How Much Does It Cost To Store A Plane?
Storing an airplane can be an expensive endeavor depending on the size of the plane and the type of storage facility. If you’re an aircraft owner exploring storage options, the costs may surprise you.
If you’re short on time, here’s a quick answer to your question: Storing a small single-engine piston plane can cost $200-$500 per month, while larger business jets may cost $2,000-$5,000 or more per month for hangar storage.
In this comprehensive guide, we’ll cover everything you need to know about aircraft storage costs including:
Factors That Affect Storage Costs
When it comes to storing a plane, there are several factors that can affect the cost. Understanding these factors can help aircraft owners make informed decisions about where and how to store their planes.
Plane size and type
The size and type of the plane play a significant role in determining storage costs. Larger planes naturally require more space and may require specialized storage facilities. For example, storing a small single-engine propeller plane will generally be less expensive than storing a large commercial jet.
Outdoor vs. hangar storage
Another factor that affects storage costs is whether the plane is stored outdoors or in a hangar. Outdoor storage is generally less expensive than hangar storage, but it may expose the plane to the elements and increase the risk of damage from weather conditions.
Heated or unheated facilities
The choice between heated or unheated storage facilities can also impact the cost. Heated facilities provide protection against freezing temperatures, which is important for areas with harsh winters. However, heated storage facilities tend to be more expensive than unheated ones.
Security level
The level of security provided at the storage facility can also affect the cost. Facilities with advanced security measures, such as surveillance cameras, access control systems, and 24/7 security personnel, may charge higher fees for their services.
However, these measures can provide peace of mind for aircraft owners.
Location and demand
The location of the storage facility and the demand for storage in that area can also impact the cost. Storage facilities located in popular aviation hubs or areas with high demand for aircraft storage may have higher prices due to the limited availability of space.
It’s important for aircraft owners to consider these factors when budgeting for storage costs. Comparing prices and services offered by different storage facilities can help owners find the best option that meets their needs and budget.
Average Storage Costs by Aircraft Type
Single-engine planes
Storing a single-engine plane typically costs between $50 and $150 per month, depending on the location and facilities. The costs may vary based on factors such as the size of the aircraft, the amenities provided by the storage facility, and whether the plane is stored indoors or outdoors.
It’s important to note that these costs do not include additional expenses for maintenance, insurance, or fuel.
Small business jets
For small business jets, the average storage costs can range from $500 to $2,000 per month. These costs may be higher than those for single-engine planes due to the larger size and higher value of the aircraft.
In addition to the basic storage fees, there may be additional charges for services such as hangar space, security, and maintenance.
Midsize corporate jets
Midsize corporate jets typically have higher storage costs compared to smaller aircraft. On average, the storage fees for midsize jets can range from $2,000 to $5,000 per month. These costs may vary depending on factors such as the location, hangar space availability, and additional services provided by the storage facility.
Large airliners and cargo planes
Large airliners and cargo planes require specialized storage facilities due to their size and unique requirements. The storage costs for these aircraft can be significantly higher, ranging from $10,000 to $50,000 per month.
These costs include expenses related to hangar space, maintenance, security, and other specialized services.
It’s important to keep in mind that these figures are just averages and can vary depending on various factors such as the location, specific storage facilities, and any additional services required. For more accurate and up-to-date information, it is recommended to contact storage facilities or aviation experts who can provide specific details and quotes based on individual needs.
Getting the Best Storage Deal
When it comes to storing a plane, finding the best deal is crucial. Here are some factors to consider in order to get the most cost-effective storage option:
Municipal vs. private airports
Choosing between a municipal airport and a private airport can have a significant impact on the cost of plane storage. Municipal airports, being government-owned, often offer more affordable storage options compared to private airports.
However, private airports may provide additional amenities and services that could be worth the extra cost. It is essential to weigh the benefits and costs of each option before making a decision.
Long-term contracts
Entering into a long-term storage contract can help reduce the overall cost of storing a plane. Many storage facilities offer discounted rates for customers who commit to storing their plane for an extended period of time.
This can be a great option for plane owners who do not anticipate needing frequent access to their aircraft.
Space sharing
Sharing storage space with other plane owners is another strategy to cut down on storage costs. By splitting the expense with other individuals or organizations, plane owners can significantly reduce their storage expenses.
Additionally, sharing space can create a sense of community among plane owners, allowing for networking and collaboration opportunities.
It is important to conduct thorough research and compare prices from various storage facilities before making a decision. Online directories such as AirNav or GlobalAir can provide a comprehensive list of storage facilities, along with their respective prices and amenities.
By considering these factors and exploring all available options, plane owners can find a storage deal that meets their needs and budget.
Additional Hangar Cost Considerations
While the cost of storing a plane primarily revolves around the rental or lease price of a hangar, there are several additional factors that should be taken into consideration. These factors can significantly impact the overall cost of storing a plane.
Here are some important additional hangar cost considerations:
Insurance requirements
When storing a plane in a hangar, it is crucial to have adequate insurance coverage. Insurance requirements may vary depending on the size and value of the aircraft. Insurance premiums can add to the overall cost of storing a plane, but they provide essential protection in case of accidents, theft, or damage.
It is recommended to consult with an aviation insurance specialist to determine the appropriate level of coverage for your aircraft.
Utilities and other fees
In addition to the hangar rental cost, there may be additional fees for utilities such as electricity, water, and waste disposal. These costs can vary depending on the location and size of the hangar. Some hangar facilities may also charge additional fees for services like fueling, aircraft washing, or regular maintenance.
It is important to inquire about these fees upfront to have a clear understanding of the total cost of storing a plane.
Taxes
Taxes can also be a significant factor in the overall cost of storing a plane. Hangar owners or operators may be subject to property taxes or other local taxes depending on the jurisdiction. These taxes can vary widely and may be based on factors such as the size of the hangar or the assessed value of the aircraft.
It is advisable to consult with a tax professional or local authorities to understand the tax implications of storing a plane in a hangar.
Maintenance while stored
While a plane is stored in a hangar, it is important to ensure proper maintenance to prevent deterioration and potential damage. Regular inspections, engine runs, and other maintenance tasks may be required even when the aircraft is not in active use.
These maintenance costs can vary depending on the type of aircraft and the specific requirements outlined by the manufacturer. Proper maintenance is crucial for keeping the plane in optimal condition and avoiding costly repairs in the future.
Considering these additional hangar cost considerations is essential when calculating the overall expense of storing a plane. It is recommended to research and compare different hangar options, taking into account not only the rental or lease price but also the associated insurance, utility fees, taxes, and maintenance costs.
By understanding the full picture of hangar expenses, aircraft owners can make informed decisions and ensure their planes are stored safely and cost-effectively.
Conclusion
As you can see, hangar costs can really add up for larger planes. Carefully researching all your options and negotiating the best deal possible could potentially save tens of thousands per year.
While outdoor tie-downs are cheaper, keep in mind the tradeoffs in terms of aircraft deterioration, depreciation, and higher insurance rates. Ultimately finding the right balance will depend on your specific situation and budget.