Now, you can either buy your own private jet outright or you can charter one. Buying a private jet can cost anywhere from $3 million to $75 million, according to Simple Flying, and maintenance fees can cost between $500,000 and $1 million yearly.

Running a private jet is an immense financial commitment that goes far beyond the initial purchase price. For a mid-size jet like a Cessna Citation or a Learjet, you can expect annual operating costs to range from $700,000 to $1.5 million in 2026. This is split into "Fixed Costs" and "Variable Costs." Fixed costs include crew salaries (typically two pilots and a flight attendant), hangar fees, insurance (which has spiked recently), and mandatory recurrent training, totaling about $300,000–$500,000 a year even if the plane never leaves the ground. Variable costs are tied to actual flight hours and include fuel (the largest expense), landing fees, and engine "wear and tear" maintenance programs. Fuel alone can cost $1,500 to $3,000 per hour depending on the aircraft's efficiency. Most owners also set aside a "reserve fund" for major inspections (like the "C-Check") which can cost $200,000 every few years. Because of these staggering overheads, many wealthy individuals in 2026 prefer "Fractional Ownership" or "Jet Cards," which provide the luxury of private flight without the administrative and financial burden of full ownership and the associated million-dollar annual "burn rate."