worked at a FBO that did a lot of Netjets service including giving pilots rides to the terminal. Netjet pilot told me their target customer had 25 mill in the bank. that was 6 years ago or so. Netjets tail #s end in QS, Quebec Sierra, stands for quarter share which was their original business model. private jets are too expensive for average people. not as bad as superyachts but still very expensive. Superyachts figure 10% of the purchase price for yearly operating expenses. 100 mill yacht, 10 mill a year upkeep, glad i'm poor.
I'm pretty sure a typical Netjet customer does not have $25M 'in the bank'. Very few people have $25M of cash. I suspect the Netjet pilot meant these people had a net worth of $25M. Which seems appropriate for this sort of expense.
Depends on how many hours of flight you need in a year. A large cabin jet card @ 25 hours is around $350,00, so that's $14,000 an hour. Seems like a lot, but buying a new large cabin jet will run you around $25M-$40M with fixed costs of $1-2M a year (rent space or a hangar at your local airport / a full-time pilot and co-pilot on payroll year-round and they make real six-figure salaries plus benefits / pay for a maintenance subscription program because engine service is obscenely expensive and you can't just wait for something to break because you will die) plus hourly costs (fuel, landing fees, taxes, etc.) of around $5,000-$8,000/hr - and you need to pay someone to keep track of all these things, which is itself a job. So, if you are really only going to fly 25 hours a year, suddenly that $350,000 payment sounds like a bargain. There are, of course, people who fly all the time and it's probably a lot "cheaper" to own a plane at that point.
@jdean2131 In business, time is money. 💸 When CEOs make tens of millions per year, a business jet departs when and where needed. 🛩️ The business jet allows the CEO to participate in-person at multiple meetings and multiple locations in one day. I had an opportunity to travel with an executive team on the company’s business jet. I was asked because I was a subject matter expert, and was given instructions to focus on facts not opinions when asked. The finance person / CFO who was on the same flight explained the jet was used as a productivity tool. He showed me some very basic math. It supported the business jet expense. My biggest surprise flying on a business jet was this…. _It’s NOT luxury_ The executives worked the entire flight. No sleep, no idle chit-chat, just work. Over the next days, I saw them go from breakfast meetings and work straight through to after dinner networking. No leisure. No fun. I always assumed a business jet was luxury above international first class, not to be confused with domestic business class seats within the USA. 💺 International first class is way above domestic business class. I know because I’ve done both many times. ✈️ In fact, next month I will once again be sitting in an international first class seat with my wife at my side as we travel from Chicago ORD to our vacation. Based on my experience, these business jets are small, the seats are small, the one and only one bathroom is in the back and it’s very small. On my commercial first class flight, I can fully recline my seat until I’m lying flat. 🛏️ I could not do that on the business jet I was on. Shoot, at 6’2” I had to stand with my head cocked to one side and slightly hunched over on the business jet. On a wide-body comercial jet, I can stand in comfort. In the end, having done both, I concluded a business jet is the way companies squeeze more productivity out of their most expensive employees. Me? I’d take an international first class seat in large comercial airliner over a comparatively cramped seat inside a tiny tube any day. Warren Buffet once swore off business jets as a waste of company money, until he did the math. Now he’s a supporter. A 25 hour jet card, as described in this video, is the bottom of the barrel of business jet travel. It’s the business jet equal to a pre-paid cell phone. It’s a charter flight offered at a pre-paid, multi-flight discount. It’s the bottom end of chartering. It’s the Costco bulk size value can of beans. Next up comes fractional ownership, say you take 1/8th of a jet, not to exceed 100 hours in a year, where you pay a fixed annual fee and variable hourly fee. The top option is owing your own jet 100%. Actually, that’s not true because jets have frequent down times for maintenance. The top is owning two jets so when one jet is down for maintence you can use the other. Bottom line, having been there, a jet card is a way companies get the most productivity from their most expensive employees and it’s a value for the company, not an extravagant luxury for the executives. I have zero interest to fly in another business jet.
Not really, if you're filling the plane, would otherwise be flying first and want the flexibility of departure and speed of an otherwise unavailable direct route it's not exorbitant. If you're comparing this to flying first just yourself or someone else it is steep.
@@juanshaftpatel7488 Why would I pay for this when I could fly it myself while you pay for it…..😆. And if you’re commenting on this you might want to roll down the windows in your bedroom and get some air……
worked at a FBO that did a lot of Netjets service including giving pilots rides to the terminal. Netjet pilot told me their target customer had 25 mill in the bank. that was 6 years ago or so. Netjets tail #s end in QS, Quebec Sierra, stands for quarter share which was their original business model. private jets are too expensive for average people. not as bad as superyachts but still very expensive. Superyachts figure 10% of the purchase price for yearly operating expenses. 100 mill yacht, 10 mill a year upkeep, glad i'm poor.
Same here! But I'd love the chance to prove that money won't change me! Interesting stats. I can believe them.
Wow! That’s incredible….
I'm pretty sure a typical Netjet customer does not have $25M 'in the bank'. Very few people have $25M of cash. I suspect the Netjet pilot meant these people had a net worth of $25M. Which seems appropriate for this sort of expense.
At what point do you decide to just buy your own jet?
Depends on how many hours of flight you need in a year. A large cabin jet card @ 25 hours is around $350,00, so that's $14,000 an hour. Seems like a lot, but buying a new large cabin jet will run you around $25M-$40M with fixed costs of $1-2M a year (rent space or a hangar at your local airport / a full-time pilot and co-pilot on payroll year-round and they make real six-figure salaries plus benefits / pay for a maintenance subscription program because engine service is obscenely expensive and you can't just wait for something to break because you will die) plus hourly costs (fuel, landing fees, taxes, etc.) of around $5,000-$8,000/hr - and you need to pay someone to keep track of all these things, which is itself a job. So, if you are really only going to fly 25 hours a year, suddenly that $350,000 payment sounds like a bargain. There are, of course, people who fly all the time and it's probably a lot "cheaper" to own a plane at that point.
How much is a round trip ticket on Spirit.
I flew Spirit to Florida for $79 each way.
Isn't $9,400 an hour a little high.
is $500,000 for your heart surgeon a little high?
@@tomdick693yes, but there's not an Spirit alternative to open Heart surgery either😮
@@tomdick693 No heart surgeon is getting $500K an hour.
Heart surgery and flying??? Quite the obtuse comparison. You get a stupid comment award. @@tomdick693
@@tomdick693no, probably underpaid for that type of physician honestly
That’s a very expensive to fly.
Then you are not a billion aire
Your information is wrong
Prices on the website😂
Link please @@CryptoNerd-l3u
Who is the tall girl whose face you can see for about one-fifth of a second?
One of the most stupidest offer to fly private.
Any business person worth their salt would laugh at this proposition. Ridiculous!
you must be too poor to understand its a no brainer
@jdean2131
In business, time is money. 💸
When CEOs make tens of millions per year, a business jet departs when and where needed.
🛩️
The business jet allows the CEO to participate in-person at multiple meetings and multiple locations in one day.
I had an opportunity to travel with an executive team on the company’s business jet. I was asked because I was a subject matter expert, and was given instructions to focus on facts not opinions when asked.
The finance person / CFO who was on the same flight explained the jet was used as a productivity tool. He showed me some very basic math. It supported the business jet expense.
My biggest surprise flying on a business jet was this….
_It’s NOT luxury_
The executives worked the entire flight. No sleep, no idle chit-chat, just work.
Over the next days, I saw them go from breakfast meetings and work straight through to after dinner networking. No leisure. No fun.
I always assumed a business jet was luxury above international first class, not to be confused with domestic business class seats within the USA. 💺 International first class is way above domestic business class. I know because I’ve done both many times.
✈️
In fact, next month I will once again be sitting in an international first class seat with my wife at my side as we travel from Chicago ORD to our vacation.
Based on my experience, these business jets are small, the seats are small, the one and only one bathroom is in the back and it’s very small.
On my commercial first class flight, I can fully recline my seat until I’m lying flat. 🛏️ I could not do that on the business jet I was on.
Shoot, at 6’2” I had to stand with my head cocked to one side and slightly hunched over on the business jet. On a wide-body comercial jet, I can stand in comfort.
In the end, having done both, I concluded a business jet is the way companies squeeze more productivity out of their most expensive employees.
Me? I’d take an international first class seat in large comercial airliner over a comparatively cramped seat inside a tiny tube any day.
Warren Buffet once swore off business jets as a waste of company money, until he did the math. Now he’s a supporter.
A 25 hour jet card, as described in this video, is the bottom of the barrel of business jet travel. It’s the business jet equal to a pre-paid cell phone. It’s a charter flight offered at a pre-paid, multi-flight discount. It’s the bottom end of chartering. It’s the Costco bulk size value can of beans.
Next up comes fractional ownership, say you take 1/8th of a jet, not to exceed 100 hours in a year, where you pay a fixed annual fee and variable hourly fee.
The top option is owing your own jet 100%. Actually, that’s not true because jets have frequent down times for maintenance. The top is owning two jets so when one jet is down for maintence you can use the other.
Bottom line, having been there, a jet card is a way companies get the most productivity from their most expensive employees and it’s a value for the company, not an extravagant luxury for the executives.
I have zero interest to fly in another business jet.
Not really, if you're filling the plane, would otherwise be flying first and want the flexibility of departure and speed of an otherwise unavailable direct route it's not exorbitant. If you're comparing this to flying first just yourself or someone else it is steep.
lol you can write it under your business expense in the books so I don't know why any business that can easily afford this wouldn't
@@juanshaftpatel7488 Why would I pay for this when I could fly it myself while you pay for it…..😆. And if you’re commenting on this you might want to roll down the windows in your bedroom and get some air……
❤❤❤❤❤❤❤❤