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The Economics of Flying Private: How NetJets Became the Uber of Private Jets

What Does It Really Cost to Fly Private—And Why More People Are Doing It Than Ever Before

Author

Ark
June 22, 2025

Flying private used to be a symbol of elite extravagance, something reserved only for the rich and powerful. But, in recent years, the private aviation industry has exploded, attracting more customers than ever before—and reshaping what luxury travel means in the 21st century. So, what does it actually cost to fly private? And why is it becoming such a popular choice?

The Rise of Private Aviation

Private aviation is now a multibillion-dollar industry. Companies like NetJets, a subsidiary of Warren Buffett’s Berkshire Hathaway, are leading the way—offering innovative alternatives to outright jet ownership. Instead of buying a whole aircraft, clients buy a fraction of one.

That’s right—NetJets doesn’t sell jets; it sells shares of jets. It pioneered the fractional ownership model, allowing customers to buy as little as 1/16th of an aircraft, similar to a timeshare. This breakthrough unlocked a massive new market of individuals and businesses who could afford private flying without the hassle of full ownership.

Today, NetJets operates close to 1,000 aircraft, which would rank it among the largest airlines in the world if it were a commercial carrier.

What It Costs to Fly Private with NetJets

Even with fractional ownership, flying private is no small expense. Here’s how the numbers break down:

  • Initial Investment: For even the smallest aircraft in NetJets’ program, the upfront capital starts at $850,000 for a share in a light jet like the Phenom 300.

  • Annual Operating Costs: Around $325,000 per year for 50 flight hours.

  • Hourly Variable Costs: These are billed per flight and include fuel, ground handling, and other operating expenses.

Alternatively, NetJets offers jet cards starting at $215,000 for 25 hours of flight time per year—about the cost of four down payments on the average American home.

Who’s Flying Private—and Why?

NetJets’ typical customer flies 75–100 hours annually and is often a principal of a privately held company. In fact, about 40% of the Fortune 500 companies are NetJets clients.

During the pandemic, private aviation became even more appealing as people looked for ways to avoid crowded airports and commercial cabins. In 2021, U.S. business aviation traffic hit an all-time high, even surpassing pre-pandemic levels. Global private jet numbers soared, with more than 3.3 million flights, a 7% increase over 2019.

And while some wondered if new customers would return to commercial airlines after the pandemic, NetJets reports that it is operating 40–45% larger than in 2019, with record-high customer retention.

Why Private Jets Are So Alluring

While commercial airlines are trying to claw back premium travelers with upgraded business-class cabins, luxury lounges, and faster boarding, these perks can’t compete with what private aviation offers:

  • Privacy and Anonymity: Unlike owning your own jet, NetJets flights are almost untraceable—making them ideal for celebrities, executives, or anyone concerned about privacy and safety.

  • Control and Convenience: Skip TSA, avoid delays, and fly directly from point A to point B on your own schedule.

  • Luxury on Demand: Everything from gourmet meals to personalized ground services is tailored to your preferences.

But What About the Climate Impact?

One of the biggest criticisms of private aviation is its outsized carbon footprint. A single private jet flight can emit many times more CO₂ per passenger than a commercial flight.

Celebrities like Taylor Swift have been called out for frequent short-haul private flights, sparking backlash over the environmental impact. As scrutiny grows, the industry is under increasing pressure to become more sustainable.

NetJets says it’s taking the challenge seriously:

  • It’s the largest buyer of sustainable aviation fuel (SAF) in the industry.

  • It offers carbon offset programs for customers.

  • It offsets all internal company flying, including training and maintenance flights.

The Bottom Line

Private flying is no longer just about luxury—it’s about freedom, efficiency, and control. While the costs remain high—hundreds of thousands annually—it appeals to a growing number of individuals and corporations who prioritize privacy, time savings, and a hassle-free experience over price.

As commercial air travel becomes more expensive and less reliable, private aviation is well-positioned to remain a preferred option for high-net-worth individuals. With sustainability now in the spotlight, the next challenge is clear: how to deliver ultra-premium service without an ultra-premium impact on the planet.

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