Can You Buy a Real Jet? An In-Depth Guide to Jet Ownership

The short answer is yes, you absolutely can buy a real private jet. However, owning and operating an aircraft comes with major expenses and requirements that you need to consider. In this 2600+ word guide, I‘ll provide an in-depth look at everything you need to know about purchasing and flying your own jet as a civilian.

Is It Legal for Civilians to Buy Jets?

Let‘s start with the most basic question – is it even legal for regular people to buy jets?

The answer is yes, private citizens can legally purchase and own real jets for private use in the United States and many other countries. There are regulations you must follow, but private jet ownership by civilians is permitted.

According to the Federal Aviation Administration (FAA), around 11,000 private jets were registered in the US as of 2022. And many more are owned globally.

FAA Regulations

In the US, the FAA oversees regulations for private jet ownership and operation under the Federal Aviation Regulations (FARs). Here are some key requirements:

• Your jet must be registered with the FAA Civil Aviation Registry. This costs $5 per year.

• You must obtain an airworthiness certificate for your specific jet from the FAA. This certifies it is maintained and safe to fly.

• Your pilots must hold FAA pilot certificates as well as ratings and training specific to the make/model jet.

• The jet must be stored and maintained according to FAA standards. Proper hangar space is required.

• Flights must follow all FAA rules of the sky and air traffic control instructions.

Demilitarized ex-military jets can also be purchased and operated privately once proper permits are obtained. More on this later.

As long as you follow FAA rules, civilians can legally buy and fly real jets in the US. Other countries have similar aviation authorities that regulate private jets.

What Types of Jets Are Available to Purchase?

Now that we‘ve established it‘s legal, what kinds of jets can you actually buy? Here are some of the main types of jets available on the civilian market today:

Vintage Jets

For between $100,000 to over $1 million, you can purchase demilitarized retired military jets like:

• F-4 Phantom – Supersonic fighter-bomber
• A-4 Skyhawk – Carrier-based attack jet
• L-39 Albatross – High-performance jet trainer
• BAC Strikemaster – British military trainer

These vintage jets are no longer in active military service but have been restored to flight by private collectors. According to I Fly Vintage Jets, around 1,000 vintage jets are owned privately just in the US.

Vintage Jet Ownership Stats:

Jet Model	Price Range	Top Speed
F-4 Phantom	$650,000 – $1.25M	1,472 mph
A-4 Skyhawk	$225,000 – $450,000	677 mph
L-39 Albatross	$250,000 – $550,000	572 mph

While owning a retired fighter like the legendary F-4 Phantom would fulfill many a pilot‘s childhood dream, keep in mind these vintage military jets are complex, high maintenance aircraft optimized for performance rather than comfort or efficiency. But they deliver incredible speed and capabilities not found in civilian models.

Light Jets

In the $2 to $4 million range, you can purchase a brand new privately-built light business jet seating 4 to 8 people. Used light jets run $1 to $2.5 million. Popular models include:

• Cessna Citation Mustang – $2.7 million new. 4 seats. 340 mph max speed. 1,150 mile range.

• Eclipse 500 – $3 million new. 6 seats. 430 mph max speed. 1,125 mile range.

• Embraer Phenom 100 – $4.5 million new. 4 seats. 392 mph max speed. 1,178 mile range.

These efficient light jets are designed specifically for civilian use and offer simplified cockpit controls plus a smooth, comfortable passenger experience. Their relatively low cost makes them one of the most accessible jet options.

Light Jet Ownership Stats:

Jet Model	Price New	Price Used	Seats	Range
Cessna Mustang	$2.7 million	$1.5 million	4	1,150 miles
Eclipse 500	$3 million	$1 million	6	1,125 miles
Embraer Phenom 100	$4.5 million	$2 million	4	1,178 miles

Light jets cannot match the speed of vintage fighter jets. But their operating costs are far lower and they offer ample range and passenger space for most trips a private owner would take.

Midsize Jets

Moving up in size, midsize jets offer longer range and more spacious cabins while still only requiring 1 to 2 pilots. New midsize jets start at $3 to $6 million, while used models run $1 to $4 million. Top options include:

• Cessna Citation XLS – $5 million new. 8 seats. 421 mph max speed. 1,740 mile range.

• Learjet 45 – $5.5 million new. 6 seats. 531 mph max speed. 1,841 mile range.

• Embraer Legacy 450 – $6 million new. 7 seats. 453 mph max speed. 2,138 mile range.

Midsize jets strike a nice balance of performance, passenger comfort and operating efficiency. Their combination of range, seating and moderate price make them a popular private jet class.

Midsize Jet Ownership Stats:

Jet Model	Price New	Price Used	Seats	Range
Cessna Citation XLS	$5 million	$2.5 million	8	1,740 miles
Learjet 45	$5.5 million	$1.5 million	6	1,841 miles
Embraer Legacy 450	$6 million	$3 million	7	2,138 miles

Heavy Jets

Private aviation starts reaching a new level of luxury with heavy jets seating 8 to 19 passengers. New heavy jets range from $10 million up to $100 million for personalized boutique models. Used heavy jets run $4 to $8 million. Top models include:

• Gulfstream G650 – $70 million new. 18 seats. 610 mph max speed. 7,000 mile range.

• Bombardier Global 6000 – $62 million new. 12-19 seats. 590 mph max speed. 6,000 mile range.

• Dassault Falcon 7X – $50 million new. 12 seats. 521 mph max speed. 5,950 mile range.

These large long range jets offer spacious cabins with amenities like bedrooms, showers, entertainment systems, premium catering galleys and more. Heavy jets are operated by 2 pilots and can fly internationally without refueling.

Heavy Jet Ownership Stats:

Jet Model	Price New	Price Used	Seats	Range
Gulfstream G650	$70 million	$5 million	18	7,000 miles
Bombardier Global 6000	$62 million	$7 million	12-19	6,000 miles
Dassault Falcon 7X	$50 million	$4.5 million	12	5,950 miles

For billionaires and large corporations, heavy jets deliver a beyond first-class flight experience for intercontinental travel. Pre-owned models can potentially be purchased for under $10 million.

Airliners

At the extreme end of private jets, older airliner models like Boeing 727s and McDonnell Douglas MD-80s are sometimes converted for luxury corporate use. These jets seat anywhere from 100 to 200 passengers in airline service but can be outfitted with lavish amenities when privately operated. Purchase prices range from $2 to $5 million.

While offering immense interior volume, operating costs are predictably huge given their massive fuel consumption and maintenance needs. Airliner-based corporate jets are only practical for the absolute highest echelon of luxury travel.

What Are the Costs of Private Jet Ownership?

Before committing to jet ownership, it‘s critical to objectively look at the costs involved:

Purchase Price

This ranges from around $1 million for a used light jet up to over $100 million for a new customized heavy jet. The largest expense is the jet itself.

Fuel

Jet fuel costs approximately $6 per gallon as of 2022. For a light jet burning 200 gallons per hour, fuel for a one hour flight could cost $1,200. For heavy jets burning 500+ gallons per hour, fuel can exceed $3,000 per hour of flight time.

Maintenance and Repairs

Annual inspections, engine overhauls, repairs and upkeep can run $200,000 to $2 million+ depending on jet size and age. Jets require near constant maintenance.

Insurance

Liability insurance premiums typically run $50,000 to $500,000+ per year depending on your jet‘s value.

Pilot and Crew Salaries

A certified jet captain earns $80,000 to $250,000 per year. First officers and mechanics make $60,000 to $120,000. For heavy jets, a crew of at least 2 pilots, 1 mechanic and flight attendants may be required.

Hangar Storage Fees

Expect to pay $1,000 to $5,000+ per month to house your jet in a specialized hangar designed to protect the aircraft.

Training and Licensing

Obtaining a type rating to fly a jet can cost around $10,000 for training and instruction. Pilots must also maintain medical certificates and licenses.

When you add up purchase costs, operating expenses and pilot salaries, owning a jet will cost millions per year even for a used light model. The largest jets can easily exceed $10 million per year to operate. Private jet ownership is not cheap!

Can You Make Money Owning a Private Jet?

With purchase prices reaching eight or nine figures, some jet owners try to offload costs by chartering out their plane. But according to aviation experts, most private jets end up losing money:

• According to Jetcraft, 75% of private jets do not fly enough hours in a year to break even.Jets that fly 100-150 hours per year have the best chance at profitability.

• Empty repositioning flights without passengers burn fuel and hours without generating revenue.

• Unexpected maintenance and repairs can ground the jet, losing income during downtime.

• Insurance premiums, pilot salaries and financing costs continue even for unused time.

• Residual value of a jet after 5-10 years is often 50% less than purchase price.

While possible in theory, the FAA prohibits directly profiting from private aircraft operations. To legally make money on a jet, an air carrier operating certificate is required involving more rules and oversight.

According to aviation consultant Neil Book, "…owners should view their aircraft as a palatial estate. You’ll spend lavishly for the pleasure of ownership and have no reasonable expectation of turning a profit.”

Private Jet Ownership Pros and Cons

Given the extraordinary costs, when does jet ownership make sense? Here are some key pros and cons to weigh:

Pros of Private Jet Ownership

• Convenience – Fly on your own schedule without airline hassles

• Time savings – Shorter travel time by avoiding commercial airport queues

• Luxury amenities – Custom outfitting for comfort and entertainment

• Prestige – Private jet travel provides status and exclusivity

• Productivity – Work or rest in privacy during flights

• Efficiency – Direct routings to optimal airports near destinations

Cons of Private Jet Ownership

• Expensive – Purchase cost, fuel, maintenance and pilots are pricey

• Liabilities – You bear all risks of operation and damage

• Regulatory requirements – Licenses, rules and standards must be followed

• Underutilization – Jets often sit unused more than they fly

• Hassle – Managing every aspect of operation and upkeep

• Depreciation – Jets lose significant value after just a few years

When Does Private Jet Ownership Make Sense?

According to jet sales companies, the ideal private jet owner has:

• Net worth – Of at least $100 million to absorb losses and costs

• Utilization – Frequent flights over 150 flight hours per year

• Passenger capacity – Typically 6-8 seats are optimal

• Mission requirements – Regular long range or global travel

For wealthy individuals and corporations who check these boxes, owning a jet can be justified despite the costs. For most others, occasional charter or jet card services are far more economical.

Other Options for Private Air Travel

If full jet ownership doesn‘t make sense for your needs, consider alternatives like:

• Jet charter – Hire a private jet only when needed for one-off trips

• Jet card – Pre-purchase flight hours at fixed rates for future use

• Fractional ownership – Buy a share of a jet for partial ownership

• Jet membership – Pay monthly/annual fees for guaranteed availability

These options allow you to experience private aviation without the same upfront risks and capital as outright owning a jet. You still need to pay for flight time of course, but avoid overhead expenses when not flying. Charter, fractional and membership options start at under $100,000 per year.

Should You Buy a Private Jet? My Take

I won‘t sugarcoat it – owning a private jet is a massive expenditure that is extremely hard to justify through dollars and cents alone. There are certainly cheaper and more logical ways to travel.

But private aviation offers intangible benefits beyond cost like time, convenience, privacy, luxury and memories that only flying your own jet can provide.

If you run the numbers and have $5 million+ in expendable income to buy and operate a jet, plus regularly log hundreds of flight hours per year, ownership can make your lifestyle smoother, more productive and more enjoyable. Just be prepared for the work and costs involved.

For the rest of us, chartering an occasional flight still provides a taste of the private jet experience without the same price tag or responsibilities as owning. You can leave the maintenance headaches and 2 a.m. calls about a grounded plane to someone else!

Either way, I hope this guide offered you a transparent inside look at the realities – both great and challenging – of purchasing and flying your own private jet. Please feel free to reach out with any other jet ownership questions you may have.

Safe travels!