How does Private Jet Travel Work and What Does it Cost?
There is probably no other status symbol to “making it” than flying in a private jet. More than playing to egos however, the convenience and potential value it provides truly are remarkable. In fact Warren Buffet, who is famously frugal with his lifestyle, says the one luxury he would never give up is flying private. So how does it work? How much does it really cost? The following is a summary that helps to describe the marketplace and private jet industry.
There are many different varieties of planes to chose when you fly private. What plane you choose is normally dependent on the profile of your trip (or in airplane terms your “mission”). For example, flying from Miami to Key West with your business partner (instead of driving) would be a much different mission than relocating your family from the East Coast out to LA. Some missions can be accomplished with a turbo-prop plane, while others require a larger jet that can either carry a heavy load or fly long distances.
These differences are important to remember as you consider flying private, primarily because of price. Another factor to your decision is taste and preference. There are some clients who refuse to fly in a turbo-prop no matter how short the distance, and some who prefer the roominess of a larger plane even when they don’t need the space. Hey, why not!? If you’re treating yourself to the luxury of flying private it’s your prerogative to get what you want (just be prepared to pay for it!)..So how much does it really cost? Different than your car where you may or may not worry about your operating costs per hour or mile, this is how flying is priced. Depending on the kind of plane you use for your mission, the cost will be anywhere between $1000 -$6000 per hour. The biggest chunk of that cost is fuel (jet fuel costs more than gas, average is $4.80 per gallon).
Those are going to be your ball park costs whether you buy a plane, a fraction of a plane, pre-pay using a card program or just buy an on demand charter. What you choose from those categories really depends on the frequency you plan on flying, the kind of flying you’ll be doing and your financial situation.