Annual Cost for Private Jets
Ever wonder how much businesses spend on the annual cost for a private jet?
A private jet, also known as a business jet, is an aircraft designed to transport people in the privacy of a generally a small jet without any additional passengers.
These days the President is not the only one flying around in Air Force One, but VIPs such as CEO, celebrities, sports teams, or just anyone else who can afford it are upgrading their methods of transportation.
Private jets typically are small and have two or three rear mounted engines. Approximately  11,000 private jets are flying around the world with the majority in the US.
There are five different categories of private jets that include very light, light, mid-size, super mid-size, and last but not least heavy. Depending on what type of private jet you have (or want) will vary on the annual cost.
The actual jet price will range from an old junker going for $300,000 all the way to the Rolls Royce of the air at $100 million. his is all dependent on the size of the jet and special features.
Now that's just the cost of the jet. The annual maintenance is generally very significant as well. Consider the following:
- The cost of a pilot will go for around $100,000+ per year
- Hangar fees are around $50,000 per year
- Depending on how old your jet is, you there may be an unexpected cost of rebuilding the engine from the FAA
- Jet fuel price is very volatile and can range dramatically from $2.00 to $5.00 per gallon
If these cost are too significant for you, consider fractional ownership or renting.
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