Can I make money with a private jet?

Not so fast. Flying a private jet for 1,200 revenue hours per year is highly unlikely. Even if a manager could find the demand, the pilots cannot fly that many hours in a year, so additional crew members are needed to achieve this lofty goal of 1,200 revenue hours in a year.



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A private jet can be a wonderful investment–find out if it is right for you. Investing in your own personal private jet is a wonderful opportunity to expand your assets and gain access to luxury travel. When deciding if buying a private jet is right for you, you need to consider what you have to gain from the purchase.

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There are many business advantages that come with owning a private jet. For starters, they make air travel quicker and more efficient. Sales executives can swiftly visit clients to close deals and still be home in time for dinner.

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Key Takeaways. A private jet can cost anywhere from $2 million to over $100 million. Ongoing expenses may include flight crew salaries and expenses, the costs of routine maintenance and unforeseen repairs, hangar rental, and aircraft insurance.

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Now, you can either buy your own private jet outright or you can charter one. Buying a private jet can cost anywhere from $3 million to $75 million, according to Simple Flying, and maintenance fees can cost between $500,000 and $1 million yearly.

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It can be more affordable to fly privately if the cost is shared among all the passengers. When you book a private jet charter, you're renting the entire aircraft. Bringing other paying passengers with you can reduce the cost.

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Under Part 135, most aircraft are individually owned by a single owner, whose average personal usage is approximately 480 hours a year. However, some owners may only fly their aircraft for 200 hours a year, so they may ask a plane management company or operator to charter it for them.

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Mukesh Ambani: Boeing Business Jet 2, $73 million. Elon Musk; Jeff Bezos; Sergey Brin; Larry Page: Gulfstream G650 ER, $70 million each. Bill Gates: Bombardier 8000, $66 million.

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