Learjet 24 Buyer’s Guide
The Learjet 24 is a Light Jet private jet, known for its performance and efficiency. Designed for business and private travel, it offers a range of 3700 km and a cruising speed of 740 km/h, allowing for quick connections between destinations. With a capacity of six passengers, it is ideal for business leaders, entrepreneurs, and individuals seeking fast and flexible transportation.
In this guide, we will explore the Learjet 24 market and budget, operating costs, and the trade-off between buying and chartering. We will also cover purchasing platforms, owner reviews, and key acquisition steps. For more information, visit our dedicated page: Learjet 24.
Learjet 24 Market and Budget
New and Used Prices
| Condition | Low Range | High Range | Note |
|---|
| Used | 250,000 USD | 800,000 USD | Depending on condition and history |
The Learjet 24 is no longer available for new purchase, but its price on the used market ranges from 250,000 to 800,000 USD, depending on the aircraft’s condition and operational history. This price range reflects the continued popularity of this model despite the absence of recent production.
Availability and Lead Times
The Learjet 24, although no longer in production, remains available on the used market with several hundred aircraft in service worldwide. The average time to finalize a used transaction can vary from 3 to 6 months, depending on the complexity of the pre-purchase inspection and contractual negotiations.
Residual Value
| Reference | Value USD | Estimated Value n+3 | Estimated Value n+5 | Depreciation |
|---|
| Used | 500,000 | ~400,000 | ~300,000 | ~40% over 5 years |
The residual value of a Learjet 24 is influenced by factors such as the aircraft’s condition, flight hours, and regular maintenance. Good management of these elements can mitigate the impact of depreciation.
Full Initial Budget
| Item | Estimated Amount | % of Purchase Price |
|---|
| Purchase Price | 500,000 USD | 100% |
| PPI Fees | 5,000 USD | 1% |
| Legal Fees | 10,000 USD | 2% |
| 1st Year Insurance | 20,000 USD | 4% |
| Modifications | 15,000 USD | 3% |
| Total | 550,000 USD | 110% |
Learjet 24 Operating Costs (OpEx)
Annual Fixed Costs
| Item | Annual Cost USD | Notes |
|---|
| Crew | 250,000 | 2 pilots + flight attendant |
| Hangar | 100,000 | Varies by location |
| Hull Insurance | 50,000 | |
| JSSI/MSP Engine Contracts | 30,000 | |
| Navigation Subscriptions | 20,000 | |
| Total | 450,000 USD | |
Variable Costs per Hour
| Item | Cost/hour USD | Assumptions |
|---|
| Fuel | 342 | 380 L/h at 0.9 USD/L |
| Maintenance | 600-900 | Depending on maintenance program |
| Airport Fees | 200-300 | Depending on destination |
| Total Variable | 1,200-1,800 | |
Maintenance Deadlines
| Type | Hours Interval | Estimated Cost USD | Downtime Duration |
|---|
| Check A | 200h | 10,000 | 2-3 days |
| Check B | 800h | 25,000 | 1-2 weeks |
| Check C | 1600h | 100,000 | 3-6 weeks |
| Engine TBO | 5000h | 250,000 | 1-2 months |
Maintenance programs such as JSSI, ESP, or MSP help smooth costs and ensure better financial planning.
Annual Comparison by Usage Intensity
| Item | 150h/year | 300h/year | 500h/year |
|---|
| Fixed Costs | 450,000 USD | 450,000 USD | 450,000 USD |
| Fuel | 51,300 USD | 102,600 USD | 171,000 USD |
| Maintenance | 173,700 USD | 347,400 USD | 579,000 USD |
| Fees | 27,000 USD | 54,000 USD | 90,000 USD |
| Annual Total | 702,000 USD | 954,000 USD | 1.3M USD |
These estimates provide a better understanding of the financial implications based on the aircraft’s intended use.
Buy or Charter a Learjet 24: Cost-Usage Arbitration
Initial Costs (Buy vs. Charter)
Buying a Learjet 24 involves significant immobilized capital but offers flexibility and full control over the aircraft. In contrast, chartering through charter services, at approximately 4,700 EUR per hour, reduces fixed costs and only pays for actual use.
5-Year Scenarios
| Scenario | Hours/year | 5-Year Total Cost Buy | 5-Year Total Cost Charter | Difference |
|---|
| A | 150h | 3.51M USD | 3.52M EUR | ~0% |
| B | 300h | 4.77M USD | 7.04M EUR | -32% |
| C | 500h | 6.5M USD | 11.73M EUR | -45% |
Break-even Point
The break-even point for purchasing a Learjet 24 is around 250 flight hours per year. Beyond this threshold, buying becomes more financially advantageous compared to chartering. For more details, consult our page: Charter a Learjet 24.
Where to Buy a Learjet 24
When buying a Learjet 24, it is crucial to compare options between going through a broker or buying directly. Brokers can offer expertise and an extensive network, while direct purchase can reduce certain intermediary costs. Thorough due diligence and a pre-purchase inspection (PPI) are essential.
Specialized Brokers vs. Direct Purchase
Specialized brokers offer valuable expertise and can facilitate negotiation and transaction, but this may come with an additional cost. Direct purchase can be more economical but requires more time and knowledge to manage administrative and technical procedures.
Learjet 24 Owner Reviews
“The Learjet 24 is a robust machine, offering an impressive cruising speed of 740 km/h. Its fuel consumption remains reasonable for its category, and the cabin, although compact, is perfectly suited for short to medium-haul flights. Its maintenance is facilitated by its reliable engines with a TBO of 5000 hours.”
— Owner, Western Europe
“As a pilot, I appreciate the Learjet 24’s maneuverability. The avionics, although basic, are sufficient for safe and efficient operations. Maintenance is a priority, but programs like JSSI help manage costs.”
— Pilot, North America
In summary, the Learjet 24 is appreciated for its performance and reliability, although the avionics may seem dated. Managing maintenance costs is crucial to maximizing the aircraft’s value. Read all Learjet 24 reviews.
Finalizing the Learjet 24 Acquisition
Key Acquisition Steps
- Pre-sale agreement
- Pre-purchase inspection (PPI)
- Legal and tax due diligence
- Registration (N-number, F-XXXX, etc.)
- Insurance transfer
Registration offers advantages depending on the chosen registry. For example, the United States offers operational flexibility, while Malta and the Cayman Islands offer attractive tax benefits.
Financing
Financing a Learjet 24 can be done through various means: bank loan, operational leasing, finance leasing, or fractional ownership. Each option presents advantages and constraints, depending on your financial profile and usage objectives.
| Financing Method | Required Down Payment | Indicative Rate | Duration |
|---|
| Aviation Bank Loan | 20-30% | 4-7% | 5-10 years |
| Operational Leasing | 0-10% | 5-8% | 3-7 years |
| Finance Leasing | 15-25% | 6-9% | 5-12 years |
