Is buying a jet worth it?

Purchasing a jet is a big investment and decision. A good reference to consider is if you are spending 300 hours or more a year in the air, a private jet is a smart investment. If you are flying less, consider chartering until your needs require a private jet.

How much is the cheapest jet?

Very Light Jet: Cirrus Vision Jet The cheapest private jet on the market is the small but mighty Cirrus Vision Jet at $1.96 million. The Vision Jet is the world’s first single-engine private jet, powered by a Williams International FJ33-5A turbofan engine that produces 1,800lbs of thrust.

Should a billionaire buy a private jet?

But flying on a private jet and owning one are entirely different things. You still should be a billionaire, or at least a centimillionaire, to comfortably afford a guilty pleasure like Bill Gates’. With that said, let’s break down the reasons for buying a jet—and what it takes to do so.

Should you buy a preowned or new jet?

If you were to buy a preowned jet, you currently wouldn’t be able to find an aircraft that consistently delivers this important mission.” On the other hand, buying a preowned plane can result in significant immediate savings—and it’s not like you’re buying a jalopy.

Does Bill Gates own a private jet?

Since that time, Gates has grown fond of private jets, his current one being a $41 million customized Bombardier Global 5000 that seats up to 19 people, has a range of nearly 6,000 miles and can fly practically anywhere in the world.

Is it profitable to own an aircraft?

The 2017 Tax Cuts and Jobs Act, which allows owners to fully write off the cost of a new plane used for business purposes in its first year, has opened the floodgates to some dubious ideas for gaming the system, but generally there is no direct profitability from aircraft ownership. The capital investment you choose to make is entirely personal.