Private Jet Plane Price

What does it take to rent a private plane? What does it take to rent a private plane? What does a private jet cost? No.

Privatjets are getting cheap.

EONE of the first commercial jet aircraft belonged to Harry Ogg, the chairman of a laundry equipment group. The four-person plane purchased in 1929 was called "Smilin' Thru" and was equipped with a writing table, a type-writer and room for washers. Ogg said to the pilots on sale journeys that he should go deep over a city with the airplane's alarm blowing.

Since Ogg's arrival, most aspect of business aircraft hiring have evolved. Aircraft are more likely to be held by a hedge funds executive than a hardware retailer. After all, private jet fares have fallen in recent years, as Bloomberg recently announced. Especially the price in the Second-Hand supermarket is sinking.

By 2016, the median price for a used private aircraft was 56% of the acquisition price, compared to 91% in 2008, according to JetCraft, an aircraft agent. According to Barry Justice of Corporate Aviation Analysis & Planning, a consulting firm, Bloomberg, such rebates are "crazy". De Colibri Aircraft, a used aircraft brokers, investigated the price changes for used aircraft between April 2014 and April 2017.

Even the new private jet segment is in a slump. Selling figures have declined since their climax, before the onset of the global economic downturn, and price levels have risen in recent years. There is a flood of business jet engines sweeping the markets and forcing many OEMs such as Gulfstream and Bombardier to reduce output.

As Oliver Stone of Colibri Aircraft said in the Financial Times, this continues to depress second-hand fares. In spite of an economical rebound in America, the private jet market is still weaker. Turnover in developing countries declined after the collapse of raw material costs in 2014. The streamlining of the company's business volume has further curbed growth in consumer spending. Tesco, a hypermarket, either resold or gave back its five aircraft in 2014 and 2015.

GE announces the sale of its company fleets in September. This is a good thing because it will not get much for its aircraft on the second-hand aircraft markets.