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Pilatus PC-24 jet price
New, used and operating costs
The Pilatus PC-24 has made waves in the light business jet market with its impressive versatility and performance. However, with a price tag of around $12 million for a new aircraft, owning this innovative jet is a significant investment. This article takes an in-depth look at the costs associated with acquiring and operating a PC-24, including new list prices, the pre-owned market, operating expenses, and financing options. We also compare the PC-24's price and capabilities to its main competitors to help prospective buyers make an informed decision.
Figures
New Pilatus PC-24 list price
Standard configuration cost
The base price for a new Pilatus PC-24 in a standard configuration is approximately $12 million to $13 million.
This figure reflects the latest substantial enhancements introduced by Pilatus in October 2023, which include:
- Extended range to 2,040 nautical miles (3,778 km)
- 600-pound (272 kg) increase in maximum payload capacity
- Redesigned interior with new amenities like a convertible divan and state-of-the-art entertainment system
The price positions the PC-24 competitively against other light jets like the Embraer Phenom 300E and Cessna Citation CJ4.
Optional equipment and customization costs
While the base price of a new Pilatus PC-24 starts at around $12 million, optional equipment and customizations can quickly drive up the final cost. Popular upgrades include enhanced avionics, custom interiors, and additional safety features. These options offer improved comfort, capabilities, and resale value but come at a price.
To keep costs under control, buyers should prioritize the features that matter most to their specific mission profile and needs. Working closely with Pilatus to select a configuration that balances desired upgrades with budget constraints is key. Opting for pre-designed interior packages rather than fully bespoke designs can also help limit the added expense of customization.
Market competition
PC-24 price compared to competitors
PC-24 vs Embraer Phenom 300
The Pilatus PC-24 and Embraer Phenom 300 are both popular light jets, but they differ in acquisition and operating costs. The PC-24's base price is around $12-13 million, while the Phenom 300E typically costs about $11 million. In terms of direct operating costs per flight hour, the PC-24 averages $2,630 compared to around $1,500 for the Phenom 300. Annual fixed costs are lower for the PC-24 at approximately $310,000, while the Phenom 300's exceed that amount.
PC-24 vs Cessna Citation CJ4
The Pilatus PC-24 has a slightly higher acquisition cost than the Cessna Citation CJ4, with base prices around $12-13 million and $10-11 million respectively. This price difference is due in large part to the PC-24's more advanced features and capabilities. Despite the higher purchase price, the PC-24 offers unique value that may justify the premium for many operators. Its ability to use short and unpaved runways, spacious cabin, and latest avionics aim to deliver unmatched versatility. The CJ4 focuses more on offering good performance and efficiency within the traditional light jet segment. Ultimately, the choice between these two capable aircraft will depend on the specific mission requirements and preferences of the individual buyer. Those needing a "go anywhere" jet with ample space will likely lean towards the PC-24, while operators mainly flying between paved business airports may opt for the proven CJ4 to maximize value.
Leasing options
Financing a Pilatus PC-24
Leasing a Pilatus PC-24 can be an attractive alternative to purchasing for some operators. Lease payments are generally lower than loan payments, conserving cash flow. Leases also offer tax advantages, as payments can often be deducted as operating expenses. Orizair provides transparent pricing and constant support, making leasing an even more appealing option for those interested in operating a PC-24 without the long-term commitment of ownership.
Ultimately, the decision between leasing and buying depends on the operator's financial situation, accounting considerations, and expected length of use. Short-term users focused on preserving capital tend to favor leasing, while those seeking long-term ownership and asset control often prefer to purchase, either outright or through a loan.
Search a flightPre-Owned Pilatus PC-24 market
Average pre-owned PC-24 prices
$10.5 million average price
Depending on factors like age, total flight hours, maintenance history, and included upgrades, pre-owned Pilatus PC-24 jets typically range in price from $9 million for early models with higher hours to $10-11 million for more recent, lower-time aircraft.
Market deliveries
Most PC-24s on the market have logged an average of about 1,000 flight hours, with some aircraft as low as 140 hours and others up to 2,240 hours. Buyers can expect these jets to be 2-5 years old, as deliveries began in 2018.
High demand
Prices have remained strong due to high demand and limited pre-owned availability for this popular model. Pilatus plans to increase production to 50 aircraft per year, which may help stabilize prices over time as more enter the secondary market.
Factors impacting PC-24 resale value
Several key factors can significantly impact the resale value of a pre-owned Pilatus PC-24
Total flight hours
Lower-time aircraft typically command higher prices. A jet with under 500 hours will likely sell for a premium compared to one approaching 2,000 hours, all else being equal.
Maintenance history
Detailed records showing the aircraft has been diligently maintained and inspected on schedule by authorized service centers will bolster buyer confidence and value. Any damage history or missing logbook entries can drive down prices.
Upgrades and options
PC-24s configured with desirable upgrades like enhanced vision systems, in-flight connectivity, and cabin entertainment will attract more interest on the used market. However, highly customized interiors may limit the buyer pool to those who share the original owner's tastes.
Upcoming maintenance
Aircraft approaching major periodic inspections or requiring upcoming avionics updates will usually see lower resale values to account for the new owner's impending costs. Enrollment in an hourly maintenance program like Pilatus' CrystalCare can help mitigate this impact.
Market conditions
Prevailing supply and demand for used PC-24s will influence transaction prices at any given time. Buyers should research recent comparable sales and work with an experienced broker to gauge the current market climate before purchase.
Market
PC-24 depreciation trends
While the Pilatus PC-24 is still a relatively new entrant in the light jet market, early indicators suggest it is retaining its value well compared to key competitors. The PC-24's unique capabilities and versatility have made it a highly sought-after model. Pilatus' orderbook is full through 2021, reflecting enduring appeal. Regular product updates, like the 2021 enhancements to range and payload, demonstrate Pilatus' commitment to keeping the PC-24 competitive in the years ahead.
Limited pre-owned availability
With only around 100 PC-24s delivered so far, very few have entered the secondary market. This scarcity is helping to buy prices.
Niche positioning
As the only jet in its class capable of operating from short and unimproved runways, the PC-24 faces limited direct competition. This helps insulate it from pricing pressure.
Manufacturer support
Pilatus' strong brand reputation and global service network instill confidence in the long-term value proposition of PC-24 ownership.
Costs Factors
Pilatus PC-24 operating costs
Direct operating costs
Fuel is the largest direct operating cost for the Pilatus PC-24, averaging around $955 per hour. With a fuel burn of 191 gallons per hour and jet fuel prices around $5 per gallon, owners can expect to spend over $425,000 annually on fuel alone, assuming 450 flight hours per year.
Maintenance is the next major direct cost, including both scheduled and unscheduled events. Budget approximately $528 per hour for parts and labor, or nearly $240,000 per year. Pilatus' pay-by-the-hour CrystalCare program helps stabilize these costs.
Engine reserves add another $359 per flight hour to cover future overhaul or replacement expenses as the PC-24's Williams FJ44-4A turbofans reach their limits. Over a year, this amounts to over $160,000.
Miscellaneous direct costs like landing and parking fees, crew travel expenses, and catering average $150 per hour. For a 450-hour annual utilization, budget around $67,500.
In total, direct operating costs for the PC-24 average $1,992 per hour. Flying 450 hours per year, this equates to an annual expense of roughly $900,000, before considering fixed ownership costs like insurance, hangar, and pilot salaries. Careful planning and budgeting are essential to successful PC-24 operations.
Fixed ownership costs
Flying a Pilatus PC-24 involves several significant fixed costs in addition to direct operating expenses:
- Insurance: Expect to budget around $40,000 per year for hull and liability coverage on your $12 million asset. Premiums can vary based on pilot experience, aircraft equipment, and coverage limits.
- Hangar: Protecting your investment from the elements in a heated hangar is essential. Costs range from $20,000 to over $100,000 annually, depending on airport location and amenities. Shared hangars offer savings over private ones.
- Crew salaries: Employing a full-time captain and first officer is a major expense. Compensation packages for an experienced PC-24 crew, including salaries, training, benefits, and per diems, can exceed $400,000 per year combined. Some owners opt to hire contract pilots as needed to reduce this fixed cost.
These ownership expenses add up quickly, often totaling over $500,000 per year. Factor them into your operating budget to avoid surprises and ensure your PC-24 venture remains financially sustainable over the long haul. Careful planning and professional advice are key to controlling fixed costs.
Total annual budget
The total annual budget for operating a Pilatus PC-24 can vary significantly depending on usage scenarios, but typically falls around $1.7 million per year, assuming 450 flight hours. This figure includes both variable direct operating costs like fuel, maintenance, and engine reserves, as well as fixed costs such as crew salaries, hangar, and insurance.
Fuel remains the largest variable expense at around $425,000 annually, followed by maintenance at roughly $240,000 and engine reserves of $160,000. Crew compensation is the most significant fixed cost, potentially exceeding $400,000 per year for a full-time captain and first officer. Hangar and insurance can add another $100,000 or more to the tally.
While lower than some competing jets like the Embraer Phenom 300, which has an estimated annual budget closer to $1.8 million, the PC-24's operating costs still represent a substantial commitment. However, many find the PC-24's unique capabilities and versatility provide sufficient value to justify the expense. Careful route and mission planning can help optimize efficiency and control total ownership costs.
Versatility and performance
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The Pilatus PC-24 offers unmatched versatility and performance in the light business jet market, justifying its premium price point.
With its ability to access short and unimproved runways, spacious and flexible cabin, and advanced features, the PC-24 delivers exceptional value for buyers needing a go-anywhere jet adaptable to multiple missions. Though operating costs slightly exceed some competitors, the PC-24's unique capabilities can expand revenue potential and resale appeal, making it a smart long-term investment for the right operator. For efficient, comfortable travel to more destinations, it's hard to beat the PC-24.