airplane cost

Airplane Cost - Do you have a private pilot's license? Do you like the freedom that comes with crossing the skies?

If so, you should consider taking a small plane. Today, owning a small plane is a fraction of the cost of just a few decades ago. For the same price as having one of the other vehicles in the garage, you can have a small plane sitting in an aircraft hangar that belongs directly to you.

Airplane Cost

In this article, we will answer the question of how much it will cost to buy and maintain a small plane.

Here Are The Average Prices For Boeing's 5 Major Commercial Airplanes

The exact price of a small plane will vary depending on the condition, type and exact model of the plane you want to buy. However, there are average prices that you can use as a guide for this purchase for each type of aircraft.

First on the list are ultralight aircraft. These do not require a license to fly and usually cost less than $15,000.

Another type of plane is a single-engine plane. This is the type of machine that most people think of when they think of a small plane. These cost a bit more than ultralights and usually start at $15,000. New models can go up to $100,000, but you can save a lot of money on the sticker price if you go with them.

Last but not least, the most powerful multi-engine aircraft will cost a minimum of $75,000. It is not uncommon to see small multi-engine aircraft costing $300,000 or even more.

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With airplanes, the purchase price isn't the only consideration to consider. Just like your road vehicles, you also need to think about maintenance costs. These costs include parking, insurance, gas, parts and labor in case of mechanical breakdown.

Aircraft hangars for aircraft charters will typically cost you a few hundred dollars per month to rent. Annual mechanical inspections cost over $500 for professional personnel to inspect the aircraft (these inspections are required by law in order to fly the aircraft). Painting an airplane is a cost-effective way to make it stand out in the sky or just in the hangar. If you buy a new plane, painting can be an additional expense. The cost of painting a plane will depend on its size and type, with larger planes costing upwards of $200,000. Also, insurance will cost $1,000 a year, at least for a cheap plane.

Last but not least, don't forget the gas. The gasoline that powers airplane engines is much more expensive than the gasoline that goes into car engines. It will run you about $5 a gallon. You will use at least 5 gallons per hour, which will result in a flight cost of $25 per hour (again, this is the minimum).

So if you fly 50 hours a year, you're likely to have $5,000 a year in maintenance costs. If you've been researching how title loans work, you may have found that the average title loan hovers around these costs. A small loan can help you finance your maintenance costs each year.

How Much It Really Costs To Hire A Private Jet For Your Stag Or Hen Do

Now that you know the answer to the question of how much does a small plane cost, you can answer the follow-up question of whether or not the pleasure of flying this plane is worth it.

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Boeing (BA -0.21%) is well known for its popular 737, as well as its 747, first introduced in 1970, and its 787 Dreamliner. But there is also a new 400-seat plane, the 777X, which is still on the table and is expected to become the best-selling plane on the market after its first delivery in 2020.

How Much Does A Bush Plane Cost?

Investors cheer when Boeing outbids rival Airbus for lucrative contracts because it generates more revenue and more profit. At last month's Paris Air Show, Boeing crushed Airbus by announcing commitments for 437 new planes compared to just 182 for its rival.

The big seller was the 737 MAX family, which received 418 commitments from buyers, mostly for the new 737 MAX 10, although Boeing also received 125 commitments for the 737 MAX 8. The rest of the commitments were for the 787 Dreamliner.

In its latest "Current Market Outlook," which forecasts industry demand through 2036, Boeing eliminated a separate call for very large jets that previously included the 747, opting instead to combine them into a "wide-body medium/large" combined.

Boeing says the planes aren't for sale (Airbus says the same for its A380) because few airlines have the capacity and routes to carry planes with more than 400 seats. The 747 is a 400-seat plane, but it can be configured to cram up to 660 passengers into one plane. In fact, Boeing only has a backlog of 23 747s, the lowest of any of its planes, and only produces one plane every two months. It's obvious that he doesn't put a lot of resources into it.

End Of The Line: Bizjets To Beer Cans

Airbus scoffed at Boeing's decision to exit the market. "They would," Airbus sales chief John Leahy said, according to IndustryWeek. "The 747-8 is not for sale. We have no intention of sharing that market with them." Airbus noted that it remains committed to producing very large aircraft due to increased passenger traffic and route congestion.

That may still be a foolish position, since Airbus didn't sell a single A380 last year, and Boeing doubts it can sell the remaining 107 planes Airbus has in its backlog. In fact, Airbus is trying to keep production of the 550-seat model at one a month, and its biggest order in Paris was for 100 single-aisle A320neo (short for "new engine option") planes.

That's where Boeing sees most of the market moving. In its long-term forecast, it sees single-aisle aircraft accounting for 72% of all aircraft deliveries by 2036, worth $6.1 trillion.

Boeing plans to get more of its share of that market. It produces 42,737 per month and has a backlog of 4,500, making it the most in-demand aircraft in Boeing's fleet. While these are the cheapest planes Boeing makes, they make up for what they give up in terms of volume. Not surprisingly, the 747 is one of its most expensive planes (though not the most expensive), but with so few sales, it doesn't matter how much it costs.

The Plane Is Too Heavy'

Below are the production rates for each family of aircraft that Boeing produces, its backlog, and the average price of each family of aircraft.

As noted, the 737 is the cheapest of its planes, with the 737-700 costing just $82.4 million. The most expensive? The 777-9, which sells for $408.8 million.

The needs of the aviation industry are not static but dynamic, as evidenced by Boeing's outlook, which predicts that 4,200 fewer aircraft are needed than last year's report suggested. In addition, the number of unidirectional nozzles required is less.

One thing that doesn't change? Boeing's leadership role in delivering the latest and most technologically advanced aircraft on the market.

See Inside The $75 Million Bombardier Global 7500 Private Jet

Rich Duprey has no position in any of the stocks listed. Motley has no position in any of the stocks mentioned. Motley has a disclosure policy.

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