A private jet
offers a high-end luxury experience with a personalized journey. Passengers are not required to stand in long lines during immigration or check-in, and access to a private aircraft provides a flexible schedule for business or pleasure that you can’t get with commercial.
The cabin is designed to accommodate comfortable seating along with dedicated entertainment systems. With the privacy offered by a private jet, travelers can work without interruptions. The ability to land at a particular location often bypasses the need to connect flights or take long drives.
Getting on a private jet has become more accessible as manufacturers continuously improve and compete for market share. A jet’s value is influenced by its manufacturer, size, performance, maintenance costs, and market demand. Design contributes to combining all of these elements.
Photo: Jonathan E Hendry | Simple Flying
Private jets are available in different sizes and configurations. Very Light Jets (VLJs) are smaller and less expensive, making them ideal for short-distance flights such as the Cessna Citation
Mustang. Light jets balance overall performance and luxury, while midsize jets offer big cabins for prolonged trips, such as the Embraer Phenom 100
and Bombardier Learjet 45. Large and Ultra-Large Jets offer the maximum luxury options, like the Gulfstream G650ER
.
When choosing between new and pre-owned jets, consider initial cost, maintenance, warranty, and customization options. New jets typically come with warranties, while pre-owned jets may have limited customization options. Simple Flying recently explored the most affordable options in the private jet market; here’s what we found by examining brand-new and pre-owned jets during the last twenty years.
|
Cheapest brand-new private jet |
|---|
|
1. Cirrus Vision Jet |
|
2. Cessna Citation Jet |
|
3. Embraer Phenom 300 |
|
4. HondaJet Elite |
|
5. Pilatus PC-24 |
|
Cheapest pre-owned private jet |
Year |
Selling Price |
|---|---|---|
|
ECLIPSE 500 |
2007 |
$1,400,000 |
|
HAWKER 400XP |
2007 |
$1,475,000 |
|
EMBRAER PHENOM 100 |
2009 |
$1,675,000 |
|
HAWKER 400XP |
2007 |
$1,750,000 |
|
NEXTANT 400XT |
2011 |
$1,800,000 |
The preowned private jet on display
The market is increasing, as more than 1,200 preowned jets are currently available for sale. The industry has not delivered more than 809 new jets since 2010. Aircraft dealer members of the International Aircraft Dealers Association declared that closed agreements rose from 239 to 253 units in the first quarter of 2024, a 5.9% increase compared to previous years.
Buyers are making competitive offers to place aircraft into service during the second quarter. North America has the highest market share due to the largest number of private jet owners in the world. At the same time, production slowdowns have increased customers’ long waiting times for newer models.
Pre-owned jets can be updated in a cost-effective concept to improve their performance, comfort, and resale value. Refurbishment refers to interior services done inside the plane and the manner of amendment that renews the cabin. Installation of new lighting and personalized entertainment systems creates a more inviting atmosphere.
Evolving regulations can increase costs, as seen with the FAA’s requirement for tracking technology in US aircraft. This necessitates more maintenance, leading to increased downtime and potentially impacting charter revenue targets, especially for older business jets.
The most affordable new private jet
The Cirrus Vision SF50 jet is manufactured by Cirrus Aircraft, headquartered in Minnesota, US. The single-engine, very light jet features a low wing configuration and carbon fiber-made fuselage. It is a high-performance aircraft that consumes 59 gallons of gasoline per hour on average, making it a popular choice for personal and corporate travel.
The cabin provides head and shoulder space for up to five adults and two children. Panoramic windows offer an immersive experience, while modular seating gives the cabin mobility. A new Cirrus Vision SF50 is listed at around $3 million in 2024.
|
Engine |
Williams International FJ33-5A turbine engine |
|
Max cruise speed |
358 mph (576 km/h) |
|
Takeoff distance |
2,036 ft (621 m) |
|
Max operating altitude |
31,000 ft (9,449 km) |
|
Max range |
1,275 NM (2,358 km) |
|
Payload |
1,350 lbs (612 kg) |
|
Max passengers |
7 passengers |
The jet uses Garmin’s Auto Radar, which automatically scans vertically and horizontally to give the pilot a composite, real-time view of the surrounding weather. This makes utilizing the weather radar easier in high-workload circumstances when the weather is an issue. In addition, Gogo InFlight systems provide continuous WiFi, with passenger control of cabin temperature.
Single Engine Jet: A Cirrus Vision Jet Price Guide
Cheaper options for flying privately
Turboprops are often cheaper than private jets and always have lower operating expenses than jets. However, a turboprop is more susceptible to weather and turbulence at lower altitudes. The selling price of a well-maintained, preowned turboprop aircraft can be significantly lower, with a starting price of $80,000 or less.
Photo: Tradewind Aviation
In contrast, a jet can cruise through harsh weather at a greater altitude with quieter engines than turboprop planes. Although a private jet seems sleeker from the exterior, private jets and turboprop aircraft cabins are sophisticated. On the other hand, you may want a bigger private aircraft for a long-distance or high-speed charter flight.
On-demand private jet charter allows travelers to rent a private aircraft at their preferred time. One advantage of chartering a private jet on demand rather than owning one is that you may select from various aircraft sizes. Chartering flight charges vary from $1,000 to $10,000 for each flying hour.
Leasing a private aircraft is becoming more popular within the private jet industry. It grants the lessee exclusive access to a specific aircraft with a specified number of flying hours per month. This option requires an advanced security deposit and a monthly cost equal to the minimum guaranteed hours.
A fractional or shared ownership acts as a share of a private jet rather than owning the entire aircraft. The fraction grants access to dedicated flying hours on an aircraft (or a similar aircraft type or jet category). One share gets many benefits from owning the jet without financial investment or recurring expenditures associated with owning an aircraft.
Each option has pros and cons, requiring careful consideration to find the best solution for your specific needs. The first step is to estimate the number of flying hours required over the following 12 to 18 months.