1.888.TALON.AIR
1.631.753.8881
Print
Thursday, November 15th, 2012

Private Jet Sector On The Rise

Private Jet Sector On The Rise

After several years of a no-growth to slow-growth economy, the luxury travel sector is experiencing a rebound. The upcoming release of the Gulfstream G650 is contributing to an increase in consumer interest after five consecutive recession years reduced air traffic by as much as 30 percent. The next year and a half has been forecast to offer a steady, albeit slow bounce back for this industry. Cessna, the largest manufacturer of business jets by volume, has produced 41 new jets from the Citation line in the 3rd quarter of 2012. While this is down from 47 last year, revenues have grown by 7 million dollars due to larger used-jet sales.

China is expected to be the largest contributor to the recovery and analysts are predicting that the country will be well into the top 10 for business jet ownership as quickly as 2025. Analysts are also forecasting that new regulations will influence more corporate executives and high net worth individuals toward private jet charter travel, rather than corporate jet ownership. With increased security measures at public airports and additional charges by commercial airlines, more corporations and high net worth individuals will segue into the private jet sector for convenience, security, exclusivity and privacy.