While a one-off short flight on a light jet might be had for as little as $5,000, you can also buy a new $70 million ultra-long-haul private jet. We look at the options, including full ownership, fractional shares and leases, jet cards and on-demand charter
The cost of a private jet varies widely, from owning an entire aircraft to chartering on-demand. But what are the options?
Fractional ownership and leases, as well as jet cards, have become a popular middle ground, providing convenience and consistent experience in many ways offering the best of either full ownership or on-demand charter.
However, figuring out the right solution isn’t necessarily based only on flight hours. Current U.S. tax benefits of full or fractional ownership can tilt the scale in their favor, particularly if most of your flying is for business.
Despite the seemingly rosy forecast, figures underline how the industry has now struggled through a decade of tepid recovery
Private jet broker Jetcraft has released new research predicting 11,765 pre-owned transactions over the next five years, equating to $61 billion in value, and 3,444 new deliveries, representing $90.5 billion. By 2023, the total market for used and new deliveries will exceed $30 billion annually. Pre-owned business aircraft transactions are expected to outpace those of new deliveries four to one.
Farmingdale, Long Island-based Ventura Air is making a case that you don’t need to fly 400 hours per year to own your own private jet
It used to be there was a fairly standard way to look at private aviation solutions. If you were flying under 25 hours per year, an on-demand charter was the way to go. Jet cards were for 25 to 50-hour fliers, while those between 50 hours and 400 hours you were in the red zone for fractional ownership and leasing. Only if you or your company needed over 400 private flight hours per year would full ownership make sense.