When it comes to luxurious and convenient traveling, there can be no better option than private jets. Traveling on commercial flights imposes many challenges. When you have a private aircraft, you are free from all the airport hassle. Needless to mention, you have the flexibility to travel anywhere at any time. But the question that arises is if it really is necessary to buy a private jet to enjoy all its luxury?
Well, no (as a simple answer). You can easily hire a private jet whenever you need to travel. There are several benefits of renting a reliable business aircraft over buying one. Let’s have a look at how a private jet charter is better than buying one.
How much does it cost to buy a private jet?
The most important part of this comparison is evaluating the cost difference between buying and renting a jet. The prices of jets vary, but on average, buying a private jet will cost you around $3 to $90 million. On top of this initial investment, there will also be operating costs, including maintenance and fuel. You will also meet several other expenses, such as pilot and staff salaries, training, and insurance. Adding all these expenses, owning a private jet will cost you a fortune.
How much does it cost to charter a private jet?
The cost of a private jet charter is far less as compared to owning one. The rent depends on several factors, such as the number of hours, destination, type of jet, and size of the jet. On average, a mid-sized private jet charter will cost you around $2900-6500 per hour. Mind that you will end up paying for only the use of the jet.
Which option is more convenient?
In addition to fewer costs, in the private jet charter, you are also free from all the headaches associated with the maintenance of the jet. Especially for having the best business aircraft, an owner has to ensure high maintenance of the jet. However, if you rent a jet, you would not need to worry about anything. Everything will be handled by the company you are renting a jet from. You would just need to book a jet and conveniently enjoy all the luxuries of the private jet.
Bottomline
Even if you fly over 400 hours per year, buying a private jet will not be financially beneficial for you. The biggest demerit is that a single type of aircraft can’t be used for all the routes. So, owning a private jet will never be sufficient for you. Therefore, it is better to charter a private jet according to your trips.
