It costs anywhere between $2 million and upwards of $100 million to buy a new private jet, and it costs between $1,300 and $13,000 per flying hour to charter a private jet, depending on the size and capacity of the airplane, according to private jet charter company Air Charter Service.

Owning a private jet eliminates the high hourly "charter" profit margins, but the "Direct Operating Costs" (DOC) remain substantial. For a mid-sized jet like a Cessna Citation Latitude, you can expect to pay between $3,000 and $5,000 per flight hour. This includes fuel (the largest expense), engine maintenance programs, and landing fees. However, the true "cost of ownership" includes fixed costs that occur even if the plane never leaves the ground. These include pilot salaries (approx. $150k–$250k per year), hangar fees ($3k–$5k per month), insurance ($30k–$50k per year), and the massive depreciation of the asset, which can be millions of dollars annually. For a heavy jet like a Gulfstream G650, total annual costs (fixed + variable) can easily exceed $3 million to $5 million for 400 flight hours. Unless you fly more than 200–300 hours per year, most financial advisors in 2026 recommend fractional ownership or jet cards, as owning the entire jet is generally only cost-effective for corporations or individuals with extremely high travel demands.