Generally speaking, if you’re flying a lot of hours a year, it can be worth it to own a jet instead of chartering. Hours of flight time aren’t the only factor that should be considered when deciding whether or not to purchase a private jet. How many hours spent in-flight is important, but so is the type of flying. If the hours are split among multiple people in different locations, owning a single jet wouldn’t fit the needs of the organization.

Owning a jet means that you wouldn’t have to pay per flight, but there are other costs associated with ownership, including maintenance and hangar fees. You would also be responsible for paying the flight crew. If you typically spend a long period of time at the destination, it may end up costing more to fly your own jet than to just book two charters.

Fractional ownership is partial ownership of a private jet. In fractional ownership, the jet would have multiple owners, each of whom would be allocated a certain number of hours of flight time in the jet, proportionate to the percentage owned of the aircraft. It’s a good option for those who want to save on the costs of owning a private jet.

How much it costs to purchase a private jet depends on the size and type of aircraft. The costs can start at $3 million and run as high as $90 million. That doesn’t include the cost of regular maintenance, repairs, insurance, flight crew salaries, or hangaring. If you’re flying hundreds of hours in a year, it can make sense to own your own plane instead of chartering.

A private jet management company provides aircraft management services to companies or individuals that own their own aircraft. These services include maintenance, pilot scheduling, flight planning, and all of the everyday operations required to keep the aircraft airworthy.

If you own an aircraft, you can charter the aircraft in order to offset some of the costs of owning the jet. The private jet management company that you hire can also be responsible for chartering your aircraft.