How Much Does it Cost to Have Your Own Plane?

Airplanes have shortened the distance from days to hours now. Life has become easier than before. And owning an airplane isn't all that difficult anymore. In Pakistan, a lot of people own private aircrafts. 

There are three categories of airplanes:

1- Preston engine aircraft

2- Turboprop Aircraft

3- Jet Aircraft or Business Jet 

Now the point is how to select an airplane. First of all, you should see how much distance you need to travel and how many passengers you accompany with. 

If you go for Preston engine aircraft, it will cost you 1 lac to 15 lac dollars.

If you have to travel long within Pakistan or any neighboring country then go for TurboProp Aircraft. It is a good choice. It will cost you 8 lacs to 55 lac dollars. TurboProp Aircraft has many categories.

As far as Jet Aircrafts or Business Jets are concerned, they cost almost 1.5 million to 60 million dollars. Once the aircraft has been selected, the purchase process begins. It is possible to buy aircrafts using a variety of methods. Down payments of 5% or 10% are generally required when buying an aircraft. ESPRO's bank account should be used for the remaining amount. Various security companies can take care of the payment. Once the airplane transfers to your name, the money is held in these companies until you receive the original documents. The best way to purchase an aircraft is to get it on lease. On lease import you can get the NOC in just 15-20 days. After airplane import on lease, it can easily be registered to your name in Pakistan. To acquire the ownership rights over the airplane, you need to file an application to the Civil Aviation Authority. . 

Suppose, you purchase an airplane of one lac dollar, you should add 50% other expenses of import, registration, custom duties and operate etc. in it.

Now it comes to the maintenance of the airplane. There are many aircraft maintenance organizations (MROs). They can be contacted and a maintenance agreement can be made and signed. It would be an easy and cheap way for airplane maintenance. 

Now the pilots would be needed to fly the airplane. You should find the pilot on your own according to the requirements of your travel and airplane. The salaries of pilots may vary from 1 lac to 10 lacs. It depends upon the airplane category and the experience of the pilot. Sometimes, It may vary from 10 to 12 lacs. 

For the maintenance of Preston Aircraft, 3 to 5 lacs will be required every month. For turbo craft airplanes, maintenance will cost 15 to 25 lacs per month. Business category airplanes need more expenses and its maintenance and operational cost will also be increased. The expenses for a business jet may vary from 25k dollars to 45k dollars per year for one pilot. You can get your desired jets by following the above details and enjoy flying.