Can you make money renting out your private jet? 🛩️👀

Hey Steve, can I make money buying a private jet and renting it out?

Good question. Why don't you have a seat and I'll tell you. If you own a jet, by renting it out, it's going to reduce your cost of operation. But really, to buy a jet just to rent it out and make money, that's going to be very hard to do. You'd have to fly it a lot of hours. Long story short, no. And that's because you'd have to fly the airplane so many hours to get enough money to pay for the operating costs, the fixed costs, and the cost of the airplane.

So then how do charter companies make money?

Charter companies usually have airplanes that they're operating for people who already own them and they're using it for their own use. And what the charter companies to do are basically flying the airplanes, subsidizing the cost of the owner's flights.

Thank you, Steve. Now I know where to come when I buy my private jet.

I'll see you soon.