How to Buy a Private Jet?

Mukesh Ambani has given his wife a gift on her Birthday – A Private Jet worth of Rs.150 Crores.

Now, after 1990, because of the Globalization & Information age, many Millionaires & Billionaires born and will be born. So right now there are several Rich people in India who can actually buy & afford a private jet. But the only problem in India is the Airport Infrastructure. Underdeveloped Airport infrastructure in India is preventing many rich people to buy their own Private Jet.

I Love to own Private Jet. So I have search for how you can buy a Private jet, what will be its maintenance cost & what is the price range of a private aircraft.

Hope my this analysis will be useful to you.

So How to Buy a Private Jet & What it costs? -

- Well, first of all you should know that which companies in India are manufacturing Private aircrafts and what it will cost you?

Well, as far as I know, Well-heeled corporate executives, top bankers and Bollywood biggies can now afford to have their own private planes, thanks to the very light jets (VLJs) that are on offer for only $1.5 million (Rs 6 crore).

According to industry experts, international companies such as US-based Epic Aircraft (in which Vijay Mallya picked up a 50 per cent equity recently), Eclipse Aviation, Embraer, Cessna and HondaJet, Adam Aircraft and Diamond Jet, that manufacture or are in the process of manufacturing VLJs, are all looking at the Indian market.

The price tag of VLJs is one-third of the current price of corporate jets, which are a luxury even for large corporate houses or high-flying businessmen.

The low cost of operations of these 4-6 seater planes, that can make a Delhi-Mumbai trip for only Rs 36,000 (including fuel), is an added attraction.

A Delhi-Mumbai business class ticket on commercial flights cost more than Rs 14,000.

- According to my analysis, If your yearly airtime is more than 350-400 hours than and only you should think of owning a private jet. Otherwise, You should go for another option – Fractional Ownership.

- You have to consider its yearly maintenance costs. The yearly maintenance cost of owning a private jet is around US $ 1,00,000 – 2,00,000 (RS.50 Lakhs to 1 Crore). So if your Business doesn’t produce much more Cashflow for you every year than buying a Private Jet can be disastrous for you.

- Determine the size and flying range you'll need. Light jets ($3 million to $8 million) can take 5 to 8 passengers roughly 2,000 miles (3,219 km); midsize executive jets ($9 million to $16 million) can take up to 9 passengers from 2,000 to 3,000 miles (3,219 to 4,828 km); and large executive jets ($17 million to $45 million) can carry 12 passengers more than 4,000 miles (6,437 km).

- When you're ready to buy, contact private jet manufacturers and ask for aircraft specifications and pricing. Next, shop online via private jet dealers, which sell new and used jets, including repossessed aircrafts at deep discounts.