In the aftermath of the easing of Covid-19 restrictions, the popularity of air travel is rising once again. In particular, the private jet industry has shown significant growth, and venture capitalists are eyeing up future lucrative opportunities. With over 3.3 million private flights around the world in 2021, data suggests that last year was the busiest on record for private aviation.
So, what’s causing this surge in private flying and why should you focus your next investment on it? Read on to find out more about this exciting, developing opportunity.
1. Increased Accessibility
Largely thanks to global tax cuts reducing the overall cost of aircraft ownership, flying in a private jet is starting to appeal to people who’ve never experienced it before.
With a good supply of used jets available, specialist companies and professionals across the world have been able to make exciting updates to their fleets. In turn, older jets have not been discontinued but instead are now offered at a lower premium, opening an exciting opportunity for entrepreneurs.
2. Ultimate Convenience
With passengers looking to fly privately for a more practical purpose than ever before, it’s evident that private flying isn’t just about luxury anymore. Increasingly efficient, logical, and simple, it makes more sense for the world’s most elite individuals to seek private jets for hire instead of opting for an economy flight.
Not only does flying privately mean you’ll never have to wait in line at the airport terminal again, but your inflight experience will be tailored exactly to your personal requirements. On a private jet, you’ll never have to follow a schedule – the pilot departs exactly when you’re ready to leave. Now more than ever, professionals are using private flying for unrivalled convenience.
3. Heightened Demand for Private Business Travel
With the pandemic prompting a worldwide decline in the use of public transport, corporate groups and individuals saw the opportunity to fulfil their international business requirements via private flight. While the future of corporate travel still remains uncertain, it is expected that corporate travel will start to grow significantly. With long-postponed meetings finally able to take place, it’s also likely that larger companies will ‘splash out’ on a memorable, efficient service for their team.
Furthermore, with the ongoing recovery of the aviation industry plagued by major staff shortages prompting hour-long delays and thousands of flight cancellations at international airports, opting for a bespoke private flight is still a more reliable option for many.
Private Travel Predictions
Overall, several factors contribute to an optimistic outlook for private aviation, especially within the luxury corporate market. With widespread vaccinations available and a deceleration of new Covid-19 variants, confidence in air travel is starting to bloom.