Once grounded by a skydiving economy, private jet travel is slowly but surely returning to its rightful place in the world of business.
Commercial airlines: More expensive, less convenient
Major airlines are raising airfares and reducing routes, and travelers are encountering ever longer security lines and more delayed flights. These factors, combined with the savings, convenience and efficiency private jets offer, have fostered the first increase in private flight demand since 2008.
And it’s not only the wealthy and top executives hopping aboard private jets. Some private jet firms are lowering prices to lure in less-affluent consumers through flight-sharing arrangements and social networking campaigns that offer last-minute deals.
With these incentives and options like lower-cost charter flights and fractional ownership, flying via private jet is not just for the Fortune 500 anymore, but also for a typical business traveler.
The trend is global; European jet businesses are also noticing a shift in clientele. Nearly 50 percent of passengers on private jets are middle management, engineers, accountants and sales personnel.
Private flights give competitive edge
The current global business environment — which requires immediate responsiveness and flexibility — has changed the way business people travel. Private aviation is no longer a luxury but a necessity for business survival in a competitive marketplace.
Aviation experts predict that the demand for private air travel will continue to grow as corporate earnings improve. And corporations will have some competition as they consider private jet purchases. Brazil, Russia, India and China are producing new millionaires and billionaires at an ever-increasing pace, generating a pool of private jet buyers larger than the available supply.
This trend is expected to accelerate over the next decade, making it essential that those considering purchasing a private jet do so before the limited supply grounds them. A professional jet broker can help you take advantage of the current market conditions.