How Are Private Jet Prices Calculated?
In the on-demand world of luxury air travel, many travelers wonder, ‘What determines private jet prices?’ Well, there are a number of factors that go into calculating the private jet cost for a particular flight.
Coordinating Flight Details
When you contact private jet brokers, they’ll discuss your requirements for the trip:
- Type of jet
- Number of passengers
- Distance of journey
- Length of stay
- One-way or round-trip
Once the agent has this information, they’ll supply you with their best quote.In general, the shorter the trip, the lower the private jet prices will be. For instance, a quick round-trip from Los Angeles to Las Vegas on a light jet might set you back about $7,500, whereas a return trip from LA to London on a full-sized Gulfstream IV could be in the range of $160,000-180,000. The length of stay plays one of the biggest roles in determining jet charter pricing. Charter aircraft ideally spend at least two hours in the air each day to meet a minimum daily revenue goal. That’s why a private plane on a Friday-to-Sunday trip with a one-hour flight would return to base in between.
It stands to reason that larger jets cost more to hire that smaller ones, resulting in a higher hourly rate. This is due to operational costs such as:
- Fuel consumption
- Number of pilots and staff required
- Maintenance costs
- Hangar fees, taxes and other fees
Chartering an appropriately sized plane to suit your specific needs will help you get the most value. Here’s a list of the hourly rates for specific jet classes (excluding fuel surcharges, taxes, landing fees and other charges): Turbo Prop: $1,600-2,450 Light: $2,500-4,450 Mid-sized: $4,200-5,200 Full-sized: $6,000-7,250 Heavy: $7,500+ The type and size of aircraft also has a big impact on private jet cost.[/caption]
Availability and Positioning
Given the on-demand nature of the air charter market, the availability of an aircraft in your area can be unpredictable. For example, you may need to fly from Houston to New York on a particular date and time, but there may not be any aircraft in Houston that shares that same need. If you used a Houston-based aircraft, you may have to pay to get that plane back to Houston. However, perhaps there’s a suitable aircraft in Dallas. In this case, you would pay for repositioning the aircraft to Houston and then to the point of departure in New York where that aircraft needs to be to fulfill its next scheduled flight.
The Empty-leg Discount
In other instances, you can take advantage of empty leg flights, also known as deadhead flights, to obtain more favorable private jet prices. It requires a little more spontaneity and flexibility on the part of the traveller, but the difference compared to a standard fare can be significant. What are empty-leg flights? Read our post: Empty-leg Flights Offer the Full Private Jet Experience at a Discount. Looking for a broker that offers extraordinary service and competitive private jet prices? Stratos Jets charters safety-audited aircraft in various sizes and styles to suit your precise needs. Our agents are available 24/7—(888) 593-9066 (toll free) or request a quote online.