Summary
- Gulfstream G550 costs range from $13.5M to $23M and annual operating costs range from $1.6M to $2.6M.
- The G550’s cabin enhancements for passenger comfort make it a competitive option against other aircraft in its class.
- The total annual cost for G550 falls between $1.6M and $2.6M, with the cost per mile varying based on usage.
The Gulfstream G550 is a large business jet designed and developed by Gulfstream Aerospace in the early 2000s. Developed from the Gulfstream V, the G550 performed its first flight in July 2002 and was introduced in 2004. More than 600 examples of the 19-seater airplane were produced between 2003 and 2021 before production ceased in July 2021.
Liberty Jet states that the price of a Gulfstream G550 ranges between $13.5 million and $23 million, depending on the year of production, usage, and condition. The company states that there are currently 70 G550s (from different years) for sale. Depending on the number of flying hours, the annual operating cost of a G550 ranges between $1.6 million and $2.6 million.
The Gulfstream G550
- Crew: 2 pilots, 0–2 attendants
- Capacity: 14–19 passengers / 6,200 lb (2,812 kg) payload
- Length: 96 ft 5 in (29.39 m)
- Wingspan: 93 ft 6 in (28.50 m)
- Height: 25 ft 10 in (7.87 m)
- Empty weight: 48,300 lb (21,909 kg)
- Gross weight: 54,500 lb (24,721 kg)
- Max takeoff weight: 91,000 lb (41,277 kg)
- Maximum landing weight: 75,300 lb (34,156 kg)
- Fuel capacity: 41,300 lb (18,733 kg)
- Powerplant: 2 × Rolls-Royce BR710 C4-11 turbofan engines, 15,385 lbf (68.44 kN) thrust each
The Gulfstream G550 is a large, long-range business jet that can seat up to 19 passengers and fly a range of 6,750 NM (12,500 km). In comparison to the Gulfstream V, the G550 boasts greater Maximum takeoff weight (MTOW) and enhanced takeoff performance.
Photo: InsectWorld | Shutterstock
The usable cabin length is increased to offer better applicability for passengers. The increased cabin length also required the addition of an additional pair (seventh) of windows. The G550 directly competes with Bombardier Global 6000 and Dassault Falcon 7X aircraft. While both the Global 6000 and Falcon 7X offer a more spacious cabin than the G550, the operating costs of the Gulfstream are much lower than the competition.
Cabin dimensions
- Cabin height: 6 ft 2 in (1.88 m)
- Cabin width: 7 ft 4 in (2.24 m)
- Cabin length: 43 ft 11 in (13.39 m)
- Cabin length, including baggage hold: 50 ft 1 in (15.27 m)
- Cabin volume: 1,669 cubic ft (47.26 cubic meters) usable baggage
- Compartment volume: 170 cubic ft (4.81 cubic meters)
- Cabin altitude: 6,000 ft (1,829 m)
Operating cost of the Gulfstream G550
The operating cost of the Gulfstream G550 is based on the fixed costs and the aircraft’s direct operating costs. Fixed costs generally include acquiring crew, crew training, aircraft storage, insurance, and aircraft management. Fixed costs may vary slightly based on location and other external parameters.
Photo: viper-zero I Shutterstock
The direct operating costs of the Gulfstream G550 largely comprise the fuel and maintenance costs of the aircraft. Liberty Jet states that the annual fuel costs of the Gulfstream G550 can come to approximately $518K for 200 flying hours and about $1.05 million for 400 hours per year. Adding fixed-based operators (FBO) and maintenance costs, the annual direct operating costs of 200 hours per year is approximately $1 million, whereas, for 400 flying hours, it comes up to approximately $1.8 million.
| Direct Operating Costs (DOC) | Flying 200 hours/year | Flying 400 hours/year |
|---|---|---|
| Fuel Cost @ $7.23/gal | $517,668 | $1,035,336 |
| Maintenance | $95,400 | $190,800 |
| Engine Overhaul | $200,000 | $400,000 |
| Misc Crew/Landing/Handling | $80,000 | $160,000 |
| Miscellaneous Variable | $30,000 | $60,000 |
| Total Direct Operating Costs (DOC) | $923,068 | $1,846,136 |
Adding fixed costs to the equation, we must consider the cost of aircraft management, including storage, insurance, and crew. Notably, the fixed costs remain the same irrespective of the aircraft usage. It is done considering a salaried crew rather than wet-leased.
It is worth mentioning that these costs may greatly vary depending on the location. For example, renting a hanger in a busy metropolitan city like New York City or Los Angeles could be much more expensive than finding one in a small suburban location. Similarly, crew salaries and training expenses may also vary based on location.
| Fixed Costs | Flying 200 hours/year | Flying 400 hours/year |
|---|---|---|
| Crew | $345,000 | $345,000 |
| Crew Training | $104,000 | $104,000 |
| Hangar | $102,000 | $102,000 |
| Insurance | $48,000 | $48,000 |
| Jet Management | $78,000 | $78,000 |
| Miscellaneous Fixed | $65,000 | $65,000 |
| Total Fixed Costs | $742,000 | $742,000 |
Adding the fixed and operating costs, the total annual budget for maintaining a Gulfstream G550 ranges between $1.6 million and $2.6 million, depending on usage. Liberty Jet states that with the G550’s average speed of 536 mph, the cost per mile is approximately $15.53 for 200 hours annually and $12.07 for 400 hours of annual flying.
Photo : Kevin Porter | Shutterstock
Fractional ownership companies generally allow parties to own a jet, like the Gulfstream G550, based on 100 hours/year of flying. While the total budget may be reduced, the cost per mile flown will be greater due to the fixed costs.
| Total Cost | Flying 200 hours/year | Flying 400 hours/year |
|---|---|---|
| Total Direct Operating Costs (DOC) | $923,068 | $1,846,136 |
| Total Fixed Costs | $742,000 | $742,000 |
| Total Annual Cost | $1,665,068 | $2,588,136 |