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It obviously varies wildly, depending on the aircraft being used etc but roughly
Pilots and Crew will cost around $500,000 per year.
Insurance - this can set you back up to $400,000 per year.
Management Charges - this can cost between $125,000 and $250,000. They may be able to charter out the plane when not in use which will recoup some costs back.
Training and Maintenance - this will add another $400,000 annually.
Fuel Costs - Depends where you fly, but will cost at least $1,500 per hour. 400 hours would be $600,000.
Catering - Add $10,000 for food and beverages (again there are no limits)
Other Costs - Landing Fees, Airport taxes, Hangar rent, Weather Forecasting.
So operational costs would come to around $3 million per year and more for larger aircraft.
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