Most have the mentality that owning a private jet would solve all their traveling problems. However, on the contrary, those who actually own one highly disagree. Here are a few reasons why people who own private jet would advise against the idea.
A plane should be used regularly
As any other means of transportation, a plane should not be left idle for too long. It gets broken even if not used.
What you could do is charter while you are not using it, but this could be a tricky business. Would you really trust other people with it? They may ruin something on the plane or even spill some liquors/substances and leave stains. And then what?
Traveling alone is boring
Flights usually last long and can be much boring without good companions. That’s especially if you are not into reading books or watching movies. What’s the point of spend your entire flight sleeping? You could just as well sleep in an economy seat on a regular flight, which would be much cheaper.
“But you see, that’s the gilded prison of fashion. We’re riding in private jets, and meantime I was so incredibly, painfully sad and lonely.” Janice Dickinson
Taking your friends on a plane could be very expensive
People who spend time in your jet are your guests. You you need to treat them well and serve them food and drinks. And yes, you could ask them to chip in, but what kind of a person would you be in their eyes afterward? Anyhow, for this reason, you would probably prefer flying alone.
Lewis Hamilton, the former F1 World Champion owns a private jet. However, other F1 drivers always chose to charter flights rather than hitchhiking Lewis. Could you guess why?
You will have to pay a luxury tax
This actually depends on the country of your residence. If you are a United States citizen, you can relax since your country has levied this tax. The tax is paid by those who own some expensive things. In other countries, this varies but they usually charge you from 5% to 30% of the luxury item’s value.
And now the insurance!
We know that you have to pay the luxury tax, but insurance is not mandatory. On the other hand, if you don’t pay for it, you may end up losing a lot. The insurance premium for a plane is even higher than that of a car. Remember that insuring your private plane is more important anything else.
Plane’s spare parts can easily break and the insurance is supposed to cover any unexpected damage. The average insurance rate is not the same everywhere, but in the USA is around 14% of its hull value.
Maintenance!
Expensive machinery = exclusive maintenance = expensive!
The strict schedule of maintenance has to be followed. Even when the plane hasn’t been flying a lot, some components still need to be replaced. And this is mandatory! Some of them even have to be replaced every three months and there is also the maintenance based on hourly flight schedule.
Private plane owners spend about $100,000 a year on maintenance costs. Reparation and additional settings are not included in this price!
You need a good pilot!
Finding the right pilot is even harder than finding a competent car driver. You have to check their experience, license, background, and most importantly, their mental state!
Again, we come to the topic of expenses. An experienced pilot (which you actually need) will charge you higher prices than newbies! What about a co-pilot? You couldn’t do without one. And then you have to give them their monthly salaries…
Do you really need it or you just want to show off?
If this is the case (you want to show off), then you should really buy a car or a yacht. You could do that. A plane is not for show off since it gets its best prospects when up in the sky and who can see it there in all of its splendor.
Of course, you could post pictures of the plane on your social media accounts, but is that all you really want? This is too expensive a thing for such a petty purpose. Better buy a really good car… or a yacht!
