The Real Cost Of Owning A HondaJet Elite II Private Jet
0:00 - Intro
This is the HondaJet Elite II, an advanced aircraft that takes performance, comfort, and efficiency to new heights. Today, we’re going to tell you everything you need to know about the real cost of owning the HondaJet Elite II.
0:35 - Purchase and Charter Price
The base HondaJet price is $6.95 million before options, and the HondaJet charter price is estimated at $3,000 to $5,000 per hour. Naturally, prices will vary depending on availability, fuel prices, ground fees, and more.
0:51 - Operating Costs
There are two expense categories to consider: fixed costs and variable costs.
0:56 - Fixed Costs
Fixed costs are those that you pay no matter what. Whether the aircraft flies or not has no effect on them, and they do not change in relation to the number of hours flown. There are five criteria that have been identified as the biggest contributors to the annual fixed cost of operation.
1:13 - Crew Salary
In terms of fixed costs, the crew salary is a significant one, because whether the aircraft is flying or not, the crew will need to be paid their salaries. This will vary depending on region and aircraft type, as the cost of labor in certain parts of the world is lower than in others. Additionally, larger aircraft require more crew.
1:41 - Crew Training
This is a cost that will keep on occurring every year, whether your aircraft flies or not. Having well-trained crew members is important, as they’re integral to the safe and efficient operation of your aircraft.
1:59 - Hangar
When it comes to aircraft storage there are two options - hangar or tie down. In most cases, owners are not going to let their planes sit out in the wind and rain. Therefore, it is a safe assumption that most private aircraft will be stored in hangars when not in use.
2:18 - Insurance
There are two types of insurance that private planes must have.
The first is liability insurance, which provides cover against loss, damage, or injury to third parties, such as passengers, cargo, and baggage.
The second is Hull Insurance, which is agreed on the value of the aircraft. Therefore, in the event of a total loss, insurers will pay the agreed value as opposed to the current market value.
3:29 - Management
An aircraft management team provides all the necessary services required to fly the aircraft. For example, sourcing and managing pilots to make sure the aircraft is airworthy, are all tasks provided by your aircraft management company.
4:05 - Miscellaneous Fixed
The miscellaneous fixed costs are made up of everything that doesn’t fit into the above categories. Things such as the fees for charts, software, and computers to manage your aircraft will be in this category.
4:25 - Total Fixed Cost
4:34 - Variable Costs
Variable costs, on the other hand, are directly proportional to the number of hours the aircraft flies per year: the more you fly the aircraft, the more it will cost you. Because of this, the estimated variable cost is presented as an hourly figure. There are four factors that we have built into the hourly variable cost figure.
4:53 - Fuel
Fuel costs are a significant hourly expense when operating a private plane. Of course, the amount of fuel that the aircraft burns per hour will vary greatly depending on its average hourly consumption. Of course, depending on location, fuel prices vary dramatically.
5:22 - Maintenance
In order to ensure that aircraft are safe to fly they require maintenance at regular intervals. These intervals are scheduled and dependent on the manufacturer’s guidelines. Maintenance is scheduled based on the number of hours flown.
6:10 - Engine Overhaul
An engine overhaul is a more serious scheduled event that is essentially the maintenance and inspection of the engine. Again, much like maintenance of the airframe, the more an engine is used, the more wear and tear it will experience. Therefore, the more hours flown the more often an engine overhaul will need to be performed.
6:38 - Crew, Landing, and Handling Fees
Crew fees are those that you need to pay the crew during an extended stay. Secondly, when landing at an airport, aircraft are charged a landing fee, which is usually based on the weight of the aircraft. And finally, handling fees go hand in hand with landing fees.
7:39 - Miscellaneous Variable
Miscellaneous variable costs are very similar to the miscellaneous fixed costs. No matter how well you plan and budget, there will always be some unexpected costs involved. Therefore, this budget accounts for the unexpected.
8:01 - Total Variable Cost
8:08 - Outro
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