When you own your own plane, you’re free to travel where you want and when you want. You aren’t at the mercy of the airlines and their schedules. You don’t need to worry about flying with your knees in your chest while sitting mere inches from your neighbor.
On the downside, you feel like you’re always arranging for routine maintenance and paying for small repairs. Plane ownership comes with wonderful perks and big responsibilities to keep it in peak condition.
While there are many aviation management companies out there, you need to work with one that you can trust to keep your plane maintained and serviced while minimizing your expenses. You need to understand the aircraft maintenance cost breakdown a little better. Find all the answers you need:
How Often Does a Private Jet Need Maintenance?
The easy answer to “how often does a private jet need maintenance” is all the time. When you own a private jet, it certainly feels that way. The Federal Aviation Administration (FAA) oversees the safety of all planes that fly from a crop duster to a Boeing 777 owned by Delta airlines.
The FAA offers strict guidelines on when planes need maintenance. In some cases, the maintenance is done on a calendar schedule — every three months or every six months — while other types of maintenance are completed according to the number of hours the plane has flown, such as every 200 hours of flight time.
When you hire a mechanic to take care of your private jet’s maintenance needs, you have to make sure that the person you hire is licensed by the FAA to work on it. The FAA ensures that the mechanics that perform routine maintenance have the necessary skills and education to keep your private plane in excellent running condition.
Your mechanic also keeps a log per FAA regulations detailing all the dates and maintenance performed on your plane. This also includes small repairs or part replacements that are completed as part of your plane’s regular maintenance schedule.
How Much Does Private Jet Maintenance Cost?
When you own a private plane and arrange for its maintenance on your own, you pay a premium because you don’t have a good bargaining position. Private jet maintenance is done according to a schedule outlined by the FAA, but there are a few factors that can affect your final costs, including:
- Location of your hanger
- Age of the plane
- Your plane’s make and model
- How much time the plane spends in the air
To arrive at your total yearly cost of maintenance, you need to factor in the costs of labor and the costs of any needed parts. Depending on the type of private jet you own, you can expect to pay between $500,000 to $1,000,000 each year for routine maintenance.
However, you can save yourself some money and time. When your jet needs maintenance, you need to locate a qualified mechanic and get prices. This can eat into your spare time. When you hire an aviation management solutions company, you can reduce your maintenance costs.
A company that specializes in aviation services management can save you money. First, you don’t need to waste time finding your own mechanics and keeping up with your private jet’s maintenance schedule. Second, aviation management companies have a good bargaining position for lower maintenance costs. They’re in charge of hiring the mechanics for dozens of planes, so they qualify for lower pricing for maintenance, which they pass along to you.
Breakdown of the Cost of Airplane Ownership
You know the benefits of owning your own plane come with a hefty price tag. To breakdown the costs of airplane ownership, you need to look at some of the individual components, such as:
- The purchase price of the plane ranges between $2 million and $500 million.
- The cost of aviation fuel runs between $500 and $1,500 for each hour of flight time.
- The salaries for a pilot, co-pilot, and flight attendant run $2,500 and $8,500 per hour of flying time.
- The cost of routine maintenance costs between $500,000 to $1,000,000 each year, including the cost of parts and labor.
When you opt to use a trusted aviation management service, they can help you save money on some of these essential costs because they represent multiple owners of private jets, which provides them with the ability to negotiate fleet pricing. Aviation management companies can also help you charter your plane when you aren’t using it to recoup some of your expenses.
While enjoying the luxury of a private jet, you can still save money on costs by hiring the right aviation management solution. Mayo Aviation is ready to partner with you to keep your private jet in impeccable condition with minimal effort on your part. Contact us today!