Here for how much does jet fuel cost? How Much Does It Cost To Fuel A 747? how much does it cost to fuel a private jet? The Boeing 747 burns approximately 10 to 11 tonnes of fuel an hour when in the cruise. This equates to roughly 1 gallon (approximately 4 litres) of fuel every second. It can carry up to 238,604 liters of fuel. It has a range of about 7,790 nautical miles.
A jumbo jet (Boeing 747-400) flying from London to New York burns approximately 70,000 kilograms of fuel. Jet fuel has an approximate specific gravity of 0.85, which therefore equates to 82,353 litres.
how much does it cost to fuel a private jet
How Much Does It Cost To Fuel A 747
Therefore the cost of the fuel (based on 1 litre costing 31 pence) required to fly from London to New York is approximately £18,500 (€23,600). The cost of fuel for a a jumbo jet carrying 450 passengers, would work out as about £41 (€52) per person.
The amount of fuel an airliner needs — and thus the cost — depends on many factors, including aircraft type, weight and direction of travel. Here are some price estimates provided to TPG based on data compiled by Airlines for America. The prices are averages collected from January to May 2019.
Los Angeles International to Tokyo Narita: This trans-Pacific hop uses an estimated 9,500 gallons of jet fuel at an estimated price of $19,190.
New York JFK to Los Angeles International: This popular transcon flight uses an estimated 5,325 gallons of jet fuel at an estimated price tag of $10,757. The return to New York uses slightly less fuel at 5,075 gallons with an estimated price of $10,252.
Chicago O’Hare to Miami International: Heading southbound, this flight operates using an estimated 2,350 gallons, with an estimated cost of $4,747. On the northbound return, the cost estimate soars to $7,201, using an estimated 3,565 gallons.
Denver International to San Francisco International Airport: This particular route can see significant variances in fuel quantity and pricing because of the variety of aircraft operating between the two cities. On average, aircraft fill up with an estimated 3,500 gallons of jet fuel, costing an estimated $7,070. However, price can vary from $4,040 on the low end to $14,140 on the high end.
How Airlines Purchase Fuel
Many of us drive around in search of the cheapest gas prices, but for the nation’s airlines, filling up aircraft isn’t so simple.
“It’s not like you can pull up to the Costco pump,” said Helane Becker, an airline analyst and managing director of Cowen & Co, an investment firm. Whoever has the contract to supply an airport with fuel is going to be supplying the aircraft there, she said.
Collectively, United States air carriers burn through 17 billion gallons of jet fuel annually, a number that has remained consistent over the years as aircraft and engine makers devise more fuel-efficient equipment even as they fly more miles.
Over the last few years, oil prices have fluctuated. They averaged $66 per barrel in the first half of 2019 but saw a low of approximately $30 in January 2016.
how much does jet fuel cost
From natural disasters to political upheaval, disruptions in oil supply can alter the fuel costs incurred by airlines. The “same things that affect gasoline will affect jet fuel prices,” said Becker.
The fluctuations in jet fuel prices can have an impact on ticket prices, but it’s not necessarily immediate. And there is not a direct link between a single change in the price of oil and a specific change in the cost of an airline ticket, according to Becker.
If there is a spike in fuel prices, it takes two to four months for airlines to raise their ticket prices, said Becker. She adds that there is a six-month lag between a decline in fuel prices and a drop in ticket prices.
While US airlines cannot impose fuel surcharges on domestic flights, fuel surcharges are imposed on international flights as prices go up or down, she said.
Finding a Good Deal
In an effort to offset price fluctuations, many airlines will use “call options” (options to buy an asset at an agreed price on or before a particular date) as an insurance policy of sorts by signing a nonbinding agreement with a seller, in case the price of fuel were to spike.
In the past, some carriers, such as Southwest, hedged fuel purchases, securing a long-term rate when prices are low. However, that strategy can backfire if costs drop instead and the airline is stuck with a higher price.
What are the most popular private jets?
With private aviation showing robust growth over the last few years, latest demand for exclusive flight services exceeded pre-recessionary levels over the course of 2017-2018. This is underpinned by strength across all segments of the industry including private jet rentals and used jet purchases. In this market currently, the most popular private planes are:
- Bombardier Challenger 350: According to data released by the General Aviation Manufacturers Association, the Bombardier Challenger 350 made 60 deliveries in 2018 continuing its upward trajectory from 56 in 2017. Offering excellent range of 3,200 nautical miles (5,926 kilometres) integrated with leading-edge technology, cabin comfort and design, it is consistently the first choice of experienced flight operators around the world. Powered with an impressive range of performance attributes, the planes are designed to purvey an exclusive private jet experience.
- Cessna Citation Latitude: After entering the private jet landscape in 2015, the Cessna Citation Latitude has consistently ranked amongst the top 10 best private medium jets in a host of range and performance metrics. As the most-delivered midsize jet for the third year in a row, the Cessna can accommodate 9 passengers with a seats-full range of 2,877 nautical miles. Offering increased comfort through a lower cabin pressurization, the Latitude also offers the most spacious cross-section of any Citation built by Cessna.
- Embraer Phenom 300: From 2013 to 2016, the Phenom 300 (now 300E) was the most-delivered light private jet in the world. As the fastest and longest-range single pilot aircraft in the world, the planes are designed with gen-next avionics, impressive cabin space and a top speed of 834 kilometres per hour. Seating 11 passengers, these planes are powered to achieve peak ranges of 3,650 kilometres.
What are the best business jets?
While business travel was traditionally regarded as the primary use of private jets, latest technology advancements and increased wealth have made private flying – which is considered the most expensive form of flying – more accessible to leisure travellers as well. Nevertheless, the corporate market still represents a substantial share of the overall industry. Below are some of the planes best equipped for corporate travel:
- Embraer Legacy 600: Via the feature of a spacious cabin space, the Embraer Legacy 600 can accommodate up to 13 passengers and is segregated into three areas within the cabin plus a galley and washroom. This makes it ideal for business travel, enabling the passengers to work, relax and interact separately while the galley is large enough to house a 3-course dining menu configure option. For clients travelling in larger groups or preferring to bring more luggage aboard the plane, this aircraft offers an exclusive experience that lies at the intersection of comfort and economy.
- Airbus ACJ 319/320 NEO: While the commercial counterpart has seating for 160 passengers, the Airbus ACJ in its private jet avatar accommodates approximately 18. The space is instead taken up by conference rooms, dining tables, and a VIP suite that boasts a bedroom, en-suite shower and office. Coupled with trademark fuel efficiency and quieter engines, the Airbus ACJ 319/320 is a recurring favourite of top 10 lists, business executives and sports personalities.
- Dassault Falcon 7X/8X: While the Dassault made its name in the military and commercial aircraft space, the larger Falcon jets carved out a niche in the business space due to their impressive range (5,950 nautical miles), a digital flight control system and an ability to customize the plane’s interiors into 30+ formats depending on usage priorities. With the versatility to make both long-range and short-range trips courtesy of a tri-jet engine, the Falcon models offer speed, efficiency and improved comfort.
Best private jets for international travel
Over larger, long-haul flights, commercial travel can often be cumbersome, time-consuming and inefficient. For clients seeking to alleviate these factors when travelling internationally, the following options have consistently been recognized in media articles as the latest champions of long-range travel:
- Gulfstream G650ER: Passengers looking for comfort, range and high speeds need to look no further than the G650ER that offers a range of 14,000 kilometres with 14 hours of flying time. Coupled with best-in-class cabin altitude of 3,290 feet, and a cabin that is longer and higher than any other ultra long-range private jet, the plane has seating for 19 passengers and can carry up to 103,600 lbs. of luggage. Inside the plane, there is a flexible cabin design with the option to customize the layouts to passenger preferences, handcrafted seats, digital audio/video equipment and porcelain dinnerware for a truly high-class experience.
- Bombardier Global 6000: The closest competitor to the Gulfstream is the Bombardier Global 6000, eponymously named for its ability to fly 13 hours or 6000 nautical miles (11,000 kilometres). Powered with industry-leading technology and performance, the 6000 is designed to provide a smooth ride, complete with wider leather seats, hardwood flooring and ultra-fast digital connectivity. All cabin controls are available at a single click while a large media bay enables passengers to wirelessly watch movies, mirror live streaming or display documents onto HDTV monitors, making it the perfect option for long-haul flights.
- Boeing VIP Dreamliner: As the most expensive option on the private jet charter market, the Dreamliner was originally designed to carry up to 335 passengers and bags. In the private jet version, it can carry up to 40 passengers for a range of 15,000 kilometres (17 hours flying time). The Dreamliner is separated into a master suite with a close en-suite washroom, a spacious main lounge, a guest cabin, and kitchen.
Most luxurious private jet interiors
While private planes have certainly enjoyed the largest resurgence in recent times following the recession in 2008, there are some models that truly stand out even amongst this exclusive set of aircraft that are reputed for luxury and resplendence. Some of the latest, most expensive, and notable ones include:
- Boeing 747-8 Intercontinental BBJ: As the most expensive plane in the world, the 747-8 Intercontinental BBJ has approximately 4,800 square feet of space with a full office, bedroom and grand dining room, which can further be transformed into a corporate boardroom based on the passengers’ usage needs. As far as luxurious interiors go, the Dreamliner is headlined as the “Queen of the Skies” with a $403 million price, dazzling passengers with gorgeous interiors complete with wide, leather seating, and a breathtaking design that can be configured into the passenger’s preferences.
- Boeing 757: The plane probably holds a place in recent public memory as President Donald Trump’s personal air travel vehicle of choice after he bought it for approximately $100 million from Microsoft co-founder Paul Allen in 2011. Powered with Rolls-Royce RB211 turbofan engines, the plane has a silk-lined master bedroom, master bathroom with 24-karat gold features, big-screen entertainment with leather seats, dining room, private guest room, 2 bedrooms, galley and main lounge – all features that serve to exemplify the palatial aura.
Which is the best private jet to buy?
Due to the increased popularity of charter flying and an undeniable asset appeal, private planes have attracted a range of long-term investors who seek to leverage its demand from high net-worth individuals and/or other flying enthusiasts. However, private jets are multi-million dollar prospects from an up-front capital outlay perspective with that must be managed carefully. As such, a premium is placed on value retention and durability over the life of the plane.
- Cessna Citation family planes: In the private jet market, Cessna planes have a reputation for being workhorses. In a study conducted by AVBuyer in 2015, three Cessna planes (CJ3, CJ2+ and CJ1+) ranked in the top 10 private jets that had the lowest depreciation (assuming standardized policy) over 10 years. It speaks to the resilience and longevity of the planes across different versions. However, beyond their operational excellence, Citation jets also fulfill a key need for prospective private jet owners. By fulfilling a popular goal to have a private jet that is still within affordable price parameters, the Cessna family of planes the preferred choice of many corporate houses and “newly-rich” business executives.
- Gulfstream G550: A new G550 is worth approximately $61.5 million depending on configurations. In the same study mentioned above, it achieved 10-year depreciation of 35% i.e. 65% price retention after 10 years. As the most successful model in Gulfstream history, the aircraft is equipped for long-range flights, with annual costs of $2.85 million equating to a per hour cost of $7,135 (assuming 400 flight hours).
- Embraer Lineage 1000E: With a $53 million price tag, the Embraer 1000 and 1000E version pack a punch with its overall offering. In the ultra-large segment, it offers the lowest cabin altitude with a maximum range of 4,500 nautical miles that enables it to go from London to the US east coast, Riyadh from Beijing and Lima from Los Angeles. It is also for this reason that it is a popular choice amongst buyers from the Middle East.
Most luxurious & fastest private jets in the world
Users of private planes primarily value three things: comfort, convenience and time. As such, it is pertinent to explore the aircraft that provide luxury matched with speed for truly exclusive experiences tailored towards discerning travellers:
- Dassault Falcon 900B ($45 million): The fuselage of the Dassault Falcon 900 is built from a combination of materials including Kevlar, titanium and carbon fiber allowing the jet to weigh significantly lower than other in-class twinjets. This then translates into significant fuel economy and a top speed of 644 miles per hour with a range of 4,598 miles. Equally impressive on the interior, the 900B carries on the Dassault Falcon tradition of spacious cabins, leather interiors and quality craftsmanship to provide an unparalleled luxury flight that delivers passengers refreshed and on time to their destinations.
- Bombardier Global 7500 ($73 million): In December 2018, the G7000 entered the markets and consolidated its place as one of the fastest private jets in the world with a top speed of 650 miles per hour. In 2021, the aircraft’s cabin then won the Red Dot Design Award for its clean aesthetics, viewing windows and leather interiors. At an impressive range of 7,700 nautical miles, this flight coalesces luxury and speed like no other.
Best private jet trips
As private jets have proliferated in popularity, there has been a good level of interest in rentals for milestone birthdays, large celebrations and other milestone moments in people’s life. From a leisure perspective, some of the most popular private jet destinations include:
- Rome and Paris: In Europe, Rome and Paris remain tourism hotspots frequented by people from all over the world. In recent times, airport statistics have showed accelerated inbound activity from private planes in these two destinations. Offering a delectable range of historically significant attractions, natural beauty, and cultural appeal, these two cities encourage big-ticket purchases by offering excellent infrastructure to accommodate private flying and value for money over the duration of the stay.
- Las Vegas: The social scene of the American city is legendary the world over, and has been crystallized over the past few decades via media articles and Hollywood. It is no wonder then that Las Vegas ranks as amongst the go-to places – particularly amongst the younger demographic – for luxurious social gatherings and life events.