While commercial airline travel was among the industries hardest hit by the pandemic, private jet services took off.
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.
