Owning and operating a private jet like the Falcon 8X is undoubtedly a luxurious and expensive affair. The cost of operating a private jet can vary depending on various factors such as fuel prices, maintenance costs, and other related expenses. In this article, we will explore the cost of running a private jet like the Falcon 8X.
First, let’s take a look at the initial purchase cost of a Falcon 8X. As of 2021, the cost of a brand new Falcon 8X is around $59 million. However, many owners choose to purchase pre-owned jets, which can cost significantly less.
Now let’s look at the ongoing costs of operating a Falcon 8X. One of the most significant expenses is fuel, which can cost around $2,000-$2,500 per hour of flight time. The Falcon 8X has a maximum range of 6,450 nautical miles, which means that a typical flight from New York to London would cost around $100,000 in fuel costs alone.
In addition to fuel costs, there are other expenses to consider, such as maintenance, insurance, crew salaries, and hangar fees. The cost of maintaining a Falcon 8X can be around $700,000 per year, and insurance can cost several hundred thousand dollars annually. Crew salaries can also be a significant expense, with pilots and flight attendants earning an average salary of around $100,000-$200,000 per year.
Finally, there are other expenses to consider, such as landing fees, catering, and ground transportation. These expenses can vary depending on the location and duration of the flight.
The cost of operating a private jet like the Falcon 8X is undoubtedly expensive, with fuel costs alone averaging around $2,000-$2,500 per hour of flight time. When you add in other expenses such as maintenance, crew salaries, insurance, and other related costs, the total cost of operating a private jet can quickly add up to several hundred thousand dollars or more per year.
Costs in Detail
Direct hourly costs
At $5 per gallon, the Falcon 8X consumes 346.50 gallons of gasoline per hour, or $1,732.50 per hour. The typical hourly cost of maintenance on the Falcon is $835.69, which includes $600.43 for the engine and APU and $235.26 for the airframe. Your total direct hourly cost, including gasoline and maintenance, is $2,568.19. You’re looking at an annual direct operating expense expenditure of $939,957.54 at 409 hours (200,000 miles).
Annual Fixed Costs
Your yearly payment to the Falcon crew will be around $227,175.00. The expense to hangar the 8X for a year is approximately $78,800.00; the cost of insurance is $44,850.00; and the cost of pilot training is $64,155.00. Considering everything, the overall annual fixed costs will be around $414980.00
Total annual cost: $1,354,937.54