Private Jet Trends: Booking Private Jets on the Rise
They’re private jet trends that might not have been predicted this time a year ago, and yet they’re a reality: Demand for private planes is stronger than ever. The bigger, the better. In fact, demand is so strong for booking private jets right now that aircraft availability has become limited, and operators are getting selective about their trips. What’s driving these private jet trends, and what else are jet charter brokers like Stratos noticing right now?
1. Demand for booking private jets is strong
While travel bans have led to a slag in tourism travel to the US from other countries in 2017, Americans themselves are logging a lot of miles in private planes within the US. One of the biggest reasons we’re seeing so much demand is that there’s optimism in the business community across the country. That means there’s not just a budget but a justifiable budget for charter jet travel. According to the National Business Aviation Association (NBAA), all that business travel is coming from a range of kinds and sizes of organizations. “ Only about 3 percent of the approximately 15,000 business aircraft registered in the U.S. are flown by Fortune 500 companies, while the remaining 97 percent are operated by a broad cross-section of organizations, including governments, universities, charitable organizations and businesses—large, medium and small. There’s also been a bounceback or gain in incomes, fuelling private jet travel for pleasure.
WHERE WE’RE SEEING INCREASES IN DEMAND:
Increase in requests for Gulfstream, and comparable larger aircraft; more demand for mid and super mid-size aircraft
Of course, the more people aboard, the more economical flying on private jets becomes. We’re seeing both families on vacations and corporations heading to conferences or retreats take advantage of the value and convenience of booking private jets over commercial airlines. When you divide the cost of booking private jets by six or eight people, and you factor in the time you save not having to wait in security or on the tarmac, booking private jets starts to look pretty reasonable, and more people are realizing that. These aircraft also offer a lot of great amenities, including layouts that let you lounge or hold a meeting, space for the dog (or dogs!), you name it. Number of new clients well above average For us, one of the hallmarks of success is our long-term client relationships. We’re incredibly proud to still be serving our very first client 10 years later, and we’re always glad to receive the referrals that lead to new client bookings–but 2017 has been a banner year for new clients. We hope that’s a reflection of what we’re doing to provide safe and exceptional travel experiences, as well as what’s happening in the market in general. Fridays and Sundays are the most popular days for private jet travel
Airports across America see heaps of traffic on these two days, and it’s the same for booking private jets. People are heading home from a week in the city, they’re heading out of town for the weekend, or, on Sundays, they’re making their way to the next business week’s conference or meetings. Corporations and individuals that own planes are using them more than ever. We recently returned from the NBAA 2017 conference in Las Vegas, and jet charter brokers and operators alike have noticed a spike in 2017 in owners’ use of aircraft.
2. Buying private jets has become an opportunity
With such strong demand for jet charter travel, we’re also seeing an increase in individuals and organizations buying private jets—not just for their own use, but as an income-generating activity. Stratos can guide you through the process of placing it in service, identifying reputable air carriers to manage the plane, negotiating contacts for appropriate management responsibilities and making recommendations that will help mitigate risks and maximize revenue. Thinking about taking the leap? Check out our post Should You Buy or Hire a Private Jet? and 5 New Private Jets Taking the Skies by Storm.
3. Operators are getting more selective about their trips
With demand so great for aircraft right now, operators are being more mindful than ever about focusing on trips that generate the most revenue and the least maintenance (wear and tear). As one of the private jet trends that drives and is driven by demand, increasing selectivity on the part of operators has led to: • Two-hour daily minimums becoming standard again • Small, short hop charters becoming less desirable Are you looking for jet charter brokers who uphold the industry’s highest standards in safety and service? Booking private jets through Stratos Jet Charters is simple, seamless and offers complete peace of mind.