To comfortably own a jet like the Embraer Praetor 600, you're looking at a $25 million purchase price and $1.5 million annually for 400 flight hours. The real question isn't how much you need to earn, but whether you actually need the plane for your business.
Chapters
Hey Steve. Yeah, what's up? How much do I have to be earning to comfortably own this jet? First of all, this is an Embraer Praetor 600, about a $25 million jet. But you're asking the wrong question. You have to go the other way around. If you want to talk about how much you can afford, you must have a company that has a need for an airplane. So then you want to reverse that question and say, what do I need the airplane for? I need to carry so many people. My budget's going to be this much money. I need to go that far. And then based on those questions, we figure out what airplane fits those parameters. You really don't look for the airplane and then decide how much it is to afford it because you don't even know if that airplane is going to meet your needs. But that being said, besides for the purchase price of this kind of airplane, the operating cost for an airplane similar to this is somewhere around $1.5 million a year, and that's to fly about 400 hours. And put that into measurement that most people recognize, if you go on the airlines and you get the Platinum status, you're probably flying around 100,000 miles, and that's equivalent to about 200 hours a year. So I'm talking about flying this 400 hours a year. That's the average number of hours that most people, most companies use their corporate jets for. I sell jets like these all the time, and if you want to learn more, make sure you follow.
