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Davido’s Private Jet: See How Much It Costs to Own and Maintain a Challenger 605

Davidos Private Jet See How Much It Costs to Own and Maintain a Challenger 605c

Davido’s Private Jet: See How Much It Costs to Own and Maintain a Challenger 605

Nigerian is still happy about the news of Davido buying a private jet.

The jet which cost roughly 10 billion Naira has seen many fans sceptical at the decision of the singer to buy such.

While some believe the singer needs such luxury due to the way he travels abroad, many think he doesn’t fully own it due to the huge amount it costs to maintain one.

Davidos Private Jet See How Much It Costs to Own and Maintain a Challenger 605

Below is quick research from Autojosh on the amount it costs to maintain a private jet.

1. To buy a brand new Bombardier Challenger 605 be ready to part with approximately $27m.

2. If you cannot afford a brand new one, you could settle for a tokunbo (used) one. A used vintage 605 goes for $15m.

3. The cost of flying a private jet depends on the number of hours it flies and the nautical miles it travels. For instance, if it travels 175,000 nautical miles and 423 hours per year, owners should anticipate variable expenses of $1,515,813 annually.

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4. The greatest chunk of the expenses on a 605 is spent on fueling it. About 65% of the cost of operating a 605 it is spent on fueling it.

5. The cost of fueling a 605 is estimated at $2,346 per hour out of a total variable cost of $3,583 per hour.

6. The 605 is estimated to use 329 gallons of fuel per hour.

7. So, in a singe year, the total cost of ownership of the Bombardier Challenger 605 is $3,481,595 including market depreciation of ($1,240,920) or $5,342,974 including book depreciation of $3,102,300. Both figures include fixed costs per year of $724,861.

8. Here is a summary of the cost involved in owning and maintaining a Challenger 605.

Crew Salaries – Captain
$138,000

Crew Salaries – Co-Pilot
$95,000

Crew Salaries – Flight Attendant
$75,000

Crew Salaries – Benefits
$92,400

Hangar – Typical
$59,900

Insurance – Hull
$31,023

Insurance – Single Limit Liability
$12,500

Recurrent Training
$66,800

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Aircraft Modernization
$33,333

Navigation Chart Service
$15,205

Refurbishing
$94,500

Computer Maintenance Program
$10,500

Weather Service
$700

Total Fixed Cost per Year
$724,861

Source: Autojosh

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