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Net Jets vs. Private ownership

Discussion in 'Jet Aviation Discussion' started by NEO56, Aug 16, 2014.

  1. NEO56

    NEO56 New Member

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    Aug 16, 2014
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    Myself along with two other partners have started up a new Oil company, buying existing producing wells. I'm contemplating a business jet, but have been told that you can't justify the costs of owning a jet unless you log more than 300 hours a year. First, is that an accurate number? And based on my claustrophobia, about the smallest thing I could handle is a Hawker 800 or 900XP, or a G200. Based on what's currently for sale in these two models...seems like we could buy a LOT of hours, or a 1/8 or 1/4 ownership, and still be able to write the costs of fractional ownership. So? Which is the smarter route....Net Jets or Ownership?
  2. P38wannabe

    P38wannabe New Member

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    Dec 12, 2014
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    Net Jets is very expensive and the number is more like 100 hours - how many hours are you planning to fly annual?
  3. NEO56

    NEO56 New Member

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    Aug 16, 2014
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    I really don't have a number yet, although one of our partners just moved up to Maine that equation might have to change. I don't want to argue the point with you but I can't see setting up a corporation, buying a jet, new or used, employing two pilots, one to three mechanics, fuel, insurance, a hanger, etc. just for 100 hours a year. I've done my homework and 300 hours a year minimum is required before you can even begin to make the numbers work on owning your own plane. With a 1/8 or 1/4 fractional ownership in a Hawker 900xp, you're looking at about $5,000 to $6,000 per flight hour. That's sounds expensive, but Net Jets is one of the best run companies in the U.S., Warren Buffet sees to that. And not having to deal with employee's and expenses of owning a jet, and the fact that I can call for a flight within 6 hours of needing one, show up and have a plane ready to go with catering already on board, and not having to go through security is worth every penny Net Jet charges.