The Real Cost Of Owning A Gulfstream G800
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- čas přidán 1. 06. 2024
- The Real Cost Of Owning A Gulfstream G800 Private Jet
0:00 - Intro
This is the Gulfstream G800, one of the world's longest-range business aircraft that redefines luxury and performance. Powered by state-of-the-art Rolls-Royce Pearl 700 engines, the G800 can accommodate up to 19 passengers. Today, we’re going to tell you everything you need to know about the real cost of owning the HondaJet Elite II.
0:38 - Purchase and Charter Price
The base Gulfstream G800 price is $72 million before options, and the Honda Jet charter price or Honda Jet charter price is estimated at $13,000 to $20,000 per hour. Naturally, prices will vary depending on availability, fuel prices, ground fees, and more. There are two expense categories to consider: fixed costs and variable costs.
0:58 - 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.
1:16 - 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.
1:42 - 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.
2:00 - 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.
2:20 - 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.
3:30 - 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.
4:07 - 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.
4:28 - Total Fixed Cost
4:38 - 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.
4:58 - 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.
5:28 - 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.
6:15 - 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.
6:40 - 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.
7:45 - 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.
8:06 - Total Variable Cost
8:15 - Outro
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This video answers most of the questions I had, apart from one. Which is, why am I even watching this?🤣
😂
You never know
LOL, GREAT point!
Bwaaaaaahahaa!
😂
It’s consumer reports like this that are vital to me. I would’ve, like a fool, purchased one of these without hardly any consideration for the hull insurance
And those baggage handling fees will kill you! Better carry your own bags.
My husband has worked at Gulfstream for 47 years and is still there. His main job now is making sure that all new jets are in the FAA standards to fly before he signs off on them. He plans on staying on until he hits 50 yrs even though he is at the age of retirement
Pretty interesting, I was searching for those infos. Thanks!
Extremely informative, thank you!
I have been in aviation in different aspects for about 20 years and I always have to explain to everyone why buying a jet and/or yacht is a horrible idea if you have or win money. Very rarely do I see a video explaining these costs appropriately. I was really expecting this video to suck balls.
Thank you Jet Base!
Thank you very much!
Very doable if you're an 8 figure earner.
not even 8.. more of 9 to 10 figure people (the 1% of the world) @@xavion2678
This was excellent. The only thing additional I would like to see are names of Airplane management companies and their services. Great work!
There was no mention of food, liquor/wine/sodas … or hookers. Sorry, I meant ‘personal assistants’ … that bill hourly. Things can definitely get pricy owning a private jet. Thanks for the video.
😂
'hookers', don't you mean escorts, and really top end ones at that? Their real job title should be professional companion, and who are also very good at sexual...things. 😉
I've never ridden on a Gulfstream. I've been in a couple of them...a G1 and a G2. I've been in a Canadair Challenger, Lear 60, Lear 35, King Airs of various sizes, Jetstar, Beech Starship, Hawker 700, Falcon 900 and a corporate lined Boeing 727, as well. I've flown in a Turbo Commander, a Lear 24, a Cessna Citation II, and a Falcon 50. The Falcon was a nice ride. I'll never forget it. I miss aviation sometimes but I don't miss the way I was treated by many of the rich. Many nice people but some real bastards, too.
Hi great video and presentation. Thank you.
Thank you!
Really terrific video. Thanks. Small fix needed on the word training.
Thank you!
Very informative 😮!!
Great video!!
Thank you, Marcus!
I'll surely buy this & the next model,as I would need them or even more, for efficiency, good video ✍️
Informative
A man could dream. But remain a dream.
Wow, that thing is beautiful!
Finally some research that i need done (fgt those blasted assignments)
Gorgeous!!!!👍👍👍
Didn’t know a G800 was in the works. I thought they still had a waiting list for the G700
nice yt automation glad that it is working for you
Thanks man!
Just ordered mine~George Santos
I’m going down and ordering one today 😉
Thank you very your valuable info! Now i can buy one with full knowledge and awareness 😂
Thank goodness charter memberships are an option
What a gorgeous jet! I'd cut off my thumbs for a ride on a G800! Thanks for all of the information.
Yay new video!!! (I’m back) lol
NICE!!!
If I owned this plane I'd have to replace all those wine glasses with red Solo Cups 😂
😂
Here I am on a 40k salary watching a video about owning a gulfstreem and don’t know how I got here 🤷♂️ maybe it’s a sign that I should start playing the lottery 😅
😂
Beautiful plane.
It is screaming at me to buy it!
I will buy it soon ❤
Me too
Seriously, not joking
@@cameronmem8486 I already bought two just because I wanted different colors.
Cheap stuff. I'm going to order 2 of them.
But you never added everything up..... My calculator caught on fire trying to keep up with you.
At 4:28 you have the total fixed costs, and at 8:06 you have the total variable costs
I'll own one soon
This is the unfortunate reason why I have not purchased one
I understand now why I can’t afford one of these😊
With all these fees and cost one might as well fly Allegiant or Frontier and deal with the fights at boarding or on the plane
“Yeah, well whose gonna fly it kid, you?!?”
“You bet I could! I’m not such a bad pilot…”
A convincing argument for fractional ownership programs.
In other words, you must own a good oil well to make it work
Or a bank or pharmaceutical company
No one oil well is that good. Better have many many.
Which is why only getting the G500--to save money.
How much is the fee to add up the ither fees?
Thank you so much. Do I get a discount if I order 2 of them?
😂
I bet those Bentleys and Ferraris look cheap now, don't they? 😂😂
$2,000 engine overhaul? Riiiiiight.
Every variable cost is intended per hour, so $2000 per hour
@@AviationBase That would be over $7 million for the engines cost at overhaul. That is a bit aggressive but, it also aint cheap!
Is there any deduction for Cash ??
saya belum sempat beli yg G650 dan penerusnya, malah muncul lagi yg G800 ini 😰
Very Informative, this video has everything I was looking for except one thing, how to earn the 72 million dollars to purchase this G800 ! I would say, 99% satisfied.
😂.. Very well said..
😂
charter for 19 passangers, each pay $1000 thats $19000 a flight which is good returns so owning a private jet isnt too expensive if its chartered out. charter it out for a long flight since it could fly 8000 nautical miles then they would be demand
Per hour mate
It's good to be the King...
Lots of great info in this video. Only info missing, is how can i afford one without doing anything?😁
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Oh to be rich enough to say “ just send the bill to my accountant “.
Nice but i am catching the train , thanks .👍🇦🇺
If you are rich, owning one jet like this makes little or no sense. If you wanna get into the private jet game, you need to buy 2. One for personal use and one for charter. Take the income earned from the charter to offset the running cost of the next one.
So what would be landing fee at LGA? Or at least TEB?
I’ve never landed at those airports but typically major metro airports have MUCH higher fees than executive airports.
The only major airports I commonly fly into is IAH when visiting my son, who’s a professor at Rice. I try to fly into HOU but they seem to constantly have some level of delays or issues causing us to divert. At IAH, port (landing & tie down) fees are commonly $450 for our MU2. That’s 4-5 times higher than we commonly pay at executive airports.
An aircraft with ramp weight of Class C MTOW G800 , the MU2 is under 12500 MTOW class F, would be 4-5 times more. I would likely budget $2500 for those 2 airports but there are programs available from most airports that can provide substantial discounts, if it’s an airport you fly in/out consistently and/or own a hanger.
@@MichaelM-to4sg walla thank you for the detailed response. I always wondered, how TEB and MMU compete + you the 3 major airports nearby EWR LGA JFK that all have and FBOs as well.
@@pizza4fresers My only experience flying to that region is the Middletown airport (OOO) and HTO, though I’ve heard FBO applied for new FAA designation which may have changed the East Hampton Airport identification. It’s been a few years since we were in area but I do not recall outlandish fees at either FBO. I commonly do not recall “normal” fees, only the real outliers, which I try to avoid upon return visits.
And I’m stuck flying Southwest.
Your cost estimates are way off....much to low. Insurance, crew and maintenance are far higher, aprox. double, insurance is aprox. 0.6- 0.8 of hull value so around 400.000 , fix cost are more likely around 2 mio +.
Maintenance at 200 ?? Engine service 2000??? A car can cost more...you mean 20.000 and 10.000 per engine
I'll take 2
I'll prefer Global 8000 over it. Global 8000 is bigger in size, faster than any commercial and private jet (1.0 Mach), a good range of 8000 nmi, safest and the wide cabin. ❤
We know. That's what this video was about. Of course you would "prefer."
Most importantly Bombardier didn’t cheap out with RR engines. Global 8000 gets actual State of Art GE engines, while Gulfstream & Desault chose RR Pearls to support their margins, performance, servicing costs and reliability be damned🤦♂️
@@MichaelM-to4sg Gulfstream is neighbors with RR in Savannah
I dunno the RR engines are pretty bulletproof.
@@MichaelM-to4sg RR engines are better (obviously there are many models tho)
Todays luxuries are tomorrows commonplace goods. I think I could hitch a ride on this when I’m celebrating my 200th birthday.
In my next life time im getting this
😂
The rates on this video are astronomical compared to another video I saw.
Because they don't know what they're talking about
Maybe I missed it, but there was no estimate of the cost of the airplane itself. Even if you paid cash for it you would still have an hourly depreciation value, I would assume.
I guess I'll just have to hold off on buying one until they revise the video 😂
00:38
the real luxury is time, and now aircraft on the market not meet this criteria. So when a private jet will fly like the Concord that is luxury
Crew Traning😂😂😂😂😂 ya thats some good stuff.
😂
Basically it costs an eye watering amount, no matter how you look at it.
I estimate I would use it for only about 50 hours a year so it would unwise or foolish to buy one when I could just charter one or perhaps enter a fractional ownership arrangement.
Even if I had all the financial wherewithal to own one of these I wouldn’t buy it! Just like I wouldn’t buy a yacht ! Charter baby! No headaches, no management, no payroll, no fees no maintenance! With charter you have one price and that’s it. Walk up-fly-walk off- pay - you’re done! So much simpler - even if you fly a lot still makes sense to charter (even if the numbers at high usage start looking better) but the absence of the ownership headaches is much more worth than the money you may save by owning ! My opinion
Totally 💯 agree. I would only use one these bad boys for about 50 to 75 hours a year so it makes perfect sense to me.
Looking at the way US Govt operates as per it's whims & sanctions anyone who doesn't toe their line, non Americans should prefer non USA jets.
But thanks for this video.
Never give up on your dreams. Keep sleeping.
😂
The G700 is just as nice I think
Basically even a thought about this airplane has some sort of fee involved
How about a video on drake's airplane
This almost makes a new superyacht look cheap..
Electric self driving jet's will save lot's of $$
Good range... but too small. Why don't gulfstream come up with a jet bigger than g700
How is that small? What’s bigger?
That's what they specialize in - Smaller jets for a few wealthy or corporate bigwigs. After that, you go to Boeing and Airbus, but the operating costs are astronomically higher.
I need to get a second job to make this dream come true
Back to G400, then.
This is a great video. But I’m sure if you can’t get a Ferrari serviced for $1000 then there’s no way you’re getting a rolls Royce jet engine serviced for $1000
Engine overhauls are considered as variable costs, so $1,000 are intended per hour
After I win the Powerball or Megamillions, I have no need to outright buy such a machine. Would buy hours per 1 year just for the experience. And I would conduct business and write off the hours used.
JetBlue will allow you to rent, or even share the cost with other people as a kind of timeshare.
Insurance costs are way off. 2% is the going rate ….. 1.6 million per year
No chance lol no one pays that.
estimate seemed low
Nice video, thank's. I would fly the Gulfstream, without overhead touch screens, of course. Who came up with this nonsense? In turbulence... oops. Gulfstream does it, because their customers demand to get the latest and greatest. Big mistake. It clearly shows how unprofessional private jet flyers and owners are... Owners have no clue about airplanes. They hire the cheapest and least experienced pilots... I wonder how they were able to make so much money. I used to fly Falcon 900 jets and I know how lousy the training of corporate pilots is... compared with the average airline pilots. Regards from the 747-8 left seat. No hard feelings, guys. But it's time to tell the owners the truth about their pilots. A small percentage is very well qualified, no doubt. But the majority is not. My five cents. RS
Thanks for the info.
How much you need to be worth to own one of this comfortably?
Vast majority of owners are corporate leasing groups like NetJets. Some companies of course own them, Bechtel for example had several Gulfstream’s and Desault’s to fly their geologists, engineers and executives to remote locations around the globe. A few individuals own them, Larry Ellison, Jeff Bezos and Bill Gates all own Gulfstream’s of some type and all are billionaires many times over. Mark Cuban, worth around $5B, owns a G550, or at least did as of 3 years ago. Tiger Woods also owns a G550, his net worth is $1B. Given these are $50M-$85M aircraft with operating costs exceeding $5k/hr, it requires a considerable wealth just to be able to operate them, much less purchase. Then there’s the issue of engines need to be operated minimum every 30 days or they will require technical inspection prior to operation. Unless you travel a lot and consistently, they are not practical. This is why NetJets is so popular among wealthy Jet setters. You get the access to executive travel w/o hassle of trained staff on payroll and the maintenance liabilities.
Id say 500m to 1B+
Agreed
If it flies, floats and bleeds once a month you simply rent
Cool I’ll make sure I don’t fly to ny in my g800 to save on landing fees 😂
😂
You said "engine overall is estimated at $1,300 to $2,000" ???? Not even close! Lmao.
Engine Overhaul is listed in the variable costs, so the estimate of $1,300 to $2,000 is intended per hour
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Watching the video with my 8-hour job, my salary of 2,500 euros per month and dreaming of a plane and a lifestyle that I'm not going to have in my fucking life... And still thinking: "A million dollars a year is not both compared to the price of the plane and the purchasing power you have to have to buy it".
What is your job in Europe?
if you need to know the real cost...you cant afford it
Did he say $1300 for engine overhaul??
Every variable cost is intended per hour
Bruce Wayne - does it come in black?
according real quick calculations right here on my kitchen table, i will get an used Kia now.
😂
I wonder how the U. S. Government Figures cost.
What about groceries?
Cost of my ONE DIAMOND RING❤❤❤😢😢😢😢😢😢
So in other words ill be flying coach i guess. Lol
😂
“State of the art RR Pearl engines”? 😂😂
Nobody in aerospace engineering industry considers RR turbofans state of art. The fact is Honeywell-Garrett has become too expensive for GA and commercial sector thus Gulfstream and Desault went shopping for new supplier. Unfortunately the brilliant performing and efficient GE was deemed too expensive to meet Gulfstream margins thus they went shopping in the bargain aisle and found RR Pearl’s. Desault too have adopted Pearl 10’s for the new 10X.
Any company considering one of these size/range aircraft should be looking at Global 8000 with its vastly superior GE engines.
G.750.g.850.g.550.g.280.
G.800.