Everyone tells you what a private jet costs to buy. Almost nobody tells you what it costs to keep.
This is the conversation most brokers avoid. Not because the numbers are secret, but because the full picture of private jet ownership cost tends to slow down deals. So here it is, laid out clearly and honestly, because the principals who enter this market with clear eyes are the ones who stay in it happily for decades.
Fixed costs are what you pay whether the aircraft flies or not. A qualified captain for a heavy jet earns $200,000 to $350,000 per year in total compensation. A first officer adds $120,000 to $200,000. A flight attendant runs $70,000 to $110,000 annually. Hangar fees at major airports like Mumbai, Dubai, or London Farnborough cost $100,000 to $300,000 per year. Insurance runs $80,000 to $200,000. Professional aircraft management adds $50,000 to $120,000 per year. Crew training and simulator certification adds $40,000 to $70,000. Total fixed costs for a properly operated heavy jet run $620,000 to $1,100,000 per year before the aircraft leaves the hangar.
Variable costs scale with your flight hours. A Gulfstream G650ER burns 420 to 470 gallons per hour. At current 2026 Jet-A prices of $5.50 to $6.50 per gallon, that is $2,300 to $3,050 per flight hour in fuel alone. On a 10-hour transatlantic sector that is $23,000 to $30,500 in fuel for one leg. Fly 300 hours per year and your annual fuel bill is $690,000 to $915,000. Engine maintenance programs add $240,000 to $540,000 annually. Airframe maintenance adds $200,000 to $500,000. Landing and handling fees at premium FBOs add $200,000 to $500,000. Catering adds $50,000 to $150,000.
Total annual cost by aircraft type at 300 flight hours: a midsize jet runs $800,000 to $1.3 million. A super midsize runs $1.15 million to $1.65 million. A heavy jet like the G550 runs $1.6 million to $2.25 million. An ultra-long-range like the G650ER runs $2 million to $2.9 million. The newest generation G700 or Global 7500 runs $2.3 million to $3.4 million per year.
Depreciation is the cost nobody puts in the brochure. A new Gulfstream G700 at $80 million depreciates to approximately $60 to $65 million after five years. That is $3 to $4 million per year in value loss whether you fly it or not. Pre-owned aircraft priced 20 to 50 percent below new dramatically improve this curve and are the financially rational choice for buyers whose primary concern is economics over novelty.
Ownership makes financial sense above 300 annual flight hours. Below 200 hours, charter or jet card programs are almost always more economical when total cost including depreciation is honestly calculated. Between 150 and 300 hours, fractional ownership programs occupy the rational middle ground.
The principals who are most satisfied with private jet ownership are those who entered with a clear-eyed understanding of the true annual cost and had the right management infrastructure in place from day one. If you are evaluating entry into private ownership, the first conversation should not be about which aircraft you want. It should be about total cost of ownership and what your portfolio can absorb comfortably.
