Many dream of owning an airplane, but there's more to the cost of ownership than paying the purchase price. Ownership cost includes fixed costs like insurance, hangar rent, and depreciation and variable costs like fuel, maintenance, landing fees, and crew salaries. These can vary dramatically based on aircraft type, age, and flight frequency.

For example, the cost of flying a light jet would be between $1,000–$2,000 an hour, while bigger corporate jets would run into well over $5,000/hour. Annual fixed costs would be anything from $200,000 to well over $1 million.

Its careful planning, periodic maintenance, and selection of the most suitable aircraft according to your needs are crucial to keep these costs in check. Many also consider shared ownership or chartering to balance costs.

As a private pilot, business traveler, or entrepreneur with diverse travel needs, having an idea of the actual cost of aircraft ownership is vital in long-term planning and running a successful operation.