Would you like to rent a private jet? It is not just an unimaginable luxury. For some people, it is economically better because of how much time it saves compared to flying commercially. Of course, they cost a considerable amount, just like it costs to charter a yacht. But you can still charter a private jet quite affordably. Read on to learn more.
Why is it so expensive to rent a private jet?
There are several reasons. First, jets are expensive to make, just like usual planes. Their maintenance is also very costly, such as a million dollars a year for a large jet. Travelers also have to cover the costs of fuel, crew, landing fees, etc. Commercial airlines fly a large number of people almost constantly, so the cost divides among a large number of passengers. When you want to fly private, you will share the flight with just a few people (or none, if you want to fly alone), so the price is much higher per person.
So why do people choose them? There are two main reasons: saving time and luxury. If you fly with commercial airlines, you have to wait an hour and a half in the airport, get through security lines, constantly be in crowds and then sit among a mass of other people. This advantage is especially relevant for CEOs because an hour of their time is worth several hundred dollars and more. For example, Walmart has 20 private jets in Bentonville. With a private jet, an executive could visit three stores half a continent away in one day and come back to Bentonville. If they were to fly commercially, it would take at least three days. Check out the video below if you are interested in the economics of private jets:
Flying private is very luxurious too. The seats are much more comfortable, there is more leg space, there might even be a shower on the jet! You can bring your pet, enjoy dinner almost like at a restaurant: the food is usually very high quality. Private jets are also much safer during the pandemic because you do not board with a mass of other people and do not sit together with strangers.
Types of private jet charters
Before we answer how much it costs to rent a private jet, we must analyze what influences the cost of private jet charters. Type of plane is one of the essential factors: the bigger, the costlier. But we will get to that later. What also matters is the type of charter, of which there are two.
First, you can book directly from the company or use a broker company. When you book directly from the company, you pay hourly for all the time the airplane flies. It is known as the retail rate. While the price is lower than the live leg rate, you will also have to pay for all the taxes and fees. They include landing fees ($150 to 500), ramp and handling fees ($100 to 500), US segment fees ($4.30 per passenger), and federal excise tax (7.5%). There can also be de-icing fees, hangar rental, etc.
Another way is to use a broker company. Then you will pay only for the time you are on the plane: this is called a live leg rate. The broker company includes all the taxes in the amount. Of course, the cost is usually more than double. But this way is a lot simpler as all the fees are built-in.
If you want to learn more about the process of renting a private jet and various ways to rent one, click here.
Types of jets you can rent
Now that you know more about private jet charters, let’s look at the most important factor: jet size.
Light jets. They are the smallest available jets and the most affordable to charter. They can be classified into very light jets, small light jets, and super light jets. Very light jets might only fit four people, up to six, and are best for short distances. Small light jets usually seat 6-8 people and are better for long distances. Super light jets also fit 6-8 people but have enhanced size and comfort. The retail price to rent a light jet ranges from $2,000 to 4,000 an hour. The live leg rate is about $6,000 an hour.
Midsize jets. There can be midsize cabin jets and super-midsize cabin jets. These jets fit up to 9 people, and super-midsize jets can fit up to 10 or 12 people. You can usually fully stand in these jets, go to a lavatory, and more. They can also cover great distances, flying up to 7 hours, but can still access smaller airports. The hourly retail rate for midsize jets is from $3,500 to 5,000, while the live leg rate is about $8,000. Regarding super-midsize jets, the retail rate is from $4,500 to 6,000, and the live leg rate is about $9,000.
Heavy jets. These luxurious private jets can fit 12-19 people at maximum, depending on the model. They are even more comfortable, having pull-out tabletops, lavatories, Wi-Fi, divans, etc. There are also ultra-long-range heavy jets to have even more comfort and cover more distances. The retail rate for heavy jets starts from $5,000 an hour and can go up to $12,000.
Executive airliners or bizliners. Bizliners are the crème de la crème of private jets, a pinnacle of luxury jet travel. These jets can seat more than 20 people. Often, they are commercial planes converted into private jets. They can have private suites with closing doors, showers, cocktail bars, and more. In short, they are flying luxury apartments. Of course, they cost more too: the cheapest bizliners retail prices might start at $20,000 per hour but can go up to $70,000.
Tips for more affordable private jet rentals
You need quite a bit of money to rent a private jet, but that does not mean you cannot save and find more affordable deals. To spend less money on charters, consider this:
Take friends with you and split the cost. For example, if you charter a large private jet that costs $4,000 per hour and ten people board, it will cost only $400 per person per hour. In some cases, if you find four or so friends to share the flight with, it can cost less than flying with commercial airlines. Most importantly, you will experience all the benefits!
Negotiate with the operator for better deals. For example, if you want to fly to Hawaii and stay there for a week, the flight operator might want to fly back so they can charter the plane to other people. So the costs for you double. But you might be able to negotiate with the operator to stay in Hawaii for a week. Of course, you will have to pay for the crew, but it would be less expensive.
You can also consider empty legs flights: they usually have a 50% discount on the retail price. An empty leg is a flight when a private jet flies empty from one city to another because a customer booked a flight between certain cities. Such flights are, of course, very limiting: they are short-notice and very inflexible as you have to adapt to the original customer’s needs and wants. But you will pay much less than you usually would.
Finally, you can buy just one seat on a private jet and share it with other people during the trip. It is known as booking by the seat. It can be a good choice if you want to save but cannot find enough friends to share a flight with and split the cost. Booking by the seat might cost as little as $100 for a short flight.
We hope this article about renting a private jet was helpful and you learned something new. Perhaps you are also interested in limo services? Check out our article on the best occasions for a limo service.