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They’re also allowed to skip a lot of the security lines and check-in procedures that come with flying commercial, making them an efficient way to get from point A to point B. Plus, the cabins are spacious enough to seat more people comfortably than most commercial flights.

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The smallest private jets are called Very Light Jets (VLJs) and have seating capacities of four to seven. These are the most cost-effective options for short-range trips, and they can often be chartered at a fraction of the price of other private jets.

If you’re looking for a more affordable option, flight-sharing services like XO allow individuals to book seats on available flights on a shared basis, saving on upfront costs. Several new digital platforms are also transforming the industry by sharing economy-style models for private flight bookings, giving passengers real-time information and personalized experiences.

Buying your own private jet comes with its own upfront and ongoing costs. Maintenance can be costly, and fuel is always an issue, especially as prices fluctuate globally. To help offset the expenses, lenders offer loan financing that lets you buy a jet today and pay it off over time.

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