So who benefits? Which one is best for you? 

If you fly more than 300 hours per year with consistent routes and want a plane with outside branding, ownership may be your best option as long as you have the infrastructure to manage it. For those who may fly regularly but prefer flexibility without any asset management responsibilities, chartering is a good fit. 

Feel Empowered with The Early Air Way

Private aviation should be welcoming, whether you have dreamed of owning a jet or just want to travel on one. The more you understand the real, underlying costs of each, the easier it will be to control your next move. 

And, if freedom, flexibility, and financial clarity are what you seek, we are here to offer you a charter. Contact us today for a personalized, transparent quote and see just how effortless private travel can be when you don’t have the burden of ownership.