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11-11-2013, 11:32 PM #1
What goes into owning an aircraft?
I hope own something like a G150 or G200 one day, but always wondered what goes into it. Airport storage? Insurance? Fuel? I hope not to look like a complete noob, but guess what I am haha"Remember who's putting bread on whose table"
11-11-2013, 11:38 PM #2
Conklin & de Decker
11-12-2013, 12:02 AM #3
To put it lightly, its all very expensive, especially for jets. It's said that for every hour in the air, a jet needs 3 hours of maintenance. I worked in a jet maintenance facility as my first job, and seeing the cost of repairs of the simplest parts is out of this world. But thats only one aspect of owning a jet. Your annual fixed cost will be paying all your pilots (~$200,000), crew training (~70,000), hangar (~50,000), insurance (~50,000), air craft maintenance (~25,000). And thats just your fixed cost.
You also have hourly costs for maintenance, which is anywhere around $700 an hour for APU/engine maintenance, and a bit less for airframe per hour, not to mention annual inspections. You also have a couple thousand per hour to pay for fuel, which holds, according to google, 2204 gallons. With jet fuel at about 5.90 per gallon right now thats $13k to fill her up. These are all rough figures but you get the jist.
Not to mention forking out the $10 million dollars to buy it in the first place.
You can partial own a jet which brings down costs, or just charter one. Or save millions and fly delta.
Last edited by Flyinglakland; 11-12-2013 at 12:44 AM.
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11-12-2013, 12:29 AM #4
You can't really think cost very much when flying private, it is extremely high (around $8-11 per mile assuming 200 annual hours in a super midsize jets like the G250). Unless you have a company that makes multi-million dollar decisions via short notice in-person meetings, need specific teams at an exact location in a short time, or have multiple 500 mile stops to make in a day, a private jet like the Gulfstream G150/G200 isn't really a realistic option. Flyinglakland did a fantastic job of some cost break downs. However when you get to the true point of purchasing a private jet, you will have a team of lawyers, accountants, brokers, and aircraft managers to help with the decision and who will handle the details.
Its a great dream, but you first should focus on a business that can get you to the point of considering a private jet as a business asset. They typically have many millions of revenue (not sure what the exact number is, but I'm sure its well north of $50 mil), also typically companies start to charter/fractional own before purchasing to see how the asset benefits the company.------
The only place where success comes before work is in the dictionary
08' X5 4.8i
11-12-2013, 02:27 AM #5
Thanks for all the responses! My curiosity wasn't really stemming from a financial standpoint, as I am well aware of the millions. My questions more so were directed toward the actual ownership process. As I saw from the website posted above, there are companies that can take care alot of this, as I expected, which is awesome. It is a great dream, as you said, but will be a reality for me. Preowned G150's start at around 7 million, which I don't find to be obnoxiously expensive (even as a poor medical student who's launched several start ups! haha) But thanks can't wait for more input."Remember who's putting bread on whose table"
12-24-2013, 05:30 AM #6
"If it floats, flies, or f____, it's cheaper to rent..."
12-24-2013, 05:43 AM #7
Get a helicopter, I bet it would be way more fun. I really want to get a license to fly one2012 Maserati Granturismo (Bianco Elderado) - August 3, 2012
2008 Corvette C6 Such supercharged. Much fast. (Arctic White) - December 20th, 2013
2008 Bmw M3 (Melbourne Red) SOLD - July 2nd, 2012 - December 20th, 2013
2010 Camaro 2SS (600rwhp) SOLD - June 19, 2010 - August 3, 2012
12-24-2013, 11:17 AM #8
The new G650's are 65 million. Or you can buy a honda jet for 3.5"HEY Panda, we don't take too kindly to your types around here!" "Now skeeter, they ain't hurtin no body"
“Jessie, you asked me if I was in the meth business or the money business. Neither. I'm in the empire business.” –Walter White
"Act as if... " - The boiler room
12-24-2013, 11:22 AM #9
check out what2fly.com you can fly in a light jet (beech jet or citation cj1) for between $2.50/mile to $3.00/mile...We have actually been looking into this recently as we occasionally rent and our travel within our company has been streamlined as of late. Basically the process is like buying anything else but you have to have someone who manages the aircraft for you. Maintenance, Pilots, Scheduling. The biggest benefit is renting it out when you're not using it. The more you can get the aircraft in the air for others the less it's going to cost you to use it. However as stated above it is very rare that it can be worth the cost unless you are losing $6 to 7 figure digits when your key employees are using commercial air travel. I use it when I feel it's worth it to have the added convenience. Careful though..the first time you do it you won't ever want to travel commercial again
12-24-2013, 01:49 PM #10