What Are The Hidden Costs of Private Jet Ownership?

There are many different jet companies that are providing the aircraft for ownership.  The differences in the jets available depend on the size and the needs of each individual owner of the aircraft.  A private jet can be owned and operated by anyone that finds their needs are met by the ownership of a private jet, but what are some of the hidden costs of ownership.

Fuel: Fuel costs are as volatile as any market.  According to the Energy Information Administration, the average nationwide cost of jet fuel across the United States in November of 2009 was $4.24 per gallon. Assuming the average private jet gets three miles per gallon, the fuel cost would be $1.41 per mile.  That is much higher than your average vehicle on the road, but you have to remember that time is a factor when taking a private jet over a more traditional road vehicle.

Pilots: A pilot for your aircraft can cost anywhere from $20,000 per year to $120,000 per year.  There are factors such as benefits and other costs that factor into hiring a single pilot. The other factor is of course a co-pilot that can also be a part of the crew. Experience and ratings of the pilot are factors that will increase or decrease their salary.

Catering: Catering costs can vary depending on your needs and the number of people or passengers.  Some of the management companies out there can provide these services.

Many management companies can put together an overall management package price from $100,000 to $200,000 per year depending on the needs of each individual or company.

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