Owning a private jet in 2026 involves a complex web of fixed and variable costs that typically range from $500,000 to over $1,000,000 per year for a mid-sized aircraft, excluding the initial multi-million dollar purchase price. Fixed costs remain constant even if the plane never leaves the hangar: these include insurance ($30k–$80k), hangar fees ($30k–$100k), and crew salaries (around $100k–$250k per pilot). Variable costs depend on flight hours and include fuel (averaging $1,500–$3,000 per hour), landing fees, and engine maintenance programs. Furthermore, you must budget for annual inspections and regulatory compliance, which can add $10k–$50k annually. Most owners also pay a management company a monthly fee (often $5k–$15k) to handle logistics, maintenance scheduling, and crew staffing. Because of these staggering costs, many individuals opt for "fractional ownership" or jet cards, which provide the benefits of private travel without the total financial burden of sole ownership and the headache of managing a dedicated flight department.