The private jet industry publishes an enormous quantity of content about aircraft ownership. Almost all of it is produced by people who earn a commission when you buy an aircraft.

Aircraft brokers. Management companies. Maintenance facilities. Avionics firms. Charter operators who want your aircraft in their fleet. All of them have a financial interest in presenting ownership in its most favourable light — and all of them carefully avoid the total cost picture that would lead a rational buyer to ask whether ownership is genuinely justified.

This is the total cost picture. It uses figures from publicly available FAA aircraft operating cost databases, NBAA cost calculators, and conversations with aircraft management companies who operate under non-disclosure on the specific clients involved.

The Acquisition Cost: The Number That Gets All the Attention

A new Cessna Citation XLS+ — a midsize jet capable of carrying eight passengers approximately 2,100 nautical miles — retails at approximately $12.5 million. A new Bombardier Challenger 350 — super-midsize, ten passengers, 3,200nm — at approximately $27 million. A new Gulfstream G700 — ultra-long-range, nineteen passengers, 7,500nm — at approximately $78 million.

Pre-owned alternatives, which represent the majority of first-time purchases: a 2018 Citation XLS+ with 800 flight hours trades at $7–$9 million. A 2020 Challenger 350 at $18–$22 million. A 2016 Gulfstream G650 at $40–$48 million.

These are the numbers that dominate most aircraft acquisition conversations. They are also the least important numbers in the ownership calculation — because the acquisition price represents approximately 40–50% of the total 5-year cost of ownership.

The Fixed Annual Costs: What You Pay Before You Fly

Fixed annual costs are the costs you incur whether the aircraft moves or not. On a midsize jet, they are substantial:

Crew salaries: A midsize jet requires two pilots — captain and first officer. In 2026, a senior Cessna Citation-rated captain earns $180,000–$220,000 in base salary plus benefits (health insurance, pension, training). A first officer: $80,000–$120,000. Total crew cost including benefits and employment taxes: approximately $320,000–$400,000 annually.

Aircraft management: A management company charges $10,000–$20,000 per month ($120,000–$240,000 annually) for a midsize jet, covering operational coordination, regulatory compliance, maintenance scheduling, and charter programme management if applicable.

Hangarage: Airport hangar rental for a midsize jet at a major metropolitan airport (London Farnborough, Teterboro NJ, Los Angeles VNY) runs $6,000–$15,000 per month ($72,000–$180,000 annually). Regional airports are cheaper; premium facilities cost more.

Insurance: Hull and liability insurance for a midsize jet runs 0.5–1.2% of hull value annually. On a $9 million Citation XLS+: $45,000–$108,000 per year. Insurance requirements increase with aircraft age and decrease with operator experience.

Scheduled maintenance and inspections: Aircraft maintenance occurs on calendar and flight-hour schedules. A midsize jet's annual inspection costs $40,000–$80,000. Engine maintenance programmes (PowerAdvantage, ESP Gold) run $150,000–$250,000 annually on a pro-rata basis. Total scheduled maintenance allocation for a midsize jet: $200,000–$350,000 annually.

Total fixed annual cost for a midsize jet: $762,000–$1,278,000. Before a single flight hour.

The Variable Costs: What You Pay When You Fly

Variable costs accumulate with every flight hour. On a midsize jet, the primary variables are:

Fuel: A midsize jet burns approximately 170–230 gallons per hour. At current jet-A prices of $6.50–$8.00 per gallon at major business aviation FBOs, fuel cost runs $1,100–$1,840 per flight hour. On a two-hour London–Geneva sector, fuel alone costs $2,200–$3,680.

Landing and handling fees: As detailed in the broker playbook, fees at premium FBOs run $1,500–$4,000 per movement. For a 100-hour annual programme averaging 2 movements per flight hour, this adds $150,000–$400,000 annually.

Catering and passenger services: Professional catering for a midsize jet runs $200–$600 per sector depending on catering standard. For a 50-sector annual programme: $10,000–$30,000.

Total variable cost per flight hour, midsize jet: $2,500–$4,000. For a 100-hour annual programme: $250,000–$400,000 in variable costs.

The Total 5-Year Cost: The Number Nobody Shows You

Combining acquisition, fixed, and variable costs for a typical midsize jet owner flying 100 hours annually:

Year 1 acquisition (pre-owned 2018 Citation XLS+): $8,000,000. Annual fixed costs: $1,000,000. Annual variable costs (100 hours): $300,000. Year 1 total: $9,300,000.

Years 2–5, annual: $1,300,000 each year ($1M fixed + $300K variable). Five-year total after acquisition: $5,200,000.

Combined 5-year cost of ownership: $14,500,000. Against an aircraft that retails pre-owned at $8 million and will be worth approximately $6–7 million after five years of 500 hours.

The effective cost of flying on your own midsize jet for five years, 100 hours annually, is approximately $14.5 million minus a $6.5 million residual value = $8 million in net cost.

Eight million dollars to fly 500 hours. That is $16,000 per flight hour — a cost at which a midsize jet charter (typically $4,000–$5,000 per flight hour) would have cost $2–2.5 million for the same flying.

"The people who benefit financially from aircraft ownership fly at least 300 hours a year, generate meaningful charter revenue, and have a management company optimising every operational cost. For everyone else, the economics almost never support ownership over charter," says Adam Twidell, CEO of PrivateFly, in a 2024 Financial Times interview.

When Ownership Does Make Sense

The argument for ownership is not primarily economic. It is operational and personal.

Guaranteed availability: When you own the aircraft, it is available when you need it. Charter market tightness — particularly around major events like the Monaco Grand Prix, Davos, or the Ryder Cup — means that chartered aircraft may simply not be available at any price. An owned aircraft eliminates this risk.

Configuration consistency: Your aircraft can be configured exactly as you require — sleeping arrangements, specific telecommunications, custom catering galley — with no compromise to the next charter guest's preferences.

Privacy: Your aircraft carries only your passengers. No need to share a charter with other passengers (some charter models involve aircraft sharing); no manifest that includes other names; no catering preferences that reflect anyone but you.

The decision calculus is therefore not purely financial. It is a question of what you are buying. If you are buying an asset that will appreciate or generate income — you should charter. If you are buying guaranteed availability, perfect configuration, and absolute privacy — ownership may be worth the premium.

The most important thing is to know, precisely, which purchase you are making. The industry prefers you not to.