Summary
- HondaJet is a fuel-efficient private aircraft with a capacity of up to six people.
- Owning a private jet can be costly, but there are ways to offset expenses.
- Costs for a HondaJet can vary, with estimates ranging from $200,000 to $919,144 annually.
HondaJet is one of the most technologically advanced and fuel efficient aircraft on the private aviation market. With a total capacity of up to six people (including flight crew), HondaJet can fly a range of 1,223 NM (1,407 miles, 2,265 km) with a cruise speed of 422 knots (486 mph, 7882 km/h).
Irrespective of the size or type of jet, owning and operating a private jet is a very high-cost adventure. There are ways to offset those expenses, such as welcoming paying passengers or signing up for fractional private jet ownership – similar to timesharing a condo – and sharing direct and indirect costs of having a business aircraft to your name. At the same time, not all private jets are created equally, even if AvGeeks love them equally since there are very different types of jets, ranging from light to heavy or long-range aircraft.
One such aircraft is the HondaJet, developed and built by a subsidiary of Japan’s Honda, the same company that makes cars, motorcycles, lawnmowers, and even marine engines. Nevertheless, the HondaJet has become one of the most iconic private aircraft, with its unique design exemplified by the over-the-wing engine mounts, which are not a sight you will typically see when visiting an airport. Nevertheless, if you ever wished to own a HondaJet, how much money would you have to reserve to fuel your passion and the aircraft?
HondaJet operating costs
- NBAA IFR Range (4 occupants): 1547 nm (2865 km)
- Maximum Cruise Speed (FL300, ISA): 422 KTAS (782 km/h)
- Takeoff Distance (SL, ISA, MTOW): 3,699 ft (1,128 m)
- Landing Distance (4 Occupants, NBAA IFR Reserves, Unfactored): 2717 ft (829 m)
Owning an aircraft can be split into two categories regarding costs: fixed and variable. Fixed costs include depreciation, rentals, insurance, and others, such as various fees. Variable costs include fuel and other lubricants, maintenance, and crew-related expenses, according to the Federal Aviation Administration (FAA). In comparison, commercial airlines also have direct (fixed and variable costs) and indirect costs, such as promotional or marketing expenses, sales costs, and others, making up a complicated equation to be profitable.
Still, cost estimates differ. For example, evoJets estimated that the acquisition costs of a HondaJet are between $5 million and $6 million, with annual fees, including depreciation, around $1.1 million. Meanwhile, direct operating expenses are $1,080 per flight hour (FH), which includes fuel, maintenance, crew, and other costs. Being certified as single-pilot aircraft, those fixed costs can be relatively low, with evoJets naming a ballpark of around $200,000 of annual fixed costs.
Photo: Oleksandr Naumenko | Shutterstock
Meanwhile, SherpaReport shows that the base price for a new HondaJet Elite S, the HondaJet variant that was unveiled in May 2021 and was replaced by the HondaJet Elite II, was $5.4 million, with a pre-owned HondaJet HA-420 starting at $2.5 million. However, prices vary between aircraft due to age, FH, flight cycles (FC), condition, and other factors.
In addition, SherpaReport estimated that the variable costs for a 300 nautical mile (555.6 kilometers) mission was $922, while flying to a destination 1,000 NM (1,852 km) away, the variable expenses are $2,691. Summarizing its estimates, the company indicated that with the aircraft averaging 250 FH per year, the total annual fixed costs would be $311,443, yearly variable owner costs would be $242,625, and total annual trip support costs would be $25,220, coming to a total yearly cost of $583,288.
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Lastly, the Aircraft Cost Calculator said that flying 450 hours per year would have fixed costs of $328,744 and variable costs of $590,400, and the annual budget would be $919,144. If flying an additional 200 charter hours, the same costs go up by $143,344, $590,400, and $733,744, respectively.
In terms of flying hour, the 5-passenger HondaJet HA-420 costs $1,134.90 per hour to operate, as estimated by the Aircraft Owners and Pilots Association (AOPA). The hourly cost is inclusive of fuel, maintenance (parts and labor), engine reserves, crew travel, catering, cabin supplies, landing and parking fees, and auxiliary power units, if applicable. The AOPA provides a very comprehensive list of variable costs boiled down to just one number, i.e. cost per hour.
Photo: Bluebearwing | Shutterstock
HondaJet characteristics
Exterior Dimensions
- Length: 42.62 ft (12.99 m)
- Wing Span: 39.76 ft (12.12 m)
- Height: 14.90 ft (4.54 m)
Interior Dimensions
- Length: 17.80 ft (5.43 m)
- Width: 5.00 ft (1.52 m)
- Height: 4.83 ft (1.47 m)
Baggage Space
- Combined Stowage: 62 cubic ft
- Aft Compartment: 53 cubic ft
- Nose Compartment: 9 cubic ft
So, what does that money get you? According to Honda Aircraft Company, the latest iteration of the business aircraft, the HondaJet Elite II, is the “continuation of the Elite program’s vision to redefine the very light jet category with superior performance and efficiency born from aerodynamic breakthrough.”
Photo: Kevin Hackert | Shutterstock
The aircraft manufacturer advertised that the HondaJet Elite II’s range is 1,547 NM (2,865 km), with a maximum cruise speed at FL300 being 422 knots true airspeed (KTAS, 782 km/h) and a takeoff distance of 3,699 feet (1,128 meters). The landing distance with four occupants is 2,717 ft (829 m).
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