… is that there aren’t enough to go around!
Demand for private jets continues to soar as super-rich holidaymakers and business people spend vast sums to avoid busy travel routes and delays. One travel firm said its millionaire clients were willing to pay up to £200,000 for a week at Europe’s most sought-after destinations.
Managing Director, Roland Dangerfield: “Enquiries from new customers has jumped by 150 per cent since February, including a number of hedge fund managers and bankers. There has also been heightened interest in the purchase of private jets and their subsequent management.”
The article in the FT reports the main reason for this increased demand is the emergence of a new class of private flyer:
“Those who have discovered the joys of being unshackled from commercial-flight schedules and security queues, and of reducing their “touch points” (those moments that bring one into less-than-two-metres’-distance contact with the rest of humanity) from an average of hundreds to fewer than 30 per flight. They traded up to flying private during the pandemic for peace of mind; they’re sticking with it for the call-your-own-shots convenience, despite annual spends of $500,000 or more for fractional ownership, and entry-level membership fees as hefty as $80,000. According to business intelligence company WINGX, private flights now account for a quarter of all air traffic in the US — around twice what they did pre-pandemic.”