The pandemic has changed people’s travel habits. For instance, affluent passengers choose private travel over commercial flights due to convenience and safety. The result has been an increasing demand for private flying. But according to private aviation firm XO, the private aviation industry can’t keep up with this demand.
Vista Global formed XO in 2019 after acquiring and combining JetSmarter and XOJET into one company. XO has become one of the biggest private aviation companies in the United States. Aside from offering chartered services, XO allows passengers to make new flights and offer unused seats to fellow travelers through an app. Travelers can also charter an entire aircraft if they’re flying alone or with colleagues, friends, or family.
The Demand Outstrips Private Jet Supply
As many travelers lean towards private travel, there aren’t enough private aircraft to cover this demand. According to XO’s head of product and senior VP Vinay Roy, people continued to use private jets to observe social distancing. Commercial flights to less-visited destinations were also canceled, so some chose to fly privately.
How XO is dealing with supply shortage
Supply problems have hit other businesses like cars, electronics, and other consumer product supplies. As a result, prices are increasing. But XO is tackling this issue head-on.
Other private aviation companies are also trying to do the same. Private aviation company NetJets, for instance, halted jet light aircraft leases and card sales. In particular, XO’s flight-sharing services have grabbed the interest of travelers this year.
According to Roy, one million web queries were made on the company’s web and mobile apps. After all, XO’s flight-sharing services allow more than ten passengers to join already booked flights. This option increases the jet’s seating capacity by 230 percent and helps passengers save more money.
Flight sharing services reduce cost
Flight sharing programs help increase the existing supply of private jets and reduce costs for travelers. If a passenger books a private jet by seat, they usually pay 90 percent less than if they had secured the entire charter. This option makes private flying cheaper and more accessible for everyone.
Roy mentioned that many of their clients are flying privately for the first time. In June 2021, they saw a 56 percent spike in first-time private flyers compared to June last year. Since XO members can book seats using the app, the company can make a seating plan for friends and families who want to sit together.
Private flying also comes with premium perks such as complimentary Wi-Fi and being greeted by staff at the company’s private jet terminal. XO chief marketing officer Lynn Fischer said the company offers international flights, but domestic chartered flights are the most popular. Since restrictions have been lifted in the United States, they hope to get more international flights soon.
Expectations for Private Aviation
Passengers who previously used commercial flights have switched to private flying and plan to continue to do so. XO expects private aviation to become much more common in the next five years.
Post-pandemic private aviation boom
CEOs of private jet companies believe that the industry will boom as the affluent flyers abandon commercial airlines. According to some experts, it may take years before commercial flights return to pre-pandemic levels.
CEOs from America’s private charter companies and overseas also agree that despite the downturn caused by the pandemic, they are expecting a quick recovery. Moreover, they’re expecting a boom as affluent travelers are expected to switch from commercial flights to private flying.
Jason Middleton, CEO of Silver Air, believes that the industry will recover quickly. Private aviation accommodates all industries, and he believes that businesses will have to depend on private jets because it is safer.
Advantages of private flying
Chartering private jets allows travelers to determine the destination and fly in a comfortable environment tailored to their needs. Since they can decide on the arrival and departure terminals, they can choose a land closer to their destination. Thus, they don’t need to worry about arriving late at their destination.
Travelers can also take their pets with them. Some commercial airlines charge hefty fees for allowing pets on board. In private jets, pets can sit next to their owners. Moreover, travelers can choose the time of departure. Thus, they don’t need to rush to the airport. Private aviation companies also offer different aircraft sizes with lavish interiors like LCD screens, mood lighting, sofas, leather seats, and satellite phones.
In addition, private aviation firms have private terminals and lounges where passengers can relax before the flight. During the flight, travelers can hold work or secret conferences without interruption. They also have menus designed to fulfill the passenger’s wish. Commercial airlines can’t provide this level of service. Private flying seems expensive, but the time saved and convenience offset the initial cost.
High cost of booking an entire aircraft
Businesses often use private jets to transport executives between meetings and officers. They also use private aircraft for other matters that commercial flights can’t satisfy, like the privacy and luxury of traveling in a private jet. Private flights are more convenient because they don’t depend on airline schedules.
However, the cost of booking an entire jet has repelled even wealthy travelers and those who don’t think twice before reserving a first-class seat. Jamie Walker, CEO of Jet Linx, believes that they will see a few new first-time private flyers that could afford the cost of booking the entire jet.
The cost of chartering a private aircraft can also add up quickly. Charter operators will usually give travelers an initial quote based on flight time, airport fees, and hourly rates. However, that quote doesn’t include catering, ground transportation, and other optional extras. Delays due to bad weather and air traffic control can also increase costs.
Conclusion
Private aviation offers a safer and more convenient way to travel by reducing exposure to security and health risks. Aside from the lower risk for contagion, private jet travel also allows passengers to access private terminals and services before and during the flight. And with these benefits, it looks like this trend isn’t going away anytime soon.
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