How Much Does It Cost to Charter a Private Jet? Top Four Factors Determining Prices

If you’re a regular first class or business commercial flyer, you’ve probably looked at the crowds or long queues in busy airports and wondered: How much does it cost to charter a private jet? Especially if you are travelling with co-workers. The answer is: perhaps more than you think. To be frank, it comes down to your value per man hour or another way to say it is, how much is your time, privacy and comfort worth? If your time is not worth a lot, it won't save you money.  

How Can Private Jet Travel Save Your Time?

Private jet travel offers:

• a much greater choice of airports, meaning more direct travel, and shorter or eliminated transfers at both ends

• less time wasted at the airport (no early arrivals, long check-in queues or long waits for luggage collection)

• fewer hotel stays while you wait for meetings and return flights; with private jet charters, you travel when you want to, not when airlines can get you there 

• comfort and privacy, both in your private lounge and on-board, allowing you to work, meet and discuss confidential business matters during your trip. 

That’s all very well, we hear you say. But we still want to know: how much for a private jet charter? Can I afford it, for me or my business?

How Much Is It to Hire a Private Jet? That Depends!

Here at Paramount Business Jets, when customers ring and ask how much does jet charter cost, we explain there are many factors to consider.

Four Main Factors Affecting Private Jet Charter Cost 

1. Aircraft Category

Aircraft are ranked in categories according to size. Generally, the bigger the aircraft, the more you pay. From very light jets to ultra-long-range jets, private jet prices vary from $2,000 to $11,000 per hour or more.

2. Aircraft Type

Within each category, there are different aircraft types with varying capabilities and facilities. Some may be slightly more expensive than others due to market demand, so prices within a category can vary by $200 to $2,000 per hour or more.

3. Age of Aircraft

Newer aircraft are more expensive to hire. Aircraft age can make a difference of $100 to $1,000 per hour or more.

4. Billable Flight Time

The total billable flight time isn’t just time in the air. It also includes positioning fees and, when applicable, the industry standard (a minimum of 2 hours per day). 

Additional Fees Affecting Private Jet Charter Cost

Additional fees include:

• Landing fees charged by the airport authority to maintain the facility. They vary between $150 to $500 depending on the airport and the aircraft size and weight.

• Ramp and handling fees charged by the fixed-base operator to handle the aircraft, from $100 to $500 per visit (sometimes waived if a minimum amount of fuel is purchased).

• US Segment Fees charged by the government, variable by region and calculated per passenger: $4.50 per passenger, per leg.

• Federal Excise Tax charged for all US domestic flight legs at a rate of 7.5% on the amount paid for air transportation.

Possible additional fees will relate to certain trips, destinations, customer requirements and provided services. They can include fees for: crew overnights, short legs, aircraft positioning, hangar storage, Wi-Fi, deep cleaning, de-icing, fuel surcharges, aircraft daily minimums and various charges and taxes when flying internationally. If you arrange additional services, such as a concierge or transfers, this will incur costs too.

As you can see, there’s no simple answer when you ask, how much does it cost to charter a private jet? But luckily, that’s not your problem. We do the calculation for you!

What Is the Cost to Charter a Private Jet? Sample Costings

As an example, let’s look at a trip between Minneapolis and Phoenix. 

Sample costing: Minneapolis to Phoenix Round Trip. 

Tax rates used are 2022 tax rates.

• Flight cost: The total distance for this round trip is 2,552 miles. Divided by the average speed of 400 mph, this equals a total flight time of 6.4 hours. Add 30 minutes per trip (15 minutes for take-off and 15 minutes for taxi), and we get a billable time of 7.4 hours. The flight time is multiplied by the hourly rate of $3,750, resulting in a total of $27,750. Flight time minimums of 6 hours (3 days × 2 hours) have been exceeded here, so we don’t need to worry about them. 

• Crew cost: Average overnight costs and per diem for the crew are $750 per night for a 2-person crew, totaling $1,500.

• Landing fees of $1,000

These figures give us a subtotal of $30,250. Then we add segment Fees of 4.50 per passenger, per flight leg, for 4 passengers ($36.00) and finally, the 7.5% FET. This gives us a final all-inclusive charter price of $32,554.75.

For an example of a multi-leg trip costing, check out the example on our site.

Is It Cheaper to Buy a Private Jet or Rent One?

This is another question to which the answer is: it depends! And the main things it depends on is how often you fly, where you fly to, who you take along. It also depends on how much you value convenience and a lack of stress! So, before you decide that having your own jet ‘on tap’ is easier, consider the factors below.

• Once you’ve bought a plane, it’s only cost-effective if it’s ideal for all your flights. Does it have the range, capacity, and capabilities for all the flights you take? And the facilities you need—a full galley, a shower, a meeting room? Or will you still need to charter flights for bigger groups, more distant destinations etc.?

• Are you prepared to recruit, employ and pay a pilot and crew—who will expect a retainer if you expect them to be constantly available?

• Do you often make back-to-back journeys or need flights at short notice? Your crew will need rest between flights, meaning you may often have to pay chartering costs on top of your ownership expenses.

• The costs of maintaining and flying aircraft have risen steeply in recent years, causing private jet ownership to fall. Think beyond fuel and crew to hangar fees, insurance, maintaining galley and technological equipment…the list goes on!

Chartering offers much more convenience and flexibility, and far less hassle and stress—plus a host of other bespoke services. In the long run, while ownership may seem prestigious, it’s unlikely to work out cheaper.

Private Jet Charter: Well Worth the Price!

Next time you’re standing at the conveyor belt waiting for your luggage, you won’t have to ponder how much it costs to charter a private jet. You’ll understand the costs involved, and the time and as a result the chartering could save you. And when you want an exact and transparent quote for your next flight, we’ll be here! Just fill out our simple online quote form or contact our helpful team. You can call them on +1-877-727-2538 ext. 1 or email them at charter@paramountbusinessjets.com.