Private Jet Membership Club Cost Source Bing.com
Private jet travel used to be a luxury reserved only for the rich and famous. However, with the advent of private jet membership clubs, it is becoming more accessible to the average person. These clubs offer a range of benefits, including flexibility, convenience, and privacy. But what are the costs associated with joining a private jet membership club?
Membership Fees
Membership Fees Source Bing.com
The first cost to consider when joining a private jet membership club is the membership fee. This fee can vary widely, depending on the club and the level of membership you choose. Some clubs require an initiation fee, which can be as high as $100,000 or more. Others may charge a lower initiation fee, but require a higher annual membership fee.
For example, the NetJets Marquis Card requires an initiation fee of $7,500 and an annual membership fee of $4,950. This membership level allows you to purchase up to 25 hours of flight time per year. On the other hand, the Wheels Up Core Membership requires an initiation fee of $17,500 and an annual membership fee of $8,500. This membership level allows you to purchase up to 35 hours of flight time per year.
Hourly Rates
Hourly Rates Source Bing.com
In addition to the membership fee, you will also need to pay for the actual flight time. Private jet membership clubs typically charge an hourly rate for flight time, which can range from $4,000 to $10,000 or more. The hourly rate can depend on several factors, including the type of aircraft, the distance traveled, and the time of year.
For example, the NetJets Marquis Card charges an hourly rate of $8,500 for a light jet, $13,500 for a midsize jet, and $18,500 for a large jet. The Wheels Up Core Membership charges an hourly rate of $4,495 for a King Air 350i turboprop, $7,495 for a Citation Excel/XLS midsize jet, and $12,950 for a Gulfstream G450 large cabin jet.
Peak Day Surcharges
Peak Day Surcharges Source Bing.com
Another cost to consider when joining a private jet membership club is the peak day surcharge. Some clubs charge a surcharge for flights on peak travel days, such as holidays or weekends. This surcharge can be as much as 40% or more of the regular hourly rate.
For example, the NetJets Marquis Card charges a peak day surcharge of 25% for flights on peak travel days. The Wheels Up Core Membership does not charge a peak day surcharge.
Taxes and Fees
Taxes And Fees Source Bing.com
Finally, it is important to consider taxes and fees when calculating the cost of private jet membership club. These costs can include federal excise taxes, international fees, and landing fees. The amount of taxes and fees can vary depending on the type of aircraft and the destination.
For example, the NetJets Marquis Card charges a 7.5% federal excise tax on all flights within the United States. They also charge a 5% international fee on flights outside of the United States. The Wheels Up Core Membership includes all taxes and fees in their hourly rate.
Conclusion
Joining a private jet membership club can offer many benefits, but it is important to consider the costs associated with membership. Membership fees, hourly rates, peak day surcharges, and taxes and fees can all add up quickly. However, for those who value flexibility, convenience, and privacy, the cost may be worth it.
