American CEO breaks down the shocking costs of operating a private jet
- Operating a private jet involves unbelievably high costs
- Fixed expenses include pilot salaries, insurance, and hangar fees
- And the cost to fly it for an hour will leave your jaw on the floor
Published on Jan 09, 2025 at 11:57 AM (UTC+4)
by Daksh Chaudhary
Last updated on Jan 09, 2025 at 6:03 PM (UTC+4)
Edited by
Kate Bain
A private jet might sound like a dream, but the reality of owning one is far less dreamy.
American CEO Steve Varsano broke down the jaw-dropping reality of owning and operating one.
To say the least, it isn’t for everyone.
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American CEO breaks down the cost of owning a private jet
When probed, founder of TheJetBusiness, Varsano, admitted jet ownership was wildly expensive.
He said the real challenge wasn’t buying the jet, but the operational costs afterward.
According to him, these costs depended on the jet’s size.
A small, medium, or large private jet could cost between $3,000 and $8,000 per hour to operate.
Yes, you read that right – per hour.
If you can swing those costs, Jeff Bezos’ Gulfstream G650ER is up for sale.
When asked if keeping the jet parked at an airport would be more affordable, he said yes, but not entirely.
Steve explained that while not flying reduced operational costs, it didn’t eliminate all expenses.
He said you still had to pay for parking rent at the airport, along with fixed costs like pilot salaries, insurance fees, and hangar fees.
These costs are permanently stuck with jets, whether they soar or stay grounded.
Private jets are very costly to run
Steve also added that operational costs – also called variable or direct operating costs – kicked in when the jet flew.
These ranged from $2,000 to $5,000 per hour.
He reminded viewers that costs varied depending on the jet’s size, with bigger jets burning a bigger hole in the pocket.
While Varsano warned private jet ownership was extremely costly and unattainable for everyday people, not everyone agreed.
One aviation expert actually said owning a private jet could be affordable if you planned it well.
Viewers shared their thoughts in the comment section, with one joking, ‘Me with $5 in my bank looking at what private jet will suit me’.
Another laughed, saying they could barely fathom the purchase cost, let alone what it cost for an hour in the air.
And while it would be nice to experience that kind of life, it will likely remain a dream for us.
