I looked into this, for shits and giggles one time when I was pissed at the airport, and the cost of one of those small jets will run you almost $500k a year by the time you factor in the upkeep, storage and pilot for the thing. I’d rather just keep flying first class, unless you buy one of the large commercial jets that’s coming off line. Those are cheap, relatively speaking.
How much does it cost to buy a Cessna Citation CJ4? Prices range between $4,790,000 and $6,900,000
Annual Budget
The total annual budget for flying a Citation CJ4 private jet 200 hours per year is approximately $661,217 or $980,824 for flying 400 hours per year
https://www.libertyjet.com/jet-ownership-costs.aspx?jetType=Citation%20CJ4I still think there's a market for an airline using smaller business jets at general aviation airports. They could fly to major hubs using a code sharing agreement with the majors.
I used live next door to a small airport with a 5000 ft runway that I saw maybe three or four airplanes fly out of per day. I would have much preferred flying out of that airport rather than the main airport in town.
Don't forget all of the regional airplanes like the ERJ135 and CRJ 900 are just stretched business jets. All of us have flown on a business jet with American Eagle, United express, or Delta connect.