We might still be in the middle of a pandemic but it seems the super-rich are still investing in luxury jets, specifically, aircrafts with engines big enough to enable them to travel transatlantically without the need for stopovers.
According to The Telegraph, there’s been a surge in younger billionaires seeking out larger, long-range private jets. Jetcraft Owner Jahid Fazal-Karim told the newspaper:
‘If you are a tech entrepreneur or CEO who has been successful at a young age, you’re more likely to buy a large jet because it fits with your lifestyle and the global nature of your business.’ He added, ‘You may have a home in Italy and an office in California so need a long-range aircraft to make the non-stop journey between the two.’
Private jet charter company Luxaviation revealed they had seen bookings of jets that could take groups of 10 or more double in the UK compared to this time last year and credit the increase down to the fact that while Europe has been off-limits for most travellers, long-haul destinations including the Maldives and the Caribbean were open for visitors seeking winter sun.
Luxaviation CEO George Galanopoulos told The Telegraph: ‘I do expect once the UK and Europe’s lockdowns ease, clients will go further afield, leading to an increase in use of large-cabin aircrafts, which will allow greater movement in the cabin for families, while getting them to where they want to go as quickly and safely as possible.’
Some private jet companies have also noticed clients not returning from their Christmas break, remaining in long-haul locations during lockdown. PrivateFly’s CEO Adam Twidel said: ‘While people are likely to travel less than before, they will seek to make their trips count more, so they’re taking longer, once-in-a-lifetime trips.’
While the trend for bigger jets shows an increase, the newspaper also reported that many of the private jet companies had also seen an surge in bookings for smaller aircrafts, noticeably used by first-time charterers who were seeking out luxury arrangements during the pandemic.
