How much it really costs to own a private jet and the expenses most people underestimate

Owning a private jet is considered one of the highest symbols of wealth, but the true cost of ownership is rarely understood. The purchase price is only the first step — it is the annual operating costs that often surprise even high-net-worth owners.

Using industry data from aviation regulators, pilot unions, cost-management companies and official airport sources, this article breaks down what private jet ownership truly costs.

The purchase price is only the beginning

Private jets vary dramatically in price depending on model, range and age:

• Light jets: £1–3 million
• Mid-size jets: £4–10 million
• Long-range jets: £30–50 million+

Source (aircraft market insights):
International Aircraft Dealers Association – https://www.iada.aero
Global Jet Capital Market Reports – https://www.globaljetcapital.com/resources

These prices do not include modifications, upgrades or mandatory safety equipment.

Fuel costs — one of the biggest ongoing expenses

Jet fuel consumption depends on aircraft size:

• Light jets burn 120–200 gallons/hour
• Large jets burn 300–500 gallons/hour

Fuel prices fluctuate, but jet owners routinely spend hundreds of thousands per year on fuel alone.

Source (official aviation fuel consumption and safety requirements):
Civil Aviation Authority (CAA) – https://www.caa.co.uk

Maintenance — mandatory, regulated and expensive

Maintenance is governed by strict airworthiness rules. Owners must comply with:

• EASA airworthiness requirements
• Mandatory inspections
• Engine hour limits
• Safety directives from manufacturers

Annual maintenance cost ranges:

• Light jets: £150,000–£500,000
• Heavy jets: £500,000–£1,000,000+

Sources:
EASA Continuing Airworthiness – https://www.easa.europa.eu/en/domains/airworthiness
Jet Support Services Inc. (JSSI) – https://jetsupport.com

Crew salaries — required even if the aircraft flies rarely

Most private jets require at least two pilots, and large jets require cabin crew.

Typical salary ranges:

• Captain: £80,000–£140,000 per year
• First officer: £50,000–£90,000 per year

Source:
British Airline Pilots Association (BALPA) – https://www.balpa.org

Hangar fees — storing a jet is not cheap

Airports charge for secure, heated hangar space. Costs vary by airport and jet size:

• £40,000–£120,000 per year, sometimes more in major airports.

Examples of airport fee schedules:
London Biggin Hill – https://bigginhillairport.com
Farnborough Airport – https://www.farnboroughairport.com

Insurance — essential and expensive

Jet insurance includes:

• Hull insurance
• Liability insurance

Annual cost ranges:

• Light jet insurance: £20,000–£40,000
• Large jet insurance: £80,000–£150,000

Source:
Global Aerospace – https://www.global-aero.com
Allianz Aviation – https://www.allianz.com

Landing, parking and handling fees

Every flight involves fees:

• Landing charges
• Overnight parking
• Handling
• Safety and movement fees

These range from hundreds to thousands per flight depending on airport.

Examples (official fee schedules):
Manchester Airport – https://www.manchesterairport.co.uk/about-us/official-documents/
London Stansted – https://www.stanstedairport.com

Navigation databases and compliance subscriptions

Jets require constantly updated navigation and terrain databases:

• £5,000–£30,000+ per year

Sources:
Jeppesen (Boeing) – https://www.jeppesen.com
Honeywell Aviation – https://aerospace.honeywell.com

Total annual ownership cost

Depending on aircraft size:

• Light jets: £300,000–£700,000 per year
• Mid-size jets: £700,000–£1.5 million per year
• Long-range jets: £1.5 million–£3 million+ per year

These figures align with cost models published by:

• NBAA (National Business Aviation Association) – https://nbaa.org
• JSSI (Jet Support Services Inc.) – https://jetsupport.com
• European aircraft management companies

Why many owners use management companies

Jet owners often hire management firms to handle:

• Crew
• Maintenance
• Regulatory compliance
• Scheduling and logistics
• Insurance
• Accounting

These services cost £60,000–£150,000 per year, depending on aircraft size.

Key points to understand

• The cost of buying a jet is often lower than the yearly cost of owning one.
• Fuel, maintenance, pilots and hangar space generate ongoing six- or seven-figure expenses.
• Airport fees, insurance and regulatory compliance add substantial cost.
• Jet ownership remains one of the most expensive forms of private transportation.

Even when flown sparingly, a private jet requires continuous spending — making ownership feasible only for individuals or companies with significant, consistent financial resources.