How much to charter a private jet- A Beginners Guide
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My partner & I took our daughter & Our pet cavoodle to Sydney from Melbourne on a Private Charter jet. It indeed was a great Experience.
Private aircraft are becoming increasingly popular not just due to the sumptuous atmosphere that surrounds them but also because of the privacy that they provide, which is especially important in these times…
When we decided to fly private, we had many questions in our minds like how much to charter a Jet… I did a Lot of Research and found this info – I Hope this will help you to decide
Because of the recent COVID-19 pandemic, an increasing number of people are searching for ways to rent private jets because of the flexibility and convenience they provide. Nevertheless, the issue of safety is perhaps the most essential benefit that can be gained from private travel.
The private aviation industry is a prime example of a sector that has reaped significant economic benefits as a direct result of the global Covid-19 pandemic.
Because of worries about their own health and safety, an increasing number of people are choosing to fly privately chartered aircraft rather than take commercial flights, which has resulted in a boom in the delivery and business travel industries.
The numbers are so staggering that they make mere mortals question the amount of wealth that exists in the world. In order to get a better idea of the scale of the private aviation industry, let’s take a quick look at some of the statistics that surround it.
Following that, we will discuss some interesting facts and trends regarding the private aviation industry.
Let’s take a look at the Stats
The Private jet Charter Stats
- The global business Private jet market reached a value of US$ 17.6 billion in 2021. In the future, the market is projected to reach USD 36.94 Billion by [2021-2028]
, exhibiting a CAGR of 4.4% during 2022-2027( Source)
- In the year 2020, there were 2.15 million privately chartered flight journeys. In the year 2020, there was a notable increase in the number of people flying on private charters all over the world due to the uncertainty surrounding the pandemic.
- Forecasts from the aerospace industry predict that between 6,362 and 7,300 new jet deliveries will occur in the next 10 years at a value of between $204.4 billion and $236 billion.
- According to the data, sales of private aircraft are expected to surpass $235 billion by the year 2030. In point of fact, revenue will surpass $235 billion before the end of this decade. There is certainly enough momentum to keep the private aviation industry skyrocketing, and there is no limit to where it can go because the sky is the limit.
- It is estimated that there are 21,979 business aircraft jets in operation across the globe.
- There were 15,547 private jet aircraft in North America, which was a greater number than in any other region combined.
- Europe had 2,760 private aircraft, which was the second highest in the world.
- Only 230 operational business aircraft were present in Australia and Oceania.
Private Jet Charter Prices- the Complete Guide
The following are the primary factors that determine the total cost of renting a private jet:
- Flight time that can be billed to the customer is calculated using the hourly rate of the aircraft as well as the total number of flight hours
- Fuel Surcharge: These fees change depending on the kind of aircraft, the distance flown, and the cost of the fuel.
- Crew Fees – Per diem payments, hotel fees, meals, etc.
- On top of all other fees, domestic flights are subject to an additional tax of 7.5% called the Federal Excise Tax (FET).
- Charges for landing, handling, and other incidental costs differ depending on the type of aircraft, airport, and various other factors.
When flying privately, how is the amount of billable flight time determined?
The majority of a private jet charter’s overall cost is comprised of the billable flight time fees. An hourly rate is what is given to the person who owns the plane as payment for this expense.
Flight time spent in the air, in addition to any additional repositioning fees and/or daily minimum flight time adjustments, is referred to as billable flight time. Time spent on the ground is disregarded when calculating billable flight time.
You decide to fly from NYC to Los Angeles in a single direction and make your reservation.
In a light jet, the flight takes approximately 5-7 hours to complete.
Your billable hours could be billed in the following manner given that the majority of aircraft have a daily minimum flight time commitment of two hours:
- Average flight time: 5–7 hours
- Passengers: 8-9 Passenger Configurations
- One-Way: $34,000 – $40,000*
- Round-Trip: $60,000 – $80,000*
What’s the Difference Between First-Class and a Private Jet Charter Flight?
A Comparative Look at First-Class Seating and Private Jet Charter
There are two distinct classes of service available when flying: private jet charters and first class. Both options require the passenger to pay a significant sum of money in order to have the privilege of boarding the vehicle.
These two methods of flying in the air are not even remotely comparable to one another, despite their superficial similarities.
When you fly first-class on a commercial airline, you are still subject to the route that is determined by the airline, whereas when you charter a private jet, you can maximise the amount of time you spend at your destination and minimise the amount of time you spend travelling.
- First-class flights on commercial airlines can’t compare to the personalised services and amenities that private planes can provide.
- If you are flying internationally, first-class travel might be a more cost-effective option than renting a private jet.
- If you are travelling by yourself, purchasing a seat on a charter jet will typically cost you more money than flying first class.
- Although it costs a significant amount of money to fly on a private jet or in first class, either option provides passengers with amenities that are not available in the economy cabin of a commercial flight.
- Executives, whose time is just as valuable as their money, almost always find it more cost-effective to fly on private aircraft.
The price of chartering a private jet is determined by a number of different factors, beginning with the fundamental trip details.
When comparing one-way jet charter prices, the following is the most important information to keep in mind:
- Every aeroplane has a home base, and even when it’s used to get to other places, it eventually has to circle back around to its original location.
- When a plane returns to its home base after making a one-way flight, the charterer typically is responsible for paying for the time that the plane was flying “empty.”
- The owners of the aircraft sell this “empty” flight time to other customers at the value of point-to-point travel.
- “empty legs” or “dead head” flights are the terms used to describe charter flights that are sold using this method.
- Any charter service provider should have as one of their primary goals the generation of consistent value for their customers when it comes to one-way flights.
- Keeping these fundamental aspects in mind, we can now discuss the operation of one-way flights as well as ways to reduce the expense of chartering a jet for a trip that only goes in one direction.
Spending Money on an Empty Flight
If you do not utilise the services of a private jet broker and do not have a jet card or a fractional share, it is possible that you will be flying with a local fixed-fleet operator in your area.
When you make a reservation for a one-way charter with a company that operates a fixed fleet, one of two things will typically take place:
- You board a plane that is based in Point A, and it flies you to Point B before making its way back to Point A.
- You will be transported to Point A by an aeroplane that is based in Point B, and then you will be returned to Point B.
- In both of the examples that were given earlier, you are the one who is responsible for footing the bill for the plane to travel a certain distance while it is “empty.” Remember that your plane has to fly all the way back to where it originated?
As a result of this, the prices of many one-way flights are the same as the rates for round-trip flights in terms of the billable flight hours that the charterer pays for.
If you do not pay for the empty air time that your one-way flight creates, the owner of the plane will experience a loss in revenue. Charges for flying an empty plane can significantly drive up the overall price of chartering a jet.
In spite of the pandemic, private air travel has been on the rise.
In point of fact, there is such a high level of interest that many companies that rent out private jets are facing a different challenge: keeping up with the demand.
According to the private aviation company VistaJet, new memberships for the first half of 2021 are up 53% compared to the same period in 2020, with Europe bringing in the greatest number of new members (51%).
“It’s no surprise that searches for ‘charter travel’ have increased by 520% over the last 12 months,” said CEO of the flight website Next Vacay. “Charter travel” is a term that refers to the renting out of private aircraft for use by individuals. In the past year, searches conducted all over the world using the phrase “if you wanted to take a private plane” have increased by a factor of 1,100%.
According to the founder of Advanced Aviation Team, a private jet broker based in Virginia, the majority of people who have the financial means to fly privately do not do so. Because of the pandemic, many of those people made their very first reservation on a private jet for the very first time.
“People… have come off the sidelines,” he said. “People are getting involved.” “It wasn’t just wealthy individuals with the means to do it; governments were also using them. They were a way to move around supplies, so even during the shutdown, our business picked up pretty rapidly( Source)
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