Aircraft
Aircraft can be categorized into several types based on their engine and design characteristics. Piston aircraft, typically used for general aviation, rely on traditional internal combustion engines and are known for their efficiency at lower altitudes. Turboprop aircraft use a turbine engine to drive a propeller, offering greater speed and range than piston planes while still being cost-effective for regional travel. Light jets are designed for shorter trips, providing a balance of speed and comfort, while mid-size jets offer more space and range, making them suitable for longer flights and larger groups. Each category has different needs, from recreational flying to business travel.
Cessna 414
*Please note that all of the following numbers are rough estimates. Each make and model of aircraft has its own strengths and weaknesses.
Single-Multi Engine Piston
The acquisition costs for the piston aircraft category range widely from $150,000 to $1 million. Pistons are most efficient on missions that are less than 250nm. Yearly costs depend on aircraft make and model, but expect to have costs somewhere between $10,000 to $30,000.
Single-Multi Engine Turboprop
Acquisition costs for turboprop aircraft will range anywhere between $1 million to $5 million. Turboprop aircraft are most efficient on missions that range between 300nm to 600nm. On average, fixed costs and variable costs will run you between $500,000 to upwards of $700,000.
Daher TBM 960
Cessna Citation CJ4
Light Jets
Acquisition costs for light jets differ completely based on the age of the aircraft. An older light jet can be had for anywhere from $1 million to $3 million. A newer light jet will run you anywhere between $5 to $11 million. Light jets are most efficient on trips between 1,000nm to 1,800 nm. The annual cost to own and operate a light jet, on average, runs between $900,000 to $2 million.
Mid-Size Jets
The cost to acquire a mid-size jet will run you anywhere between $10 million to upwards of $18 million. Mid-size jets are most efficient on trips between 1,500nm to upward of 3,000nm. Another appeal of mid-size jets is the larger cabin space; many mid-size jets, including the Cessna Citation Latitude, Bombardier Challenger 350, and Gulfstream G280, all offer cabin heights of 6 feet or more. Annual costs to own and operate a mid-size jet will likely run anywhere between $1.5 million to $2.5 million.
