How much it costs to own and operate a Gulfstream III private jet

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Gulfstream III Operating Costs

Sample annual operating cost summary.
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Gulfstream III Exterior

Annual Budget

The total annual budget for flying a Gulfstream III private jet 200 hours per year is approximately $1,615,092 or $2,701,219 for flying 400 hours per year. The maximum speed of the Gulfstream III is 576 mph, but with slower climb, cruise and descending speeds it is more likely to average 461 mph which would equate to an average cost per mile of approximately $17.52 at 200 hours per year. If you fly 400 hours per year, you can spread the total fixed costs over more flight hours which reduces your cost per mile to $14.66.

These budgets do not include the cost to purchase the jet, depreciation or the cost of capital (interest payments.)

In the market to buy, sell or manage a jet you own? Please contact a Jet Advisors for a free consultation and estimate. Liberty Jet offers Jet Management, Private Jet Cards and Private Jet Charter services.

Cost to Purchase

How much does it cost to buy a Gulfstream III? Prices range between $425,000 and $1,595,000 with 20 currently advertised for sale.

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Gulfstream III Interior

How much can you save?

Get a FREE Consultation and Evaluation Own a Jet? Liberty Jet can save you thousands each year. Send us your contact details below and we will send you a free evaluation. See our Jet Management sample proposal to see how much you can save.

Sample Operating Budget

Costflying 200 hours/yearflying 400 hours/year
Direct Operating Costs (DOC)  
Fuel Cost @ $4.40/gal Updated to Nat'l Avg Each Week$484,000$968,000
Maintenance$316,522$633,043
Engine Overhaul$175,605$351,211
Misc Crew/Landing/Handling$80,000$160,000
Miscellaneous Variable$30,000$60,000
Total Direct Operating Costs (DOC)$1,086,127$2,172,254
Fixed Costs  
Crew$306,493$306,493
Crew Training$35,252$35,252
Hangar$73,506$73,506
Insurance$7,299$7,299
Jet Management$78,000$78,000
Miscellaneous Fixed$28,414$28,414
Total Fixed Costs$528,965$528,965
Total Annual Budget$1,615,092$2,701,219