COST. Today, the newest model of the 747, the 747-8, is on sale from Boeing for $386.8 million US. But if you are interested in buying a second hand 747-200, prices vary widely.
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The process to install an interior can take up to two years. Operating a BBJ 747-8 will cost an estimated $23,000 an hour – but if you can afford to buy a your own 747, this cost is inconsequential.
How much does it cost to buy an old 747? There are no 747s available at the moment, but an answer on Quora, the Q&A website, estimates that used one might cost between $10million and $100million.
As of Sep 22, 2023, the average annual pay for the Boeing 747 Pilot jobs category in Staten Island is $100,515 a year. Just in case you need a simple salary calculator, that works out to be approximately $48.32 an hour. This is the equivalent of $1,932/week or $8,376/month.
Sure, the 747 is a Type Certified and airworthy aircraft, the FAA does not really care who owns it so long as they play by the rules. Boeing even sells them directly to the private market via their BBJ line.
1. Air Force One. The most recent Air Force One is a highly modified Boeing 747-8, which is estimated to have cost around $1.6 billion. The high cost of Air Force One can be attributed to its advanced security and communication features, as well as its customized interior.
Tracking the 747 fleet from 1966 to 2023Fleet data from IBA Insight reveals 346 active Boeing 747 family aircraft in service worldwide as of 31 January 2023. Other prolific operators include UPS (41 aircraft) Cargolux (29 aircraft) and Lufthansa (27 aircraft).
Commercial Pilot Licensing for Boeing 747 PilotsTo gain a license to fly the Boeing 747, pilots must first obtain their Airline Transport Pilot (ATP) certificate. To do this, pilots must meet certain educational requirements, such as having a college degree, or having a minimum of 1,500 hours of flight time.
This depends on the size of the plane, its efficiency, and how fast it's flying. A modern Boeing 747 can fly about 15,000 km (9,500 miles) when it's flying at 900 kmh (550 mph). This means it can fly non stop for almost 16 hours!
No more 747s are being made, but Boeing notes that they're still taking flight. The 1970s version even inspired one man to build a ground-based replica. We are proud that this plane will continue to fly across the globe for years to come, Boeing's Smith said. Copyright 2023 NPR.
But after five decades, customer demand for the 747 eroded as Boeing and Airbus (AIR.PA) developed more fuel efficient two-engine widebody planes. When Boeing confirmed in July 2020 that it would end 747 production, it was already only producing at a rate of half an aircraft a month.
Banks lend money to airlines with the loan guaranteed by the aircraft. The bank can repossess the aircraft if the airline stops paying its loan. Banks need to manage their risk so they often sell part of loans on to other banks. This is known as syndicating a loan.
The initial purchase price of an Airbus A380 can range from $300 million to $400 million depending on the model and specifications. This is the cost to purchase the aircraft in its current condition and does not include the cost of customization.
The Dreamliner is a successful aircraft, still in production with more than 1600 delivered or on order. The list price for a new Boeing 787-8 is $239 million dollars. Yet even as international travel opens again for these long-range aircraft, two Dreamliners barely ten years old are waiting for the wrecker's ball.
A Boeing 747 can endure about 35,000 pressurization cycles and flights—roughly 135,000 to 165,000 flight hours—before metal fatigue sets in. 747s are retired after approximately 27 years of service.