Jet Ownership Cost — For high-net-worth individuals (HNWIs), owning a private jet symbolizes ultimate luxury and freedom.
But beyond the thrill of private travel, understanding the cost of jet ownership is a must before investing.
From personal jet cost to operational expenses and management fees, numerous factors influence how much it costs to own a private jet.
This article provides an overview of what to expect when calculating the cost of jet ownership.

Jet purchase price

The first and most obvious expense is the private jet cost itself. Depending on the type and size of the aircraft, prices can vary dramatically:

Light jets (4-8 passengers) typically cost between $3 million and $10 million.
Midsize jets (7-9 passengers) range from $9 million to $20 million.
Large and long-range jets (10-18 passengers) can cost $20 million to $70+ million.
Ultra-long-range or VIP airliners can exceed $100 million, especially when customized.

Keep in mind that this is only the starting point. The sticker price doesn’t include taxes, customization, or initial setup fees. Second-hand jets are obviously cheaper than brand-new ones, too.

For more on pre-owned vs. new aircraft, see how to buy a private jet without making mistakes

Operating costs: the ongoing investment

Once you own the aircraft, ongoing expenses make up the bulk of your jet ownership cost.

These can be broken down into several categories:

1. Crew salaries and training

Your private jet will require a professional crew, including pilots, flight attendants, and engineers. Annual salaries and benefits typically range:

Pilots: $120,000 to $250,000 each
Flight attendants: $50,000 to $80,000 each
Maintenance engineers: $70,000 to $150,000

Don’t forget ongoing training and recurrent certification, which keep your team compliant with evolving regulations. These staffing needs are comparable to those in luxury yacht operations where crew planning is essential.

2. Fuel and flight hours

Fuel costs vary widely depending on aircraft size, flight frequency, and routes taken.

On average, jets consume between 150 to 450 gallons of jet fuel per hour, and fuel prices fluctuate globally. For rough budgeting:

Expect $1,000 to $3,000 per flight hour in fuel alone.

3. Maintenance and repairs

Routine maintenance, inspections, and unexpected repairs are essential for safety and regulatory compliance. Typical annual maintenance costs:

$300,000 to $700,000+ per year, depending on aircraft age and usage. Scheduled maintenance includes engine overhauls, avionics updates, and airframe inspections.

4. Hangar fees and airport charges

Storing your jet safely requires hangar space, often at private airports or FBOs (Fixed Base Operators). Costs depend on location and hangar size:

Expect $50,000 to $150,000 annually for hangar fees.
Airport landing and handling fees vary by airport but can add up, especially when traveling internationally.

5. Insurance

Comprehensive insurance covers hull damage, liability, and passenger risks. Policies are tailored to aircraft value, flight hours, and usage:

Annual premiums typically range from 1.5% to 3% of the aircraft’s insured value. This is similar to insuring high-value property assets abroad, where risk and jurisdiction matter.

6. Management fees

Most owners contract third-party management firms to handle operations, scheduling, maintenance oversight, and regulatory compliance.

Management fees usually run $50,000 to $150,000 per year - similar to luxury lifestyle services like executive assistant management or concierge solutions.

Depreciation and resale value

Like luxury cars or yachts, jets depreciate over time. The rate depends on model popularity, maintenance history, and market demand.

New jets can depreciate 5-7% per year over the first five years.
Well-maintained aircraft with upgrades may retain value better.

Resale value is important for long-term financial planning and should be factored into your overall cost analysis. For comparison, see resale tips from buying a superyacht where market timing and build quality are key.

Additional costs to consider

Custom interiors: Bespoke cabins, premium materials, and entertainment systems can add millions upfront.
Registration and taxes: Depending on jurisdiction, import duties, VAT, and registration fees can be substantial.
Flight Permits and landing rights: International flights require overflight permits and landing permissions that can add fees and complexity.
Unexpected costs: Currency fluctuations, geopolitical events, or urgent repairs can impact your budget.

How much does it cost to own a private plane?

For a typical midsize jet valued around $15 million, you might expect annual operating costs of approximately $1 to 2 million USD.

Making jet ownership more accessible

Not every HNWI chooses full ownership. Alternatives include:

Fractional ownership: Share the jet with other owners to reduce costs.
Jet cards: Prepaid flight hours without ownership responsibilities.
Chartering: Use private jets on demand without upfront investment.

These solutions offer luxury with fewer strings attached — ideal for those also managing assets like luxury homes in Dallas.

Frequently asked questions

How much does it cost to own a private plane annually?

Expect operating costs of 10-15% of the aircraft’s value per year, including crew, fuel, maintenance, and management.

What are the biggest hidden costs of private jet ownership?

Fuel price fluctuations, unexpected repairs, and regulatory compliance can add unforeseen expenses.

Is it cheaper to lease or buy a private jet?

Leasing reduces upfront costs but can be more expensive long-term. Ownership provides greater control and privacy.

To summarize

Buying a private jet is a major lifestyle and financial decision. Fully understanding the private jet cost — both upfront and ongoing — helps set realistic expectations and ensures your investment delivers the freedom and prestige you desire.

At Bespoke Life, we guide discerning clients through the complex world of jet ownership, connecting you with trusted aviation professionals for a seamless, confidential experience. Contact us today.

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Jet Ownership Cost: What High Net-Worth Individuals Should Expect

Jet purchase price