Owning a private jet is a bad idea for almost everyone who can afford one, because the running costs of roughly $0.7 million to $1.2 million a year for a light jet come on top of the purchase price. Chartering, jet cards and fractional ownership deliver most of the benefit for far less. Here are 15 reasons to think twice before you buy, with 2026 cost ranges.
| Cost item | Typical range (light jet, 2025-26) |
|---|---|
| All-in annual cost at about 200 flight hours, before purchase | About $0.7 million to $1.2 million |
| Variable cost per flight hour (fuel, maintenance, fees) | About $1,800 to $3,400 |
| Crew pay (two pilots) | Roughly $200,000 to $500,000 per year |
| Hangar | Roughly $30,000 to $100,000 or more per year, tie-down far cheaper |
| Insurance | Roughly $15,000 to $100,000 or more per year |
These are planning ranges, and they move with the aircraft, location and how much you fly. Figures are our rounded reading of published operator and broker estimates, which differ a lot between sources.
Why shouldn’t you buy a private jet?
15. A jet isn’t meant to sit around
Before buying, ask why you want one. The point of any vehicle is transport. If you don’t fly often, your jet will spend most of its time in a hangar.
You can offset this by putting it on a charter program, but then you share the seats and carpets you wanted to keep to yourself. Unless you travel long distances often, you don’t need to own one.
14. Even the rich prefer chartering
Few people own jets compared with the number of millionaires. Many wealthy people choose charters, jet cards or fractional shares because they know that owning costs far more than the purchase price. It isn’t that they can’t afford a jet. They know the math.
For deeper looks at other expensive hobbies, see our guides to the highest-paid F1 drivers and the world’s most expensive yachts.
13. Who are you flying with?
Private jets have several seats. Unless you travel with a team, such as an assistant, security or colleagues, you will often fly with empty seats. A first-class or business-class ticket on an airline buys you good service for a lot less.
If you want something between the two, a shared charter lets you split the cost with other passengers.
12. Taking passengers costs more
Bringing friends and colleagues adds catering, drinks and weight, and you end up funding the trip. Letting everyone chip in can be awkward, and not asking costs you.
Most owners end up flying alone or with a small group, which brings us back to reason 15.
11. Taxes and fees
Buying a jet can involve sales or use tax depending on the state or country where it is registered, and some places exempt aircraft. Ask a specialist aviation tax adviser before you sign, because the way the jet is owned and used changes the bill.
Airports also charge landing, parking and handling fees on every trip, and international flights add permits and customs.
10. Insurance
Insurance is mandatory in practice, and published estimates put premiums at roughly $15,000 a year for lighter jets and $100,000 or more for larger, higher-value aircraft. Pilot experience, aircraft value and how you use it all move the price.
You need hull and liability cover. Flying has strict safety oversight, but components still fail and accidents still happen.
9. Maintenance is high
A jet has to follow a strict maintenance schedule, and some components have to be replaced on a calendar even if you don’t fly. Skip the schedule and the jet can lose its airworthiness certificate, which means it can’t fly.
Budget six figures a year for routine maintenance and inspections alone, with surprise repairs on top. Engine overhauls can run into the hundreds of thousands of dollars.
8. Who will fly it?
You need qualified pilots. Experienced captains cost more, and light jets usually fly with two pilots. Published estimates for a two-pilot light jet crew run from roughly $200,000 to $500,000 a year in total, depending on experience and the aircraft.
A flight attendant adds more. Add training, which is repeated every year, and crew becomes one of the biggest fixed costs.
7. Permits and paperwork
You don’t need a pilot’s license to own a jet, but flying it requires pilot certificates, aircraft registration, airworthiness certification, insurance and, for international trips, permits and landing approvals.
Missing paperwork means fines, a grounded aircraft or worse. Most owners hire a management company to handle this, which is another cost.
6. It isn’t like owning a sports car
Neighbors can admire a Ferrari in your driveway. Almost nobody sees your jet except airport crews. If you buy one to impress, you may be disappointed.
If bragging rights matter, a rare car is easier to enjoy. Take a look at the most expensive Ferrari cars or the most expensive Aston Martins.
5. The cost of each flight
Fuel, maintenance reserves, fees and consumables add up per hour. A light jet’s variable cost is estimated at about $1,800 to $3,400 per flight hour, and the smallest single-engine jets cost less per hour but carry fewer people.
Compare that with a one-way airline ticket on a short domestic route, which often costs a few hundred dollars even in first class. For a typical trip, the airline wins on cost, and the jet wins only on time and privacy.
4. Not flying doesn’t mean not paying
Fixed costs, including crew, insurance, hangar and management, continue whether the jet flies or not. Industry estimates put fixed costs at roughly 40 to 50 percent of annual spending at 200 hours a year.
Parking alone ranges from a few thousand dollars a year on an outdoor tie-down to roughly $30,000 to $100,000 or more for a hangar, depending on the airport and size.
3. Jets lose value
Unlike a classic car, a jet doesn’t usually appreciate. Aircraft lose value with age and flight hours, and a buyer pays for the airframe hours and engine condition, not the owner’s name.
Some famous owners do manage to sell, but a typical buyer expects a discount. Keeping it costs more every year, and selling it usually means a loss.
2. It isn’t an investment
Aviation investing means buying and restoring old aircraft to resell or collect. Buying a jet to fly in is a consumption purchase, and you should expect to lose money on it.
With $10 million, you will probably do better in a diversified portfolio or in real estate than in an aircraft that depreciates and costs money every year you own it.
1. It is only for very important people
Being able to afford a jet doesn’t mean you should own one. A sensible owner usually checks these boxes:
- Can afford to lose money on taxes, insurance, maintenance and parking
- Flies regularly, often a few hundred hours a year
- Has an unpredictable schedule that airlines can’t serve
- Is willing to manage permits and registrations, or pay someone to
- Travels with a team and needs the space
- Needs privacy and security at airports
- Has a business that rewards the time saved
If that isn’t you, charter, buy a jet card or share a fractional jet. For a similar story on the water, read why buying an expensive yacht is a bad idea.
FAQ
How much does it cost to own a private jet per year?
Published estimates put a light jet at about $0.7 million to $1.2 million a year at around 200 flight hours, before the purchase price. Smaller jets cost less and larger ones much more.
Is it cheaper to charter than to own?
For most people, yes. If you fly only a limited number of hours a year, chartering, a jet card or a fractional share costs less than owning.
Is a private jet a good investment?
No. Jets usually lose value with age and hours, and owning one adds yearly costs. Only restoring and reselling vintage aircraft counts as investing.
How much does a private jet pilot crew cost?
Published estimates for a two-pilot light jet crew run from roughly $200,000 to $500,000 a year in total, depending on experience and aircraft size.
How many hours should you fly to justify owning one?
Many advisers suggest a few hundred hours a year before owning beats charter, though the break-even depends on the aircraft and your routes.
What are the alternatives to buying a jet?
On-demand charter, jet cards, fractional ownership and first-class airline travel all deliver much of the same convenience with less commitment.
How we put this list together
The cost ranges come from published operator, broker and aviation-finance estimates, compared against each other and rounded. They are planning ranges, not quotes, and your costs will differ.
Last updated: October 2026.
