The REAL PRICE of Owning a Jet | Top World List

The REAL PRICE of Owning a Jet | Top World List

Welcome back to Top World List. It's a good idea to get a handle on some of your future expenses even if those expenses might seem outlandish to the average person but owning a jet isn't out of the reality of everyone so let's take a look at the real expense of owning one so you're prepared when you're in the market for your own jet.

No 1. Private jets are not cheap 

However, do we actually know how much they go for? If you want it straight out of the box a model of the most popular ranges of private jets will cost you in the region of thirty-eight to ninety million dollars these will be luxurious.

But not necessarily have any special custom bells and whistles or upgrades you would get from an already pimped out plane like cars airplanes are similar in that they lose a lot of value right off the showroom floor. 

So If you opt for a pre-owned model you could bag one for somewhere between 14 million to 35 million dollars possibly even with some great extras already added onboard, but like with any mode of transportation, this is just where the expenses begin. 

No 2. A plane needs a storage facility for when it's not in the air

Most people prefer to not leave their multi-million dollar purchase out in the rain or the Sun. So you'll need to find a storage hangar the bigger and busier the airport the more the hangars will cost so a hangar at LAX in Los Angeles, for example, will chalk up a cost of one hundred and sixty thousand dollars annually a smaller airfield will cost you about eighty thousand dollars a year or you can avoid all of these costs and build your own fully functional to runway Airport like actor John Travolta and wife Kelly Presley did in the backyard of their home.

No 3. Every time you land you're charged a landing fee 

Every time you land you're charged a landing fee by the airport you land act the fee is based on the size and weight of the aircraft because it's to maintain the runways and the airport buildings however at some airports you get free landing if you're refueling there in the case it isn't waived for refueling you're in for a landing fee of between 100 and 500 dollars per touchdown when your jet isn't at home in its hangar.

It also encouraged charges for parking these are called ramp fees and are charged by the day. They vary from airport to airport and of course, the busier and bigger airports can charge an absolute premium for space. So in some cases, it might be more economical to land disembark and fly elsewhere to park at a smaller non-commercial airfield but then again you pay landing fees so your pilot will need to do the math.

The most expensive airport to land in the world is Haneda Airport aka Tokyo International here the moment your tires hit the tarmac you'll be billed upwards of seven thousand dollars and that doesn't even include a free airport coffee that's another $10. 

No 4. Refueling an aircraft is different from topping up your car 

You can't just put in $20 to get you to your next destination. Most countries have Federal Aviation Regulations that require plenty of fuel to not only get to your destination safely but allow you plenty of fuel in case you can't land where you're expecting to land and have to fly further in the USA that includes enough fuel to fly to your airport of intended landing and then enough to make it to your declared alternate field and then a further stash to fly another 45 minutes at normal cruising speed.

So definitely be sure to have plenty of breathing room on your credit card before pulling up to refuel your Gulfstream g650 er these thirsty gas guzzlers take a whopping 7,000 gallons to fill which will take you a distance of 7500 nautical miles of a fly.

The more popular private jets hold a lot less but also don't get as far, for example, the phenom 300 holds 800 gallons and goes a distance of about 800 nautical miles jet fuel like motor fuel is priced differently at each gas station it varies from $3 to $8 per gallon. So it's hard to be precise but if we take an average of 550 a gallon and plan a trip in a Cessna Citation X C 750 with a fuel tank of 7,200 liters or 1,900 gallons and you're flying from Havana to London that's a one-way trip of around 40 100 nautical miles however with the Cessnas tank size you'll have to stop to refuel at Gander International Airport in Newfoundland before you hit the Atlantic crossing after a refuel you're off across the ocean and the total trip will need around 4,000 gallons of fuel so your fuel bill will be around $22,000.

No 5. You need someone to fly your private jet and run it 

When you think of owning a private jet I doubt you're thinking of carrying your own luggage bringing a packed lunch and pouring your own drinks that means you'll need to employ quite a crew to make the mile-high life as lush as you imagined and airline crews don't come cheap it's a disruptive lifestyle and requires plenty of special safety training compared to your on-ground hotel cleaning our hospitality servers, pilots are also a commodity and this is not an area you want to rummage around in the bargain bin for the pilot and crew will have your lives in their hands.

So employ them wisely luckily you don't require two pilots by law in the same way commercial aircraft do now there are two more costs associated with a crew but a lot more on that later in the video, for now, we'll tell you an average private jet pilot earns a salary of one hundred and twenty thousand dollars a year and the average annual take-home of a private jet hostess is $60,000 a year. 

No 6. Each time you take off for land you're liable for airport taxes

These are imposed by the government municipalities and the company responsible for running the airport. Then there are usually government-imposed taxes calculated per passenger on board when you enter and exit a country you also pay permits taxes and many airports also charge a tourist tax, here are some examples flying from Miami to Rio de Janeiro your trip taxes will be international head tax at 18 dollars per person onboard and domestic segment fees of 420 per person and that's not counting all the other taxes and rates. We mentioned when you land.

No 7. Just like a car, a plane needs parts upgraded repairs and regular services 

Costs will vary from aircraft model to aircraft model but they range from $700,000 and climb to a staggering four million dollars just for servicing.

No 8. Your jet will need to be insured 

Your jet will need to be insured not only are you going to need to ensure your aircraft against all accidental loss or damage you also need to cover your crew passengers and general public liability on the popular Cessna 172 you'll pay around $50,000 a year for all-around insurance rates increase as the plane ages and flight hours go up but the larger the plane and the greater the payload the higher the premium will go.

No 9. Upgrades and customization are par for the course

There is no end to the upgrades you might want to do to pimp out your private jet. Donald Trump has customized gold-encrusted Trump-branded wall art on his jet Prince Alwaleed bin Talal upgraded his 200 million dollar Airbus a380 to the tune of 300 million dollars adding Turkish baths a garage for two Rolls-Royce's a concert hall and prayer rooms. So when it comes to the cost of all of this well to infinity and beyond.

No 10. So what is the total real cost

It's kind of hard to break it down into an exact figure as there are so many numerous models and makes as a most basic breakdown a private jet will cost you about four million dollars in annual costs like insurance maintenance upkeep and storage with an operating cost of about five hundred thousand dollars to 1 million dollars based on how much you fly of course these are just your annual you could splurge anything from 15 million to 600 million dollars on a private jet and then continue to upgrade it to your heart's content.