Life and Leisure

Few modern technologies have advanced as rapidly as airplanes. Less than 20 years after they first took flight for the U.S. military, jet aircraft went on the market for private purchase. Frank Sinatra became one of the first celebrities to buy his own personal jet, purchasing one in 1965.^{Disclosure 1}

Private aviation has come a long way since Sinatra’s crooning days. New options give travelers a private experience without ownership. You can gain access to elite aviation services that fit your travel needs and your financial circumstances.

This may be why private jet flight activity continues to increase in popularity: Global private-jet activity reached nearly 3.9 million departures in 2025, up about 5% from 2024 and roughly 35% above pre-pandemic 2019 levels, reflecting sustained demand among high-net-worth travelers.^{Disclosure 2}

If you’re intrigued by the idea of flying private, there are a variety of choices to consider. Determining whether to own a private jet or utilize an on-demand service should be a strategic decision, based on what suits your lifestyle, travel schedule, and long-term financial goals.

• Customization
• Guaranteed availability
• Privacy

If you only plan to use your aircraft for regional trips of a few hundred miles, a smaller, propeller-driven plane might be the option that fits your needs. New prop planes can range from around $400,000 to more than $1 million, depending on engine size and sophistication.^{Disclosure 6}

Operating costs will generally be lower, as well. Prop planes use less fuel than jets, and their simpler engine designs typically result in lower maintenance and inspection costs. You’ll still need to factor in the cost of where to keep and use your plane—whether at your own hangar and runway or in leased space at a local airfield.

For licensed pilots, the biggest draw of owning a prop plane is having the freedom to fly it yourself. There’s no coordinating with a professional flight crew when you’re ready to plan a trip—and you’ll save on crew salaries. Plus, you’ll have more options for your destinations: Prop planes require much shorter runways than jets, meaning you can head for an airstrip in a small city or remote location.

But, because prop planes have a slower top speed than jets and fly at lower altitudes, adverse weather and time of year will impact when you can fly safely.

• Freedom to fly yourself
• Lower upfront and ongoing costs than jet ownership
• Broad airport access

• Limited flight range
• Slower speeds
• Weather vulnerability

Chartering a private jet allows you to travel in luxury without ownership responsibilities and without a large financial commitment. Costs vary from approximately $4,000 to $12,000 per hour, and jets are available on demand.^{Disclosure 3}

Chartering a plane can be an attractive option if you fly less than 100 hours per year, your travel schedule varies from year to year, and you don’t need extreme privacy when traveling.

Chartering also allows you to choose different aircraft for different needs: You could take a light jet for regional travel to a business meeting or opt for a mid-size jet to transport your family cross-country on vacation.

You do need to plan ahead with private aviation by charter, and prices can surge based on demand and destination.

• Cost efficiency
• Flexibility
• No operational responsibility

• Scheduling limitations
• No customization
• Variable pricing based on demand 

While chartering a jet is like a pay-as-you-go option, another possibility for private flying without ownership is a jet card.

A jet card, offered by large and small fleet operators and charter brokers, is like a prepaid account for chartering private flights. For example, you may pay $200,000 upfront for a 25-hour jet card, but you know that your card comes with a fixed rate of $8,000 per hour for a light jet.

Besides locking in a fixed hourly rate for a given aircraft, jet card companies prioritize access once you’ve prepaid. That means you’d be able to book a private jet on Thanksgiving weekend, for example, when regular chartering companies may limit availability.

• Fixed cost
• Availability
• Flexibility
• No operational responsibility

• Large upfront cost
• No customization of aircraft
• Unused hours can expire: Many programs require flight hours to be used within a set timeframe.

If you’re a frequent traveler, but you don’t want the full responsibility (or financial burden) of owning your own jet, fractional ownership or a fractional lease may be a good fit.

Fractional ownership is what it sounds like—you pay a buy-in fee to own a fraction, usually one-sixteenth, one-eighth, one-fourth, or one-half of an aircraft. The planes are managed by a jet management company, and owners share the use and costs of the aircraft.

Fractional leases are similar: You lease a share of an aircraft for two to five years with monthly payments. During that time, you’ll also have additional costs proportional to how often you fly.

Fractional ownership is increasing in popularity—it grew 67% from 2024 to 2025.^{Disclosure 7} Depending on the share purchased, each owner is allotted a certain number of flying hours, usually up to 800 hours per year. So, if you own one-sixteenth of the aircraft, you get 50 hours, or if you own half, you get 400 hours.

• Predictability in aircraft choice
• Availability
• Operational costs are split

• Monthly maintenance fees
• Operational responsibility and compliance
• Jet depreciation for ownership
• 24-month or longer commitment for leasing

Deciding whether to buy a jet, opt for fractional ownership or leasing, or charter access should be a strategic and not a status decision.

If you travel often, the time savings, accessibility, and comfort of private aviation all carry legitimate monetary value. And if you’re a pilot yourself, being behind the controls is personally satisfying.

In addition, business owners may see the strategic appeal of private aviation for transporting clients or leadership. In fact, 55% of large businesses use private aviation through full ownership, fractional ownership, or charter arrangements.^{Disclosure 8}

Ultimately, the best private aviation strategy is the one that aligns with how you travel and how you define value across your broader financial life. That’s something your Truist Wealth advisor can help you evaluate.