Jet charter companies are being more innovative in the current climate. Due to many businesses trying to squeeze the most out of their budgets, and in some case ‘sweat the assets’, private jets have been at the sharp end of these changes. Despite this however there will always be wealthy individuals around, whether these are celebrities, business executives, politicians or members of royal families. For these people budget really isn’t a consideration, however the majority of private jet customers still want to get the best value for money.
To make this possible there have emerged jet charter comparison websites (similar to other flight comparison sites) and these companies act as brokers – dealing directly with purchasers and aircraft providers. Charter companies themselves may own their own fleet of private jet aircraft ranging from light-jets such as the Cessna Citation (as shown on the right), to larger jets such as the Falcon 2000.
Charter rates are provided on a fully bespoke basis, with an individuals specific requirements forming the basis for the quote for jet hire. Prices are generally lower when the flight can be shared – in the sense that the return leg may be hired by another customer rather than being wasted. Unlike taking a traditional airline flight, when chartering a private jet you have the freedom to choose wherever and whenever you want to fly. The only limit is the size of your wallet!
Having said that, chartering a jet is quite a sensible use of a business’ money, especially when you contrast it to purchasing a jet outright. The purchase and maintenance costs of a jet aircraft can be prohibitive, so you can save money by chartering the plane just for the time that you need it. Hire companies are also keen to win your business, so they will always be aiming to be competitive on price.
As shown on our homepage, prices vary drastically based on the size and complexity of the aircraft you want to hire. They are typically classified into light jets, mid-size jets and large full-size jets. Age and the level of luxury is also another factor in determining the cost – for example an old Learjet will probably cost less to hire than a new Citation Mustang for example. Having said that, fuel economy savings may also compensate with a new aircraft.
Rough Prices for Chartering a Private Jet
Here are some sample prices for chartering the different categories of business jet:
- Light Jets – $5,400 per flight hour
- Mid-size Jets – $8,800 per flight hour
- Full-size Jets – $12,800 per flight hour
Obviously these prices are very approximate, and as mentioned previously the actual price would depend on many different factors. Geographical location is also likely to play a key, with significant price differentials between hiring a jet in the US, and in Europe.
Jet Charter Card
There are certain private jet companies that offer jet hire cards which entitle business executives a set amount of flight hours that they can redeem for same-day return business travel across the continent. These jet cards don’t come cheap however, as the most basic one will set you back approximately $200,000. If you’re a big business that uses private jet travel a few times a year then it may well be more cost effective to purchase one of these cards.