When you’ve had enough with traditional commercial air travel, private jets can offer you the relaxing and satisfying treatment you crave, whether you’re on your way to a business conference with colleagues or a family gathering with your spouse and little ones.

And private jets can be booked via charter services, bought outright or leased. If you’re interested in the level of commitment that comes with leasing a private jet, it’s important to understand the costs before signing the agreement.

From the type and condition of the aircraft to the distance and duration of the flights, there are many variables that contribute to the overall cost of a private jet lease. Below, we’ll cover those factors, the costs associated with private jet leasing, and reasons you might consider private jet charter instead.

6 Factors that Impact Private Jet Lease Costs

The actual cost of private jet lease can vary from one jet to another based on factors like type of aircraft, fuel needs, and overall availability. Let’s take a closer look.

1. Type of aircraft

The aircraft type is one of the most significant factors of costs associated with leasing a private jet. Different types of aircraft have varying performance capabilities and features that come at an expense, which will ultimately determine the overall private jet lease cost.

And of course, in most cases, the larger the aircraft and the longer the distance it goes, the more expensive it is. So if you’re looking for an ultra long range aircraft that can fly you across the country on a regular basis, this may impact your budget and what you’re willing to pay.

2. Age and condition of the aircraft

Another factor that determines the cost of a private jet lease is the age and condition. Older, used aircraft models will be less expensive in comparison to newer aircraft models with the latest features and technology.

3. Distance and flight duration

How often do you plan on flying in your private jet? How far are you planning to fly? These are two important questions to answer before you consider leasing a private jet, because the more often you fly, the more you need to prioritize regular maintenance and servicing, which also comes at a cost.

4. Fuel

Fuel prices and consumption are other important factors to consider. The size of the aircraft and the distance you plan to travel will determine how much fuel you need to budget for when you sign your private jet lease.

5. Maintenance and operating costs

Maintenance and servicing are two critical factors to ensure the private jet is in excellent running condition and safe enough for passengers. Deploying regular maintenance and operations servicing to the private jet is something you also have to commit to when you sign a lease.

6. Availability

If you have a specific model aircraft in mind that you want to lease, it could cost you more based on its availability. This makes it very important to do your jet research in advance before you decide to commit to a lease; understanding market trends and availability will put you in a better position to make the best decision for flying via private jet.

Businessman using laptop on a private jet

Costs Associated with a Private Jet Lease

The exact private jet lease cost is hard to determine, since there are so many critical factors that impact the overall price. And much like leasing a car, there are various costs associated with private jet leasing. From the down payment to taking care of flight crew salaries, there are a lot of recurring expenses that you need to pay while leasing a private jet.

1. Down payment and other upfront costs

The security deposit or down payment of the private jet is one of the initial costs you have to pay regarding your new lease. Most down payments are between 15% and 20% the overall cost of the private jet lease. Other upfront costs include acquisition costs like registration and legal fees.

2. Lease payments

The lease payments are the most obvious expense, and will vary greatly depending on the type and size of the aircraft, as well as the lease terms and any other personalizations to their agreement.

3. Insurance

Private jet insurance policies will also range based on lease terms, how often you fly and the style of the aircraft, but you can expect to pay between $10,000 per year to $500,000 per year.

4. Crew salary

Leasing a private jet puts you in charge of hiring and maintaining a flight crew. You need to hire pilots, flight attendants, and maintenance staff to meet regulatory requirements and fly safely and comfortably.

5. Hangar fee

Secure private jet storage is key to keeping your aircraft safe and well kept, but the storage comes at a cost. According to EliteTraveler, private hangar rental is about $3,000 per month.

6. Maintenance and other expenses

Fuel, maintenance and management are all expenses to consider if you’re thinking about leasing a private jet. However, the costs associated with all of these factors will be mainly based on how often you plan to travel via private jet.

Remember: All of these expenses, beyond the down payment of the private jet lease, will be recurring costs. Private jet leasing is an expensive option, especially if you’re in it for the long haul.

Reasons to Consider a Private Jet Charter Instead

If you’re interested in flying privately without the commitment of leasing, a private jet charter is worth the consideration. This is especially true for someone who doesn’t travel on a frequent basis – a private jet charter allows you to pay only for the flights you need without the obligation of signing a thorough, lengthy contract.

The flexibility of private jet charter is nearly unmatched. You can choose the type of aircraft and features that best suit your needs, all while picking a flight time and day that fits perfectly in your travel schedule.

Private jet charters are also considered a hassle-free travel experience. The charter company of your choice will take care of everything from the booking of your flight, to hiring the crew and scheduling pre boarding maintenance. All you have to do is show up and fly in style.

Choose Stratos Jet Charters

If you’re looking for the luxury of private jet travel without committing to a private jet lease, consider flying with Stratos Jet Charters instead. We offer a flexible private jet charter flight experience to and from any destination in the world, whenever you need it. This allows you to enjoy the private jet charter life without attaching your name to it.

Interested in booking a flight? Our knowledgeable private flight advisors are available 24/7 to answer your questions. Reach out to us today to learn more.