Private Jet Ownership: Why Wealthy Flyers Are Making the Switch From Chartering
Buying a private jet might be a symbol of success, but prospective owners should not expect it to make them money, according to the private aviation expert.
Shwan Aziz from London-based The Jet Business says customers typically begin considering aircraft ownership when they are chartering around 200 to 250 hours annually, with the convenience of having an aircraft available when needed becoming a key factor.
“Once you get to 250 hours a year of chartering, it can be quite tedious,” he says. “Consistently speaking to charter companies about how long a flight is, negotiating costs. That’s when you start considering it.”
However, Aziz warns against viewing an aircraft as an investment, citing the substantial costs associated with ownership.
“We never tell our clients to purchase an aircraft as an investment. That’s a fallacy. You will always lose your money,” he says.
Owners face significant fixed and variable expenses, including maintenance, crew and operating costs.
Chartering out an aircraft when it is not being used can help offset some of those expenses, but generating a profit remains difficult without the economies of scale offered by operating a larger fleet.
Steve Varsano is the founder of The Jet Business and became president of Flexjet following the acquisition earlier this year.
Younger buyers enter private aviation
The profile of the typical private aviation customer is also changing, with younger wealthy individuals increasingly entering the market.
Aziz points to industry trends suggesting the average age of private aviation customers is falling. He recalls that Flexjet, the private aviation company that acquired his business, had indicated its average customer was in their late 30s, although he cautioned that he could not confirm the precise figure.
The shift reflects the growing appeal of private aviation among entrepreneurs and business owners seeking greater flexibility and control over their travel.
In the Middle East, Aziz says demand for charter flights has increased, but this has not translated into a similar rise in aircraft acquisitions.
He also points to geopolitical uncertainty as a factor influencing travel decisions, with some passengers turning to private charter as an alternative to commercial aviation.
The hidden cost of owning a jet
Beyond the purchase price, maintenance is one of the biggest considerations for prospective aircraft owners.
Aziz cites the Dassault Falcon 7X as an example, explaining that major C-check inspections can cost an estimated $3 million to $5 million and potentially take an aircraft out of service for four to six months.
The timing depends on the aircraft’s maintenance schedule and history, but such inspections can represent a substantial financial commitment.
“People think you can just acquire an aircraft and then that’s it,” Aziz says. “But unscheduled and scheduled maintenance intervals pop up, especially the big ones.”
The downtime can also disrupt travel plans, undermining one of the principal reasons for buying an aircraft in the first place: convenience.
Despite private aviation’s reputation for extravagance, Aziz says clients are not necessarily requesting unusual onboard features such as saunas or hot tubs.
Most owners use their aircraft primarily to save time, rather than recreate the leisure experience associated with luxury yachts.
Among the prominent names associated with the business is entrepreneur and motivational speaker Tony Robbins, whom Aziz identifies as a notable client.
For aspiring owners, his advice is clear: private aviation can offer valuable flexibility, but the financial realities extend well beyond the initial purchase.
