Private Jet Industry Trends Upwards during the Pandemic

As the pandemic grounds international travel, the loss in commercial airline profits is expected to reach over $118 billion. While the number of commercial flights has dropped significantly, demand for flying on a private jet has increased among wealthy and corporate customers who like to avoid busy terminals and crowded planes.

“Last year, a large number of people were introduced to the benefits of business aviation,” said Ed Bolen, head of the National Business Aviation Association. “They now understand that it is a remarkably flexible and safe way to reach places, especially those that don’t have frequent airline service.”

In the UK, demand for private jets last year was back to 93% of normal levels, while scheduled flights were down 65%. Some private jet brokers performed better in 2020 than in 2019, including the Swiss-based company Luna Jets, which sold 15% more flights. 

A similar trend was reported by Flexjet, a US-based company. “Personal travel has been the biggest driver of private aviation activity since the beginning of the pandemic,” said Marine Eugène, the company’s European managing director.