GENEVA: Airlines may find themselves mired in unprecedented turmoil – with air travel over climate concerns, pandemic shutdowns and rising oil prices plagued by soaring oil prices – but for private jet operators, business is booming.
Amid the fear of catching Covid-19, the appeal of private jets has taken off since the start of the pandemic and widespread cancellations and stringent measures have turned flying commercial into a logistical headache.
“The impact of Covid has really forced people to look elsewhere for their travel needs,” said Philip Scalabriniwho heads the southern European division of the international private airline vistajet,
“Anyone who can afford it wants a complete aircraft at their disposal,” he told AFP, adding that “the last two years have seen an incredible increase in demand for private aviation.”
Air traffic regulator Eurocontrol’s numbers confirm this.
It found that private air travel nearly doubled its global market share between 2019 and 2021, when it stood at 12 percent.
Standing inside the newest addition to VistaJet’s fleet, the Global 7500 built by Canadian business jet maker Bombardier, Scalabrini demonstrated what air travel could look like in that particular market.
On the $72 million (65 million euro) luxury plane, customers can enjoy plush cream-colored leather chairs, a large double bed and wine tasting.
To limit jet lag, cabin pressure can be controlled better than on commercial flights, allowing customers to sleep “as soundly as in their cabin in Saint-Moritz”, chic alpine ski resort, Scalabrini said.
And their pets can also travel in luxury with toys and treats on demand.
With annual contracts starting at 500,000 euros ($550,000), Vistajet’s target audience includes wealthy individuals and business leaders, with an increasing number from the tech sector.
“Obviously we see the growth of clients following the macro-trends we see in the world,” Scalabrini said.
More than anything, the pandemic has driven the latest surge in demand.
Scalabrini said last year the “Covid effect” helped VistaJet increase the number of flight hours by 90 percent.
And the company founded in 2004 by Swiss billionaire Thomas Flohr last month announced the purchase of Air Hamburg, in a move it said would help increase its flight hours by 30 percent.
The announcement, however, came just three days before Russia launched its full-scale invasion of Ukraine and Western countries launched a series of harsh sanctions, triggering panic in markets and raising oil prices.
Scalabrini said it was “a little early” to determine how the crisis would affect his company.
“At the moment we can’t fly to Russia, we can’t fly to Ukraine unfortunately, so obviously there is an impact, but it’s a minimal impact,” he said, adding that Russian customers account for five of Vistajet’s business. made up less than a percent.
“We have customers all over the world.”
While private jet companies may currently face crises affecting commercial aviation, they face similar outrage over the outsized contribution of air travel to climate change.
According to the Transport and Environment NGO, flying a private jet pollutes 10 times more than a commercial flight.
Environmental questions will be one of the biggest challenges facing commercial air travel in the long run, Philipp BerlandAn air transport expert at the Sia Partners consulting firm told AFP.
However, in the short term, he said the immediate question would be how the sector absorbs rising oil prices, and also whether private jet companies can hold on to the customers they gained during the pandemic as commercial flights become normal.
“In this region, where one-hour flight times are already very expensive, price is not the only factor,” Berland said, suggesting that some of the newly won customers go with private jets for the ease and speed of departure. have become accustomed to.
pascal fabreAn aviation expert at Alix Partners Consultancy said the sector is not very sensitive to rising oil prices.
When you buy a plane “for several tens of millions of dollars”, he told AFP, “the fuel bill is not an issue.”
Amid the fear of catching Covid-19, the appeal of private jets has taken off since the start of the pandemic and widespread cancellations and stringent measures have turned flying commercial into a logistical headache.
“The impact of Covid has really forced people to look elsewhere for their travel needs,” said Philip Scalabriniwho heads the southern European division of the international private airline vistajet,
“Anyone who can afford it wants a complete aircraft at their disposal,” he told AFP, adding that “the last two years have seen an incredible increase in demand for private aviation.”
Air traffic regulator Eurocontrol’s numbers confirm this.
It found that private air travel nearly doubled its global market share between 2019 and 2021, when it stood at 12 percent.
Standing inside the newest addition to VistaJet’s fleet, the Global 7500 built by Canadian business jet maker Bombardier, Scalabrini demonstrated what air travel could look like in that particular market.
On the $72 million (65 million euro) luxury plane, customers can enjoy plush cream-colored leather chairs, a large double bed and wine tasting.
To limit jet lag, cabin pressure can be controlled better than on commercial flights, allowing customers to sleep “as soundly as in their cabin in Saint-Moritz”, chic alpine ski resort, Scalabrini said.
And their pets can also travel in luxury with toys and treats on demand.
With annual contracts starting at 500,000 euros ($550,000), Vistajet’s target audience includes wealthy individuals and business leaders, with an increasing number from the tech sector.
“Obviously we see the growth of clients following the macro-trends we see in the world,” Scalabrini said.
More than anything, the pandemic has driven the latest surge in demand.
Scalabrini said last year the “Covid effect” helped VistaJet increase the number of flight hours by 90 percent.
And the company founded in 2004 by Swiss billionaire Thomas Flohr last month announced the purchase of Air Hamburg, in a move it said would help increase its flight hours by 30 percent.
The announcement, however, came just three days before Russia launched its full-scale invasion of Ukraine and Western countries launched a series of harsh sanctions, triggering panic in markets and raising oil prices.
Scalabrini said it was “a little early” to determine how the crisis would affect his company.
“At the moment we can’t fly to Russia, we can’t fly to Ukraine unfortunately, so obviously there is an impact, but it’s a minimal impact,” he said, adding that Russian customers account for five of Vistajet’s business. made up less than a percent.
“We have customers all over the world.”
While private jet companies may currently face crises affecting commercial aviation, they face similar outrage over the outsized contribution of air travel to climate change.
According to the Transport and Environment NGO, flying a private jet pollutes 10 times more than a commercial flight.
Environmental questions will be one of the biggest challenges facing commercial air travel in the long run, Philipp BerlandAn air transport expert at the Sia Partners consulting firm told AFP.
However, in the short term, he said the immediate question would be how the sector absorbs rising oil prices, and also whether private jet companies can hold on to the customers they gained during the pandemic as commercial flights become normal.
“In this region, where one-hour flight times are already very expensive, price is not the only factor,” Berland said, suggesting that some of the newly won customers go with private jets for the ease and speed of departure. have become accustomed to.
pascal fabreAn aviation expert at Alix Partners Consultancy said the sector is not very sensitive to rising oil prices.
When you buy a plane “for several tens of millions of dollars”, he told AFP, “the fuel bill is not an issue.”