The COVID-19 pandemic isn’t the only thing that triggers a rise in private jet usage. Ultimate convenience, easy-to-use private jet programs, and greater comfort are factors that make private jet flights highly in demand, and this air travel option is here to stay. The pandemic had people looking for the safest and most comfortable flights instead of booking commercial ones, making private jet fights more in demand.
Private jets are often associated with people having enough money to afford them. The rich and famous often try flying with private jets. In the end, tend to fly in and out more without really noticing it. Passengers can save themselves from the long and tiring security check lines with private jets. For years, private jets have carried super-rich and famous people making these an important status symbol.
With the new Omicron variant, global travel tends to be riskier and more complex as many countries are once again closing their borders to tourists. But when the pandemic strikes, more passengers resort to private planes, both big and small. These passengers choose private jets to keep a distance from other travelers. This situation gives way for a rise in private jet flights and the number of billionaires with travel fever.
The Boom in the Business Jet-buying
There’s a boom in business jet buying, and no one can deny that this boosts the overall business jet industry. Wealthy travelers, large companies, and the most prominent operators are the key players in this business jet-buying sudden boom.
Discover what largest companies are up to
NetJets now has a diverse fleet comprised of over 760 aircraft for 6 to 14 passengers. This large fleet makes them one of the leading aircraft operators worldwide. The company provides various prepaid subscription programs, ensuring many flight hours. The company also offers options to purchase a share of jets. The majority provides leasing models or one-time charters.
The membership card programs of NetJet are so popular that they’ve sold out. The company is currently adding names to the waiting list due to the increasing flight demand these days. Flight hours of private jets are 50% higher than the year 2020. This figure amounts to 5% more hours before the pandemic.
Not only more hours are being recorded. After 2030, when deliveries decline, more jets are sold once again. Based on industry surveys and insights, there will be a massive shopping spree with around 7,400 new business jets that cost $238 billion, and the supply will be over the next ten years.
The company also order 100 6-seat Embraer Phenom 300s. These are in addition to the 100 that the company already owns. The company invests a total of $2.5 billion in new aircraft. NetJet confirms that these will be delivered now and before 2022 ends. Other manufacturers like Bombardier, Gulfstream, Dassault Falcon, and Cessna also plan to produce more light-size and medium jets.
Private jets ecological footprint
About 90% of operators reported that their buying plans hadn’t been negatively affected by environmental concerns and ongoing pandemics. In Europe, carbon dioxide emissions from jets increased by 31% between 2005 and 2009. This record shows rising quicker than emissions of commercial aviation.
The Transport & Environment or T&E report shows the climate impacts of private jets all over Europe. The report indicates that private jets are ten times more carbon-intensive than average airliners.
T&E, however, pointed out that owners of private jets with an average of €1.3 billion wealth can be part of the great solutions by helping in the development of greener technology. Such technology can also help in accelerating clean flying and innovation for all.
Commercial Woes Versus Private Growth
There’s a sharp contrast between commercial aviation and private growth. The former is linked with slow recovery since it’s more sensitive to travel bans, low numbers of passengers, and lockdowns.
Updates on short-haul and long-haul travel
While the regional and short-haul trips, particularly in the US and in China, are recovering, long-haul trips continue to recover sluggishly. The opening of the United States to fully vaccinated travelers will boost substantial demand according to Karthik Venkataraman, the leader of the transportation and logistics sector in Americas Airlines.
Though 2022 will provide a steady recovery, there’s still uncertainty. People would want to travel; however, it will be likely in 2025 or beyond. Moreover, the future can be disrupted by high prices of fuel, business class trips, and increased pressure to prevent flying. Karthik Venkataraman shares his conclusion that airlines need to be more responsive to supply and demand trends.
The recovery and return of demands
A partner at consultancy McKinsey in Munich, Nina Wittkamp, believes that commercial air travel will begin to recover in 2023 or 2024. The demand for travel and leisure, including visiting family and friends, will return in 2023. Leisure travel recovers faster because of pent-up demands. Such recovery will also open more doors for amazing travel options and opportunities and of course more revenue for the operators.
On the part of the customers, Nina Wittkamp sees the probability of an increase in ticket prices. For makers of commercial jets, she expects that there will be oversupply in many different aircraft markets as airlines are reconstructing their fleet.
As the commercial end of the aviation industry slowly pops on, private jet sectors have encountered natural tailwinds with longer waits for jets and more traffic. In the end, private jet travels are only for a few. For millions of travelers trapped in crowded airports, the need to wait longer for the perfect charter jet will be a problem to deal with.
Conclusion
There are many reasons travelers now opt for private jet flying. These reasons include ease and convenience, privacy, and luxury. But more than these, people’s thirst for comfort during the pandemic triggers increased demands for private jet flights.
As more rich and exclusive travelers try to prevent the stress and hassle of traveling during the pandemic, demands for private jet flights will soar. Bookings for getaways and vacations will be higher than usual since many travelers want to avoid the crowd. Therefore, it’s fair to conclude that as more private jets take off, more flights swell.
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