To fly private on a regular basis, it's best to have both a $1+ million annual income and $25+ million net worth. In years when your income drops below $1 million, even if you still have a $25 million net worth, fly commercial instead.
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To be able to afford flying privately, your annual household income will likely need to be no less than seven figures. The minimum net worth of private flyers is usually around $25 million.
The typical cost is between $2,000 and $11,000 per billable hour to charter a private jet. However, those prices aren't the whole story. The price can vary dramatically by season or the route.
It can be more affordable to fly privately if the cost is shared among all the passengers or by booking a flight on an empty leg. When you book a private jet charter, you're renting the entire aircraft. Bringing other paying passengers with you can reduce the cost.
Hangar feesUnless you have space in the garage, you'll have to rent or buy a space in an airport hangar. Depending on the hangar location, renting a private hangar will be around $3,000 per month.
One of the most popular ways to repeatedly charter a private jet is through one of the larger aircraft fleet operators such as NetJets, Flexjet, Wheels Up and Vista Global. These companies offer a wide range of aircraft that can be chartered in several different ways.
When you fly privately, the cost is typically shouldered by just one or two passengers. The hourly costs to charter a private jet include the cost of fuel, aircraft maintenance, crew wages, and more.
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.
Air Partner, Executive Jet Management, JetSet Group, NetJets and Private Jet Services all offer one-way transatlanticjet card rates as well. Hourly rates range from $11,000 to $20,000, based on provider and specific aircraft types.
Perception of safety. Managing risk is a common skill for the wealthy and often a high-end traveller will consider private travel to be safer than a commercial offering. The report claimed that the two dominant factors are the age of the plane and the visual condition of both its exterior and cabin.
When the billionaire finally decided on a private jet, she chose luxury. Kim Kardashian reportedly purchased the Gulfstream G650ER she calls 'Kim Air' for US$95 million but ultimately paid US$150 million for renovations and design.
Inside Kim Kardashian's US$150 million private jet, aka Kim Air: the cashmere-clad Gulfstream plane seats 18 and is pricier than even Jeff Bezos and Elon Musk's rides. As a billionaire, having a private jet is probably no big deal.
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.