Your own private jet for $4

The cost of flying on a private jet has plummeted in recent years as new technologies, growing competition and swarms of empty jets have driven down prices.

But JetSuite has come up with the ultimate jet-setter bargain: a private jet for $4. That's right, $4, with no added zeros—basically the price of a Big Mac.

JetSuite plane
Source: Jessica Ambats

JetSuite, the California-based light-jet operator, is running a special promotion for July 4 offering the $4 planes (yes, a whole plane) for travel on Saturday. There are catches of course: you won't know where you're flying until the night before or even the morning of July 4. And you'll have to be lucky, since only six or seven planes could be available.

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But for those who want to their own plane, plush leather seats and free-Wi-Fi this holiday, it may be worth the trouble.

"It's the ultimate fly-by-the-seat-of-your-pants experience," said a spokeswoman.

Here's how it works: Customers have to sign up on JetSuite's website and list their top picks for departure and destination airports. JetSuite will then post its empty leg flights—or flights scheduled with no passengers booked—online on Friday, July 3 for travel on July 4. It will also send customers an email notification and customers who respond to the email notification first will get the flight.

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Last year JetSuite had six planes available for the deal. The company won't know this year's total until the end of Thursday. The $4 pays for the entire plane, which can seat between four and six people depending on the type of plane available. JetSuite operates Phenom 100s and Citation CJ3s.

Examples of routes that could be offered include Teterboro in New Jersey to Miami or Palm Beach in Florida; Aspen, Colorado, to Teterboro; or Los Angeles to Cabo San Lucas in Mexico.

The company's "daily deals" last-minute flights usually go for around $530 or $550.

Another hitch: The $4 plane is only for one way—passengers will have to figure out their own way home.