Although fuel consumption will vary depending on onboard weight and flying speed, larger planes such as the Gulfstream G700 can burn through 380 gallons an hour, putting your minimum hourly fuel costs at over $1,000.
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The cost of jet fuel runs between $3 and $10 a gallon, and you can expect it to cost you more than $1,000 to fill up each time you need to fill the gas tank, and this cost is for a small private jet.
Fuel Costs of Operating a Private JetBased on 500 hours of flying per year, a typical private jet will consume around 3,500 gallons of fuel. At $5 per gallon, fuel costs would amount to $17,500 per year.
Generally speaking, private jet card costs range from about $25,000 for 25 hours to over $200,000 for 100 hours. With private jet cards, customers have the flexibility to choose from different pricing tiers, which can typically be found for different flight times.
How Much Does it Cost to Rent a Private Jet? The cost to rent a private jet varies from $2,000 – $14,000 per billable flight hour. These hourly rates include a broad selection of aircraft from turboprops to the finest executive jets in the skies.
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.
As for salaries, private jet pilots can expect a salary in the range of between $47,000 up to $272,000 per year, with the majority of pilots falling somewhere in the middle of that scale.
The most economical private jets - Turboprops, Very Light Jets or Executive Light Jets - cost around $2,600 to $3,500 per flight hour. Midsize or Super Midsize Jets cost between $3,200 and $6,000 per hour.
However, compared to a kerosine-type fuel, wide-cut jet fuel was found to have operational disadvantages due to its higher volatility: Greater losses due to evaporation at high altitudes.Greater risk of fire during handling on the ground.Crashes of planes fueled with wide-cut fuel were less survivable.
Cost savings: Chartering a private jet is significantly more economical than buying your own plane. When you charter, you'll pay only for the flights you use, rather than for the entire purchase price of an aircraft that may spend much of its time sitting in the hangar.
What Are the Ongoing Costs Associated With Owning a Private Jet? Ongoing costs with owning a private jet include maintenance, repairs, storage, fuel, and more. Costs can range between $500,000 to $1 million annually.
Seat sharing services allow travellers to buy seats on a per person basis, on a private aircraft, whether it's on a bespoke charter flight or on a pre-determined route (a shuttle). This can bring the cost of the flight down considerably.
A typical private jet charter can cost anywhere between $2000 and $11,000 per hour. In simple terms, hiring a six-seater jet could cost around $5000 per hour.