See How much you need to be making to comfortably own a private jet

Turns out, not as wealthy as you might have thought, but you’ll still need to be well off. The cost of private jet ownership has gone down in some key areas, with the popularity of these aircraft on the rise, and more used jets on the market to choose from.

There are also many different financing options available for private jet ownership. You can purchase a jet outright, enter into a share agreement, or lease a jet. There are also a number of different jet card programs that offer private jet travel at a fixed price.

To buy a 6.2 million private jet, you need to earn at least 24 million per year before taxes, Even with 20% down, the monthly payments and costs to maintain it would be around 197,000. Charter flights are way cheaper if you don’t want to spend that much, costing about $4,000 per hour instead of owning them outright.

How much money does a normal person with a private plane have?

As may be expected, a private jet owner’s average net worth rises proportionally with the size of their plane. In general, buying, maintaining, and operating a bigger plane will cost more money.

A good illustration is the fact that bigger planes nearly usually use more fuel than their smaller counterparts. A larger plane has higher storage, personnel, and maintenance costs than a smaller one. Long-range operations also need the employment of heavier aircraft. Because of this, the overall cost of the mission will be higher than it would be with a less expensive aircraft.

Therefore, the wealth of those who possess private jets rises in proportion to the size of their planes.

Costs of Owning and Flying a Private Jet in Nigeria

Flying a private jet in Nigeria is an expensive lifestyle. Depending on the type of jet and the size of the jet, you can expect to pay anywhere from $2 million to $100 million.