Once a jet has been stripped bare of usable parts, its metal frame is redeemed for scrap value. A 747 can fetch up to $55,000 for its scrap alone.
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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. There are even a few used ones listed for sale right now.
You might view that as a bargain, since new 747s can run as much as $450 million and even older ones go for about $10 million, according to the website executiveflyers.com.
The Boeing 747 is becoming increasingly rare at airports around the world – at least in the passenger version. More and more airlines are retiring the queen of the skies. The coronavirus pandemic in particular has radically accelerated this process in some cases.
Hundreds of millions brand new? According to Boeing's current list prices, a brand new 747-8 would be worth $418.4 million, while its freighter sister is listed slightly higher at $419.2 million.
An era of aviation history has come to an end after 54 years. On Tuesday, the last 747 Jumbo Jet rolled off the production line at Boeing's Everett, Washington, facility. Built for Atlas Air, the 747-8 freighter is the last of 1,574 of the aircraft that earned the nickname Queen of the Skies.
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.
The Boeing 747, the first wide-body commercial airliner ever produced and still selling strong, is composed of 147,000 pounds of aluminum?up to 75% of the plane's flyweight?and 110,000 pounds of titanium, as well as a small percentage of other aluminum and steel alloys.
In a ceremony that was broadcast live online, the aircraft was handed over to its new owner, US air cargo operator Atlas Air, at Boeing's plant in Everett, Washington.
Joseph Lau: Boeing 747-8 VIP, $367 million. Sultan of Brunei: Boeing 747-430, $230 million. Roman Abramovich: Boeing 757, $170 million. Kim Kardashian: Gulfstream G650ER, $150 million.
November 27, 1983: An Avianca 747-200 crashed while on approach to the airport in Madrid, Spain, killed 181 of the 192 people on board. June 23, 1985: An Air India 747-200 blew up over the Atlantic Ocean near Ireland, killed all 329 people on board. The plane, en-route to Bombay, was destroyed by a bomb.
Ultralight aircrafts are the most inexpensive option. These are single-seat, single-engine planes that are ideal for personal recreation. An ultralight aircraft can usually be purchased new for an average range of $8000 to $15,000. Single-engine planes will typically cost between $15,000 and $100,000.