What does it mean to have the money to fly on your own private jet? It seems to be a status symbol, but it’s also an extremely expensive way to travel. Whether buying a new or used jet, you’re on the hook for hangar fees, maintenance, insurance, outrageous airport fees, fuel, and food, plus backup aircraft and crew if your primary one breaks down. And that’s if you even fly much at all.More info:www.timeflys.co
This is why private aviation remains a vital and lucrative industry, with the world’s wealthy now more than ever before opting to splurge on luxury air travel during the Covid pandemic. It’s not just celebrities like Elon Musk, Taylor Swift and Jay-Z flying on private jets; the number of wealthy people opting to charter is up by double-digit percentages, and it continues to climb as a share of overall passenger travel.
The History and Evolution of Private Jets
The most popular jets are categorized as light, mid-size and ultra-long range jets and are known as executive jets or business jets. The difference between them is the passenger capacity, cabin size, range and cost-effectiveness of each model.
In the light jet category, you’ll find aircraft such as the Embraer Phenom 300 and the Bombardier Global 7500. These models offer a spacious cabin and the ability to fly to and from cities around the globe. These are perfect for regional travel with five to ten passengers, and can carry up to 150 cu. ft of baggage.