Bankers See Private-Jet ‘Party’ as Rich Clients Snap Up Planes

"....first time owners......lots of cash...."
I'll bet there will be a glut of used jets in a year or so, once the 'extra' cash is gone and many get educated on just how much it really costs to own and operate.
 
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They have been doing this for about a year now. Lots of people trying to beat the pre inflation rush.
 
"....first time owners......lots of cash...."
I'll bet there will be a glut of used jets in a year or so, once the 'extra' cash is gone and many get educated on just how much it really costs to own and operate.

Yep. The purchase price of the plane is the least of the financial worries they cause me.
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.
 
FOMPI instead of FOMO

Fear Of Missing Pre Inflation
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.

Pretty big difference between running a clapped out 500 series citation with minimal maintenance and a large cabin bizjet. I also think he's a little optimistic about how cheap those airplanes are.
 
Not to worry. There are people in DC that want to fix the "problem". If they get their way it will be a buyers market soon enough.
 
I imagine Netjets or the equivalent starts looking really inexpensive after a year of owning your own. Even better, you can walk away from Netjets pretty easily.
 
I imagine Netjets or the equivalent starts looking really inexpensive after a year of owning your own. Even better, you can walk away from Netjets pretty easily.

Most of the time no, and no.

Netjets is about simplicity and convenience. It’s one of the most expensive ways to fly.
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.

I don't think the folks the article is talking about are in the owner-flown 501SP bracket.
 
I imagine Netjets or the equivalent starts looking really inexpensive after a year of owning your own. Even better, you can walk away from Netjets pretty easily.

For this demographic, cost and convenience are all secondary to the ability to show off your personal jet. NetJets is for the poors.
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.
Those training cost are a bargain compared to modern aircraft.
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.

Anyone who's serious about owning a jet is going to fly it more than 100 hours a year. I think those numbers are way low: if you've got assets to protect, some bare-bones insurance isn't going to cut it. And to enjoy the ride, you're going to want a pro pilot. And the cost of upgrades/repairs.

I know what the "corporate" flight operation cost per year 10 years ago for a G-IV and a Citation X. The cost of operation makes the initial capital cost look cheap.


No spin zone here any more - I was treading the line with what I did post.
 
I may need to head down to the mall after while and get me one of them things :)
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.

Insurance price is way low. We have 25M liability on our 560 and it alone is almost 9K, professionally flown. Phase 1-4 I would add 5-10K. You can probably find recurrent for a lower price
 
Typical annual operating costs for a Citation 501SP for sale on BeechTalk:

Insurance - $9k
Hangar around Houston - $15k
Phase 1-4 (not due for 2 years) -$25k
150 GPH = $600/hr fuel. Less if you’re C.A.A. and plan trips better. $60k/year @100hrs.
Initial - $10k
Recurrent -$6k

Beyond my budget, but we’ll within many wallets.

Previous poster best me to it, but you can insure a citation for $9k a year? For all the bellyaching about insurance, that doesn’t seem like that much given the performance.
 
Previous poster best me to it, but you can insure a citation for $9k a year? For all the bellyaching about insurance, that doesn’t seem like that much given the performance.

Low hull value, and I’m assuming low liability limits too.
 
Low hull value, and I’m assuming low liability limits too.

Here’s the ad text on BeechTalk:

Flawless Paint and Interior
1700 remaining, on condition blade motors, hot sections done
Gamin Jet Tech Panel
5900hrs TT
Phase 5 just completed
$575K Firm

The plane is beautiful inside/out and new panel from the pics in the ad. This SP is far from clapped out old jet.
 
Wait a minute I got quoted $3900 for an Arrow with a hull of $70k. How the hell is a jet $9k.

Sure I've got no retract time, but if this is a first time jet owner they've got no jet time.
 
I got insured for the spruce goose for only $100/mo in gift cards to a friendly lady that contacted me on the phone. Still waiting for my first flight? She was also kind enough to help me out with the extended warranty on my 31 year old BMW.
 
Bill Gates has a G650, and Warren owns NetJets. For as great as NetJets can be, it does not compare to ownership.


Bill Gates owns four private jets as well as a Cessna 208 Seaplane and a Eurocopter EC 135 helicopter. His private jet collection is made up of two Gulfstream G650ER's and two Bombardier Challenger 350s.
 
Wait a minute I got quoted $3900 for an Arrow with a hull of $70k. How the hell is a jet $9k.

Sure I've got no retract time, but if this is a first time jet owner they've got no jet time.

I pay $16k/yr for $5mm smooth with $1mm hull value on my Conquest. I’m 1700 hours with 600 turbine and 1100 twin.
 
I got insured for the spruce goose for only $100/mo in gift cards to a friendly lady that contacted me on the phone. Still waiting for my first flight? She was also kind enough to help me out with the extended warranty on my 31 year old BMW.
Good deal. I got an email from a barrister in Nigeria that offered to insure me for free if I would accept my inheritance.
 
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