Air travel plays an important part in the transportation industry. More than 1.7 billion individuals use air travel every single year – and the number continues to increase.
Let’s face it though, traveling in a regular passenger aircraft can make you feel cramped up and uncomfortable. This is why private jets are becoming so popular. With private aviation, you get to enjoy a luxurious way of traveling by air.
In recent times, we’ve seen a significant increase in interest for flights in a private jet. With this in mind, we decided to take a look at the current news in the private aviation industry.
One of the major stories circulating right now is the fact that the demand for a private jet has been increasing significantly in just a short period of time.
In fact, a 68% growth rate in the demand for private jets was observed within just the first quarter of 2021.
There are a few reasons this type of aviation has become so popular. In the last year, the entire world was affected by the Covid-19 pandemic. This is one factor that has certainly contributed to a higher demand for private aviation services.
The virus spread throughout the entire world, causing people to become concerned.
The use of a private jet means fewer individuals are present in the aircraft. This made it easier to practice social distancing. Additionally, access to these aviation services has also increased, with several new companies buying jets to give travelers a private air travel option.
It should also be noted that the private jet industry recovered at a significantly faster rate. This comes into play when comparing the recovery during the pandemic to that of global air travel companies.
In addition to the higher demand, there has also been an increase in the number of private jet memberships recorded among global leaders. Compared to one year ago, companies are reporting an increase of over 50% in the number of travelers signing up for a membership.
Access to a private flight is still significantly more expensive compared to public airlines, but there are benefits. Wealth creation programs have also been established throughout this time.
This, in turn, has helped some people create wealth from home. In turn, this allows these people access to private flying services – as their budgets now allow for higher expenses when they choose to fly instead of drive.
The higher request for private flight services can not only be seen among the average consumers, but also in the business world. In fact, according to one report, some businesses are now looking to buy their own jets.
This often leads to the purchase of second hand aircraft. The jet would then be customized according to the needs of the company. The same report states that in recent news, there now seems to be a shortage of luxury jets. This is, in part, due to the large number of business owners turning to the safety that comes with the use of a private aircraft.
Insights show that this demand has two sides to it. A company looking to gain access to a private flight may first consider buying a new jet.
Thus, reports of a shortage were seen rising in June 2021. As it became clear that there is a shortage of new jets, we also see an increase in pricing for second hand aircrafts.
This is also why many people and business owners turn toward companies that offer flights in a private aircraft, without the need to buy a jet themselves. This can be a more economical choice when flying, and ensures the business is not affected by the rising prices.
Another thing we noticed recently is the Covid-19 pandemic driving an increase in interest for private jet usage. The virus is known to be highly contagious and caused many people to lose their lives over the last year. As lockdowns started to ease in some countries, businesses quickly jumped to the occasion to start working again. This meant traveling became essential, but the fear of Covid-19 was still real at this point in time.
Due to these concerns, many people have started to consider the use of private jets. Only a small number of individuals are allowed on these private jets. This means that there is a significantly lower risk of being exposed to the Covid-19 virus when flying private.
In the month of June, many private jet companies reported that as much as half of customers were new. This means there were many people moving from regular flights to private jets. Additionally, some of these companies also report a growth rate in the number of people who fly with them – with up to 127% growth reported when compared to 2019. The reduced risk of virus exposure accounts for more than just the time spent inside the jet. Prior to entering an aircraft, there is often a long line of individuals who will be going on the flight. This, in turn, adds another area where a person risks exposure to the virus. With a private jet, there is no line to worry about. This is because the private jet is booked beforehand and only a limited number of passengers are allowed on board. Once the passengers arrive at the airport, they are transported to the area where the private jet is stored – without waiting in a long line.
Private aviation offers a more luxurious aircraft, allowing for added comfort and safety when traveling by air. The costs associated with using a private jet have started to decline too, which explains the fact that the interest in these services is quickly rising. Whether for business or personal purposes, private aviation remains a good alternative to regular air traveling options.