Taking to the skies in your own aircraft offers unparalleled freedom and flexibility. However, the thrill of piloting your own plane comes with a significant financial commitment.
This article provides a clear breakdown of the costs associated with aircraft ownership, using the Cessna Citation as an example.
There are two main categories of expenses to consider: one-time costs and recurring expenses.
One-time costs represent the initial investment to acquire your aircraft. This includes:
This is the biggest one-time cost and will depend heavily on the specific Cessna Citation model you choose. The Citation series ranges widely in price, with new models reaching tens of millions and pre-owned models starting in the millions. Here’s a rough idea of price ranges for different Citation models:
Cessna Citation M2: $4.5 million (starting price)
Cessna Citation CJ3+ : $8 million (starting price)
Cessna Citation CJ4 Gen2: $7 million (starting price)
Cessna Citation XLS+ : $13 million (starting price)
Cessna Citation Latitude: $15 million (starting price)
Cessna Citation Longitude: $27 million (starting price)
For the sole purpose of this article, we’ll be using the Cessna Citation Longitude as an example aircraft moving forward.
Before finalizing the purchase of your Cessna Citation Longitude, it’s crucial to have a qualified mechanic perform a thorough inspection. This inspection helps identify any potential maintenance issues that may need to be addressed and avoids surprises down the road.
The cost of a pre-purchase inspection will vary depending on the complexity of the aircraft and the inspector’s experience, but typically falls in the range of a few thousand dollars.
Recurring expenses encompass the ongoing costs of maintaining and operating your Citation Longitude. These include:
Protecting your Citation Longitude from the elements is essential. Hangar fees depend on location and the size of the hangar needed to accommodate your specific Citation model.
Expect to pay several thousand dollars per month, with larger hangars and prime locations costing even more.
The cost of a flight crew for a Cessna Citation can be a recurring cost, but it depends on how you operate your aircraft. Here’s a breakdown of the scenarios:
Owner-flown: If you are a qualified pilot with the necessary certifications to operate the specific Cessna Citation model you own, then the pilot cost would not be a recurring expense. You would be piloting the aircraft yourself.
Hired crew: If you lack the necessary qualifications or prefer not to pilot the aircraft yourself, then hiring a flight crew becomes a recurring cost. This includes hiring a pilot (or pilots for larger Citations) and potentially a co-pilot or other crew members depending on regulations and your specific needs. The cost of hiring a crew will vary depending on factors like:
The experience level of the pilots you hire
The number of crew members required
The number of flight hours you fly annually
Having part-time pilots or hiring a jet management company are suitable alternatives to hiring a full-time crew.
Routine maintenance is crucial for the safety and performance of your Cessna Citation. This includes:
Annual inspections: These mandatory checks ensure your aircraft meets airworthiness standards. Costs can range from $600 to $1,200 depending on the Citation model and complexity. All types of aircraft undergo annual inspections for safety purposes.
Engine overhauls: Jet engines require scheduled overhauls and oil changes at designated intervals. These can be very expensive procedures, so budgeting accordingly is essential.
Unscheduled repairs: Even with proper maintenance, parts may wear out or require unexpected repairs. Be prepared for these eventualities.
Aviation fuel prices fluctuate, but Jet A fuel, commonly used by Cessna Citations, is generally more expensive than gasoline used in piston-powered aircraft.
For example, the average fuel burn per hour for a mid-sized business jet like the Citation Longitude falls within 730kg to 820kg per hour during crusing speed and 1,110kg per hour during takeoff and the first hour of flight.
Every time you land or take off at an airport, you’ll incur landing fees. These fees vary depending on the airport’s size, location, and the size of your aircraft. Larger urban airports and those in high-traffic areas tend to have higher landing fees while smaller airports, like rural airports, have lower fees.
Keeping your Cessna Citation insured is mandatory. Aviation insurance premiums depend on several factors including:
Pilot experience: Pilots with more flight hours and advanced certifications typically qualify for lower premiums.
Aircraft type: Cessna Citation models with higher risk profiles due to factors like performance or complexity may have higher insurance costs.
Annual flight hours: The more you fly your Citation, the higher the insurance cost might be.
Budgeting tens of thousands of dollars annually for Cessna Citation insurance is a good starting point. Request a free quote from Commercial Aviation Insurance to find the best coverage at a competitive rate.
The true cost of owning and purchasing a new aircraft can compound after the initial purchase.
While the freedom of flight is priceless, proper insurance is essential for protecting your Cessna Citation and ensuring peace of mind. Commercial Aviation Insurance specializes in crafting personalized coverage solutions for aircraft owners. Request a free quote today and see how our competitive rates and tailored plans can keep your investment safe.
Contact us now and let’s get you soaring with confidence!
