Without a doubt, owning a corporate jet is an expensive asset. However, major corporations have already found out that it’s incredibly beneficial as it would provide them with the organizational flexibility, expanded communication, and freedom necessary to properly conduct their day-to-day affairs. However, the purchase of the plane is an extremely substantial expense. For instance, note that you would have to account for a myriad of maintenance expenses, fuel consumption, and something that’s absolutely permanent – hangar space. Your large private corporate jet has to be stored safely within a hangar for a wide array of good reasons, but mostly to keep it safe and intact.
The best bet for you would be to have your own corporate hangars. While the construction of a site of the kind would result in high fixed costs, it’s definitely the wiser solution in regards to efficiency and lower variable costs.
There is an array of variables that must be accounted for when searching for a hangar for your corporate jet. However, The first thing that you would need to consider is the condition of the hangar. Some of them are going to come with professionally and commercially polished floors and weather protection panels.
Furthermore, you would also have to account for the location of the hangar itself. For instance, those that are located in the outskirts of cities are likely to be less expensive while those who are near the airport are more convenient, yet more expensive. With this in mind, the average cost of hangaring for a larger corporate jet could range from $4,500 and $7,000 per month. Even though the price may seem exorbitant, it’s a requisite if you own a corporate jet.
In any case, the hangars that are used for sheltering corporate jets are also commonly used for cars and other vehicles as well, as long as the space allows it. Thus, this is a significant investment line in regards to slowing down the depreciation of your transportation assets via preservation.
However, if you have the opportunity to build a hangar on your own (provided you have the land), this is definitely the cheaper option when it comes to monthly costs. Despite the ownership taxes, it is far cheaper bearable than having to pay $6000 on average every month.
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