Private Jet Rent - What cost should I expect?
Private jet cost rates can vary depending on a range of factors. Hourly rental rates for a private jet can cost anywhere between €2500 to €14000 for every flight hour. Private jets come in different sizes, with a selection ranging from turboprops to some of the most luxurious executive aircraft. The cost may further be impacted by several other factors, such as the type of aircraft, the location, airport fees, travel distance, and any additional services you may require.
Are you a frequent traveler? Have you ever felt that even the first-class service offered by commercial airlines falls short of your expectations? If you’re seeking a level of luxury and convenience that exceeds these experiences, you might be drawn to the option of chartering a private jet.
When it comes to choosing a private jet, you can opt for the most economical models, comprised of Turboprops, Very Light Jets, or Executive Light Jets, which generally rent at a lower hourly cost of €2600 to €3500 per hour. Midsize and Super Midsize Jets are a bit more expensive, with hourly costs ranging from €4000 to €8000. The priciest option is the Large and Ultra-Long Range Jets, which can cost up to €14000 per hour within Europe, and possibly more outside the continent.
Finally, the ultimate luxury VIP airliners like BBJs and ACJs in executive configurations may cost a fortune- typically anywhere from €16000 to €23000 per billable flight hour. Therefore, it’s important to consider all the variables when planning your next private jet rental so that you get the best deal for your requirements.
General overview of private jet cost, fees and prices
Private Jet Rental Price Factors
Private Jet Category
The private jet category refers to the size of the aircraft. It is relatively simple, the bigger the private jet the more expensive it is to rent it. Private jet prices start the lowest with Very Light Jets and end with VIP Airliner, from 2.500€ to 16.000€ per hour or more.
Private Jet Type
Each private jet category comes with a variety of private jet types. Some private jet types are slightly more expensive than others in the same category. The difference is mostly demand-driven and can vary between 200€ and 2000€ per hour between private jets in the same category.
Age of the Private Jet
Newer private jets usually cost more per hour compared to older private jets. The price difference can vary between as little as 50€ per hour, or up to 1000€.
Flight Time
The flight time, also called, the total billable flight time, includes positioning fees, time in the air, and potentially, a minimum usage fee if it is a short flight or a whole journey within a few days. This fee is calculated from take off, or wheels up, landing, or wheels down and does not include the time of the private jet on the ground, waiting, or taxiing.
Fees Applicable to European Flights
Landing Fees
Airports impose landing charges for facility upkeep, with costs ranging typically from 150€ to 500€. These charges fluctuate based on the aircraft’s size and weight.
Ground Services and Aircraft Parking Fees
These fees, set by the fixed-base operator (FBO) or General Aviation Terminal (GAT), cover aircraft handling and parking, ranging from 100€ to 500€ per visit. Fuel purchases above a certain threshold may result in these fees being waived.
Italian Luxury Tax (ILT)
The Italian Luxury Tax, also known as the Aero Taxi Tax, applies to passengers on private jet flights arriving at or departing from Italian airports. This tax, implemented in 2012, varies based on the distance of the flight:
- For flights less than 100 km, the tax is 10€ per passenger.
- For flights between 100 and 1,500 km, the tax is 100€ per passenger.
- For flights over 1,500 km, the tax increases to 200€ per passenger.
United Kingdom - Air Passenger Duty (APD)
The UK Air Passenger Duty (APD) for flights starting from 1 April 2023 to 31 March 2024 has been structured into four bands: Domestic, Band A, Band B, and Band C. These bands are determined based on the distance from London to the destination capital city. The rates vary depending on the class of travel and the weight of the aircraft.
- Domestic Band: This applies to destinations within England, Scotland, Wales, and Northern Ireland. The reduced rate is £6.50, the standard rate is £13, and the higher rate is £78.
- Band A (0 to 2,000 miles): Covers destinations within this distance range. The rates are £13 for reduced, £26 for standard, and £78 for higher.
- Band B (2,001 to 5,500 miles): Encompasses destinations within these miles. The rates are £87 for reduced, £191 for standard, and £574 for higher.
- Band C (over 5,500 miles): Applies to destinations beyond 5,500 miles. The rates are £91 for reduced, £200 for standard, and £601 for higher.
The classification of the rates depends on the class of travel:
- Reduced Rate: For travel in the lowest class of travel available on the plane with seat pitches less than 1.016 meters.
- Standard Rate: For travel in any other class or where the seat pitch is more than 1.016 meters.
- Higher Rate: For travel in planes of 20 tonnes or more equipped to carry fewer than 19 passengers.
The classification of the rates depends on the class of travel:
- Reduced Rate: For travel in the lowest class of travel available on the plane with seat pitches less than 1.016 meters.
- Standard Rate: For travel in any other class or where the seat pitch is more than 1.016 meters.
- Higher Rate: For travel in planes of 20 tonnes or more equipped to carry fewer than 19 passengers.
For flights originating from Northern Ireland, there is no duty on direct long-haul flights. However, flights within the UK or to band A destinations are subject to the same rates as those from other UK airports.
Additional Costs & Fees
Short Leg Fee
This fee applies generally to larger private jet categories and is set by the owner or operator of the aircraft for flights below a certain duration. In Europe, the industry standard utilization is two hours per day of billable flight time but it might vary from private jet to private jet.
Crew Hotel
If your journey goes on for days, the owner might charge crew hotel, so-called overnight fees. That covers the per diem, hotel and other costs related to being away from home.
Private Jet Positioning Fee
Private jet positioning fees are based on the amount of flight time used to position the aircraft to pick up passengers and for the private jet to return to its home base.
Internet & Wi-Fi Fees
The cost of Wi-Fi on flights can vary significantly, with fees ranging from 3.00€ to 8.50€ per megabyte, depending on the region. For a flight from Europe to the USA, the total cost for Wi-Fi usage could range from 3.00€ to as high as 6000€, depending on data consumption. To accommodate passengers, a broker can often arrange for an aircraft that offers complimentary Wi-Fi, especially when it is practical to do so. Additionally, Wi-Fi has become a standard feature on most modern aircraft, providing greater connectivity for passengers during their flights.
Hangar Fees
When parking an aircraft overnight a hangar fee most commonly applies. Especially for airports with icing conditions, a hangar can avoid costly de-icing costs. Depending on the size of the private jet, cost can be anywhere between 500€ and 1500€ per day.
De-Icing Costs
Whenever the departure is happening from an airport within icing conditions, which includes snow, ice, and even frost, an aircraft de-icing becomes necessary. It is charged per application and can cost from 1500€ up to 10000€, depending on the size of the aircraft and the required amount of de-icing fluids.
Cleaning Fees
In instances where an extensive cleaning is necessary due to unexpected incidents, additional charges may apply. These can include in-depth cleaning services and carpet shampooing. Typically, the cost for a thorough carpet shampoo ranges from 250€ to 500€, though prices can exceed this range depending on the specific circumstances and requirements.
International Fees
International fees for aviation events can vary significantly, ranging from 500€ to 5000€ or even higher, depending on the event and the geographical area. These costs encompass a variety of charges, including landing and overflight permits, as well as customs and immigration fees. The specific fees incurred are determined by the flight route and the destination country’s regulations.
Fuel Surcharge
When fuel prices in the market experience a significant increase, a fuel surcharge may be applied. This surcharge can potentially add a cost of 600€ to 900€ per hour or more, with the exact amount varying based on the size of the aircraft. Paramount Business Jets typically include fuel surcharges in their rental prices, except in cases where it is explicitly stated otherwise.
Concierge Services
Special In-flight Catering
On all flights, standard snacks and beverages are included. Custom catering costs can vary based on your order. You can easily expect to spend 500€ to 1500€ for a lunch of 4 passengers. A quote for a special catering will be provided for your approval with Velocity.
Ground Transportation and Transfers
Depending on your location, length of transportation, and passengers to transfer, ground transportation can cost anywhere between 100€ to 2000€ per reservation or more, based on your specific needs. If you require ground transportation, we will provide you with a quote for your prior approval.
Concierge Services
Our concierge service includes in-flight spa services, celebrity chef services, special event ticket bookings, hotel supervision, and resort bookings. If you desire our team to handle your planning, a quote will be provided for our prior approval.
Hourly rental rates and prices by private jet category
Very Light Jets
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Passengers: 2 - 4
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Range: 2:45 - 3:15
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Speed (KIAS): 330 - 371
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Cabin Height: 1.2m - 1.4m
Light Jets
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Passengers: 6 - 8
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Range: 2:45 - 5:15
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Speed (KIAS): 330 - 420
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Cabin Height: 1.2m - 1.6m
Super Light Jets
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Passengers: 6 - 9
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Range: 2:45 - 5:30
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Speed (KIAS): 390 - 460
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Cabin Height: 1.4m - 1.7m
Midsize Jets
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Passengers: 8 - 9
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Range: 2:45 - 8:30
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Speed (KIAS): 390 - 470
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Cabin Height: 1.6m - 1.8m
Heavy Jets
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Passengers: 8 - 13
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Range: 5:45 - 9:30
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Speed (KIAS): 390 - 480
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Cabin Height: 1.7m - 2.1m
Long Range Jets
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Passengers: 8 - 15
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Range: 8:45 - 13:30
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Speed (KIAS): 410 - 510
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Cabin Height: 1.7m - 12.0m
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The benefits of private jet charters over owning private aircraft
When you consider everything that comes with flying commercial – the long security lines, inevitable flight delays, crowded cabins, limited food options, mass confusion at baggage claim, and the added safety concerns due to a global pandemic – it’s no surprise as to why some frequent flyers opt to purchase their own aircraft. However, a new private jet could run anywhere from $3 million to $90 million, depending on what kind you’re looking to buy.
Jet ownership is attractive, but costly.
Once the jet is purchased, you’ll also have to pay for any necessary maintenance, insurance, hangar fees, jet fuel, and staff to operate it, which could quickly soar to hundreds of thousands of dollars per year. Not to mention that a majority of the time, your investment will be sitting on the tarmac, depreciating in value. Private jet ownership, while a somewhat attractive option, is also costly.
Renting a Private Jet is a asset-light, no-commitment choice.
These astronomical costs are why many savvy private flyers choose on-demand, asset-light, no-commitment solutions like the ones that Velocity offers. Whether you’re an occasional flyer or travel frequently, Velocity meets every type of private aviation need. Before making such a large purchase, weigh your options, and you may find that renting a private jet may be the best choice for you and your wallet.
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