Buying a private jet for personal or company use is a big commitment, but with plenty of benefits. Private flying opens up an easy way to travel. Itineraries can be flexible, and flights are more comfortable and productive. You will get the most out of a private jet, though, if you consider some important factors first.
Guides For Private Jet Owners
Be Clear About Expected Flight Use
You should look at how much the aircraft will be used and the expected typical flight durations. Having the right aircraft to meet these requirements is very important. If you know you will take longer, international flights, you must look at an aircraft that can handle this. If you know you will use smaller airports or FBO’s for private jets, you want to ensure your chosen aircraft can land and take off there. Of course, it makes sense to think about future use as well.
Consider Passenger & Luggage Requirements
How many passengers will be using the private aircraft at one time? Do you need the ability to take larger groups of guests or clients? All private aircraft have a fixed maximum capacity, and you don’t want to be short of what you need. Likewise, look at how much luggage the aircraft can hold and what luggage is suitable for your private jet. While all aircraft should handle a couple of large bags per passenger, if you need to carry additional or specialized equipment, make sure you consider this.
Choose the Right Aircraft
Ensuring you purchase the right aircraft for your personal or business needs is vital. Bigger is not always better here. You want an aircraft that will fly the routes you need to and offer the right capacity. But larger aircraft are more expensive to buy and to operate. You may also want to consider personal preferences for aircraft interiors and practical issues such as airport storage options and pilot availability for the type.
Read some of our guides on the most popular private jets below:
Ensure Private Ownership Makes Sense
Once you know the aircraft you need and the expected usage, you can determine if private ownership makes sense. Compare the expected costs of private aircraft purchase and operation against aircraft charter costs, shared ownership – or even commercial options. Take into account the full cost of operation – including scheduled and unexpected maintenance, hangar storage, insurance, crew, fuel and routing costs.
You should also consider if you plan to make the aircraft available for charter. This will affect how flexible you can be with your usage, but it will help offset some costs.
Buying a New or Used Aircraft
This is an important question with both options having advantages. A used aircraft will be cheaper. Maintenance costs are likely to be higher, though. If you opt for a much older aircraft (most private jets have a serviceable lift of up to 50 years), fuel efficiency and older equipment should also be considered. Bear in mind that fittings and interiors can be updated and replaced, so this should be less of a consideration than the airframe, engines, and avionics.
Buying new will enable you to choose your specifications and benefit from the latest upgrades and technology. A new aircraft will likely need less maintenance and will also have certain warranties offered by the manufacturer. This can affect long-term costs as well as reliability and time out of service.
Final Thoughts
Buying a private jet is exciting, and the world of private flying offers a great deal. Take the time to make sure you fully understand what you need to get out of private jet, and what it will cost. Hopefully, you will get many years of use and benefit from an aircraft if you make the right choice.
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If you have any questions about what you should know before purchasing a private jet, feel free to contact our team today for more information.
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