How much does it Cost to Buy a charter?
Over the years, private charter have been used by companies and people that can afford to use them. Owning a jet is no small matter since a person would need to spend at least $150,000 a year to operate, maintain and to insure this type of flying machine. The following material will explain the real cost of owning charter.
Private charter are for People with Money
Private charter are not for the average person. An individual will need to literally make at least 10 million dollars a year to own a private charter. The fact is that charter are expensive and they range in price between $4 and $8 million. Some models could cost as much as $10 million dollars and up and older charter planes could cost considerably less at $2 million. Still, most people could not even afford a private charter at these prices. So the bottom line is that if a business or a person does not have the money to outright purchase a charter; they should not even think about trying to own one.
charter can be Rented or Leased for a Fee
Some private charter companies will allow consumers with money to lease or rent a charter. People who rent or lease a charter can hire out a pilot and crew to operate their flying units for about $200 a day per pilot or crew member. That fee could be as much as $400 a day for this type of service depending on the experience and the type of crew that a charter owner is using.
Companies generally charge rates according to the distance that person plans on traveling. So, if a customer decided to fly from New York to Los Angeles this could cost as much as $40,000 with some companies. Overseas trips could be in the six digit figures and an around the world trip could cost as much as a $500,000. Remember that charter fly non-stop to their destinations. This means that a person can literally travel around the world in less than a day with some private charter services. They will have to pay money for this type of service.
The Hidden Cost of Owning a charter
If you own a charter, there will be hidden costs that will be a part of ownership. A person will have to pay at least $30,000 a year for insurance, they will have to pay about $50,000 a year to keep the unit housed in a hanger. Then they will be responsible for paying maintenance fees, repair costs and fueling charges. Fuels for charter is not cheap and if a person owns their own flying machine they can expect to pay at least $2,100 to fill up a standard charter fuel tank that holds about 700 gallons. As of June, 2016 the average cost of charter fuel for a 700-gallon tank is about $3,00 per gallon.
Do not forget that if you want to fly your own private charter,you will have to pay money to learn how to fly and you would have to get licenses and certificates for this well. You could easily spend at least a couple of years and about $50,000 on this alone.
A charter owner will also need the proper licensing to be able to fly their charter through the airways. They will also need special permits and other documentation for owning and operating this type of air vehicle. Owning a charter is not a small matter and it is very expensive. This most of transportation is not recommended for the average person because it is not cost effective.
Honestly, unless you are a person that does a lot of business all over a nation or throughout the world, owning a private charter would be pointless. This is also true for wealthy people with money to burn. charter are very complex and expensive pieces of machinery and they should only be purchased by people who have a real need for this type of travel.