Private Aviation: Should I buy or charter a jet?

Private Aviation: Should I buy or charter a jet?

The demand for private aviation continues to increase worldwide as well as first-time passengers. This has caused an influx in ownership and private jet charters. Which one is the best option? Well, as the Los Angeles-based private air company Exquisite Air Charter explains, that depends on your travel needs. Some key aspects to be considered are explained below.

Buying a jet

For starters, a mid-size jet can cost roughly 20 million USD, a price tag that creates a sequence of expenses that need to be accounted. Insurance, a crew, a maintenance and management program, operating fees for the aircraft (hangarage, fuel, flight dispatch) and its depreciation, are part of the mix.

Nevertheless, there is one key variable that might help justify the purchase of a private jet before calculating all the previous numbers. It’s defined by how much time you’ll spend in the sky; how many hours per year will the owner operate a certain aircraft. That number should be around 300 hours per year, anything less might make the decision unjustifiable on the long term.

On the other hand, when using a company like Exquisite Air Charter to fly private, you can choose from a wide pool of aircraft for short or long-range flights. There’s a right plane for every route and booking the appropriate jet will maximize the overall private travel experience, while also improving its cost-efficiency. The mentioned costs, mainly insurance, crew, maintenance, FBO, within others, are not a concern when chartering a private jet, as these fees are already included in the final price of the booked flight.

What’s the right private jet?

There is a right aircraft for every destination. That is not an understatement. Whether you want to travel to Seychelles, Canary Islands, Bora Bora, or the Patagonia, receiving advice from your private jet provider will be key and might improve your overall experience. The main features when choosing the aircraft are the length of the flight and the number of passengers.

Light Jets

These aircraft are a great option for shorter flights up to 4 to 5 hours and when carrying between 6 to 8 passengers. Their average range is 1,700 miles and its size makes them perfect for landing at smaller runways. The Phenom 300 and the Citation Jet are popular selections within this class.

Mid-Size Jets

With an average flight range of 3,500 miles and up to 8 non-stop hours of flight autonomy, this class is a perfect option for transcontinental flights at a competitive price. Miami to Los Angeles or New York to London, these aircraft have a capacity of up to 12 passengers and offer a large cabin. Popular bookings for this class are the Citation XLS and the Hawker 800XP, thanks to their comfort and range.

Heavy Jets

For long-range travel, heavy jets are clearly the best option. While accommodating up to 19 passengers and capable of flights of roughly 7,000 miles, this class will allow flights to almost any destination without layovers. For this segment, the Bombardier Global 6000 and Gulfstream G650 are at the top of the line thanks to their range and cruising speed.

Finally, even operators with a fixed fleet of jets need to charter aircraft for specific missions. The previous is justified by cost and efficiency as well as safety, since the appropriate aircraft will be paired with the overall travel conditions, from the number of passengers, route, and runway. Is it more convenient to own or charter a jet? Well, it depends on which one is the best option for you and your travel needs.

Article by Felipe Reisch