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Young Ultra-High Net Worth buyers like it big when it comes to their private jets. That’s according to a just-published market outlook for pre-owned aircraft sales by broker Jetcraft. It found 81% of buyers under 50 take large-cabin private jets compared to just 50% of older customers.
Private jet rental broker PrivateFly has updated its quarterly reports with an annual recap of trends and milestones for 2019.
Of note, it recorded its fastest-ever ‘go now’ flight – just 16 minutes from inquiry to take-off for a client flying from New York to Nashville.
While Brexit and some of Europe’s sputtering economies may be making headlines in the business press, Directional Aviation’s PrivateFly said it enjoyed a 26% jump for flights in Europe during the third quarter of 2019, compared to last year.
Adam Twidell, PrivateFly’s CEO said, “Demand growth was generated from new and existing PrivateFly clients, and from our extended OneSky family (and) Our market-leading pricing, including the certainty offered by our fixed-route City Pairs offer on the Nextant 400XTi and Legacy 600.”
The company also released data on charter pricing, as well as preferred cabin size, jet models, and demographics.
According to PrivateFly, the Top 10 destinations for its clients is led by London, followed by New York, Nice, Ibiza, Paris, Milan, Palma de Mallorca, Zurich, Olbia, and Cannes.
The U.K.-based company had expanded into the U.S. with its acquisition of Bird Dog Jet which brought with it a contract for the Virtuoso network of luxury travel agencies which generates over $25 billion in annual travel sales. In September PrivateFly was acquired by the Directional Aviation family, which includes Flexjet, Sentient Jet and Skyjet.