Summary

  • The Boeing 757 transitioned to a sought-after private jet, with prices ranging from $20 million to $40 million for pre-owned ones.
  • High customization needs drive up the price – gold-plated furnishings, marble, advanced tech, and lavish amenities are a big factor.
  • The high operating costs of the Boeing 757, including fuel consumption, maintenance, hangar storage, and crew salaries, make it astonishingly expensive.

First introduced in the 1980s, the Boeing 757 immediately became a popular aircraft choice by many airlines worldwide, thanks to its impressive range, profitable capacity, and excellent performance. Although the type has mostly disappeared from the commercial aviation sector, it continues to thrive healthily in the private aviation industry after becoming of interest to numerous high-profile flyers.

These flyers include high-net-worth individuals, prominent and private corporations, and even government officials. Seeing as how the Boeing 757 has transitioned from being a once-popular commercial aircraft to a now highly sought-after private jet, one might wonder how this change affects the price of the aircraft. Let’s find out.

What is the base price of a Boeing 757?

While the actual base price of a single Boeing 757 in the 1980s is uncertain at this time of writing, it’s worth noting that the initial list price for the -200 variant was about $45 million in the 1980s before it dropped to between $36 and $37 million. As another rough gauge, the bulk orders from the airlines back then saw prices of approximately $2 billion for fifty of these medium-to-long-range aircraft going to American Airlines.

British Airways and Eastern Airlines’ orders for a total of 40 of the Boeing 757 back then also saw an estimated cost of $1.3 billion. However, since Boeing ceased aircraft production in 2004 due to high production costs, the only place available to get the aircraft would be the pre-owned market. In today’s prices, a used Boeing 757 aircraft still configured for commercial aviation goes from as low as $1.5 million to as high as $10 million.

But when looking at the price of a privately configured pre-owned Boeing 757, the difference is quite significant, with prices starting from around $20 million at least and upwards to $40 million. While keeping in mind that those prices are for pre-owned aircraft, private owners such as ex-US President Donald Trump have a prized Boeing 757 private jet that costs a massive $100 million, and Chelsea Football Club owner Roman Abramovich has the same aircraft that is priced at $170 million.

What makes the aircraft so expensive?

Considering the significant jump in prices for a pre-owned commercially configured Boeing 757 and a private jet-configured version of the aircraft, one might question why. Once an owner acquires a pre-owned Boeing 757, they will most definitely want to beautify the aircraft according to their personal preference, aesthetics, and usage, hence the pain to their wallets.

These customizations often contribute the heaviest to the private jet’s overall pricing, and can include options such as changing the interior layout and configuration. Some owners would want private sleeping quarters, bathrooms, living quarters with kitchens, meeting rooms for business talks, and other different quarters. There’s also the use of luxurious materials, such as how some owners would want gold-plated furnishings, while others would prefer expensive marble instead.

There’s also the customization option to include a lot of high-end technology. For instance, Abramovich upgraded his Boeing 757 private jet to include a master bedroom, a dining room, a lounge, a kitchen, and an office, as well as a radar jamming device, an anti-missile system, and even bulletproof windows for top security. As for Trump’s private jet, the ex-president has a bathroom with a gold-plated sink, a state-of-the-art entertainment system, a video conferencing system, and even a satellite phone system.

Any other contributing factors?

Besides the personal customization options, the high price for a Boeing 757 private jet can also be attributed to the high operating cost of the aircraft itself – which was primarily what played into its eventual demise from the commercial aviation industry. With fuel prices being a long-term significant expense, the inefficient fuel consumption of the Boeing 757 makes it an extremely expensive aircraft to operate, especially for long-haul flights as fuel cost could average at least $7,000 per hour of flight.

Then there is also the required hangar storage and additional fees, as the Boeing 757 is no small aircraft and owners would have to incur quite a hefty expense when the aircraft is on the ground. On average, the annual hangar expense for this aircraft can be around $175,000, and when paired with the insurance premium for the aircraft, which is likely substantial due to its size and high value, the total is already likely over $300,000.

A Private jet cabin crew serves two passengers onboard a KlasJet aircraft.

Photo: Klasjet

Not forgetting the required maintenance and repairs for the aircraft, which can cost around $1,700 per hour for the maintenance labor and about $1,400 per hour for the parts. In addition, overall crew salaries to the pilots, flight attendants, technicians, and contractors could total at least $700,000 per year, and training expenses per annum could add up to at least $125,000, so it’s beginning to make sense why the Boeing 757 private jet is shockingly high as owners are paying at the very least, over $6 million per year for it.

Are charters equally expensive?

Despite the overwhelmingly high price tag, the Boeing 757 private jet still appeals greatly to certain buyers worldwide due to the aircraft’s relatively impressive specifications concerning range and performance and its large cabin that provides ample space for unlimited customization to their preferences and needs. But since owning a Boeing 757 private jet might not be the best financial decision, some might look into chartering it for flights to get the experience.

For some, chartering might also help with savings as, on average at this time of writing, the hourly rate for chartering a Boeing 757 private aircraft is around $19,800 per hour, which is slightly pricier than the average hourly rate of chartering a Boeing Business Jet for about $16,800. However, there are slightly more expensive private charters – such as special and exclusive flight journeys across the globe with international five-star hotel chain Four Seasons on its VIP-configured Boeing 757 private jet.

Nicknamed the Four Seasons Jet, this aircraft is fitted with a luxurious interior of comfortable lie-flat seating, a kitchen with locally sourced food, and even an onboard chef and physician. This charter welcomes high-net-worth individuals for different 10-day trips to destinations worldwide with the hotel chain’s holiday packages, for a price of around $2 million just to charter the aircraft.


  • 787-8 Dreamliner

    Boeing

    Stock Code:
    BA

    Date Founded:
    1916-07-15

    CEO:
    Dave Calhoun

    Headquarters Location:
    Chicago, USA

    Key Product Lines:
    Boeing 737, Boeing 747, Boeing 757, Boeing 767, Boeing 777, Boeing 787

    Business Type:
    Planemaker

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