Steve VarsanoFounder at The Jet Business

Private jet expert reacts to Sidemen

Name: Private jet expert reacts to Sidemen
Uploaded: 2024-02-22T23:34:03+00:00
Duration: 5 s
Channel: Steve Varsano
Description: In this reaction segment, private‑jet specialist Steve Varsano discusses whether ultra‑wealthy individuals should purchase a private jet or simply…

22 Feb 2024 · 0 min

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In this reaction segment, private‑jet specialist Steve Varsano discusses whether ultra‑wealthy individuals should purchase a private jet or simply charter one. He explains that those with modest billionaire‑level wealth may lack a consistent need for ownership and would be better served by chartering, while those with substantially larger fortunes (e.g., £100 billion) might have legitimate reasons to own a corporate jet. Varsano also touches on the typical cost structure of jet ownership, citing figures such as £1.5 million annual maintenance and £3‑5 million for storage, highlighting how these expenses influence the decision between buying and chartering. The dialogue reflects a pragmatic, cost‑focused perspective on private‑jet economics.

I think if you gave me a billion pounds tomorrow, I wouldn't buy a private jet. You just charter them.
If you don't have a need to buy a private jet, then obviously if you have £100 billion, you wouldn't buy a private jet. But most people who have a billion pounds probably have a reason to fly around in a corporate jet. Yeah, you could charter one. There's no question about it. If you don't have a real need for one and you just need it from time to time, he's right. Just charter one.
But it's like a goal though, right? I think they told us it was something like Yeah, like $1.5 million in maintenance and like $3 to $5 million in storage, or the other way around.
It's not going to cost $3.5 million for maintenance. It's not going to cost $3.5 million for storage. Storage, what he's talking about, is a hangar or equivalent in a car for a garage. First of all, you don't need to put it in a hangar. You can just park it on the ramp, and the cost on the ramp is anywhere from $50 to $1,000. To park it on the ramp and in the hangar, it costs you probably between $500 and $5,000 a month to park in