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Private Jets : To Own or Charter

Aug 17, 2007
Small piston engined airplanes are the most popular among enthusiasts who wish to own their own airplane. Flying as a hobby or just for pleasure is very popular all over the world mainly because they are safe and easy to fly and maintain. Such aircrafts are owned by people from all walks of life - bank employees, architects, engineers, doctors and lawyers.

Many pilots do not own an airplane, but they rent them from the local airports, paying only for the number of hours they fly. If a small plane is rented for day for a family outing, it would cost the pilot only about $100 per hour and the actual flying time may not exceed one to two hours at the most.

Most small airplanes cost about the same as an expensive car. Used aircrafts are much more economical.

When it comes to larger aircraft, it is a different story. The smaller jets cost around $1.50 to $2.00 million making it beyond the reach of hobbyists and pleasure seekers. Typically such aircrafts are owned by Multinational and "Fortune 500" companies, and of course film stars, top sportspeople and the like. Flying and maintaining these airplanes is expensive. A pilot needs to be permanently employed and the company needs to pay rental if the aircraft is parked in the local airport.

For a company with multi-million dollar turnover, this may be a necessity as they would be using the aircraft all the more frequently in the course of their business, flying quite a few hundred hours annually. But for smaller companies, although they can afford to buy such an aircraft, they need to think if such an additional expense is necessary considering their actual use.

A private jet can be chartered for an year's use of around 30 hours of actual flight for about $100,000 and the aircraft of your choice will be at your beck and call till you complete the 30 hours of flight or one year, whichever is earlier. This works out very economical for companies that do not need the aircraft very often.

And then there is the Fractional ownership scheme where several companies join up and purchase an aircraft, and share the maintenance and other expenses equally, and paying for the actual flying hours at cost. This will work out economical for companies who may require using the aircraft more often.

To own or to charter a Private Jet depends entirely on the financial position and the actual need.
About the Author
Jason Uvios writes about "Private Jets : To Own or Charter" to visit : private air planes , private pilots for hire and corporate private jets .
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