New Post

Fall in Demand of

Global Private Jet Charter

Why global business aviation flying in October fell 0.6 percent year-over-year

There are a few possible reasons why global business aviation flying in October fell 0.6 percent year-over-year, according to the newly released TraqPak data from Argus International.

• Economic uncertainty: The global economy is facing a number of challenges, including inflation, rising interest rates, and the ongoing war in Ukraine. This uncertainty may be leading businesses to reduce their travel budgets, including on business aviation.

• Resumption of commercial air service: Many airlines have resumed commercial air service on key routes that were suspended during the COVID-19 pandemic. This may be making business aviation less attractive for some travelers.

• Aircraft supply chain disruptions: The global aircraft supply chain has been disrupted by the COVID-19 pandemic and other factors. This has made it more difficult for business aviation operators to obtain new aircraft and parts.

Why European business aviation flying fell 7.2 percent year-over-year

The European business aviation market was hit particularly hard in October, with flight activity down 7.2 percent from the year before. This may be due to a number of factors, including:

• The war in Ukraine: The war in Ukraine has created significant uncertainty and instability in Europe. This may be leading businesses to reduce their travel to the region, including on business aviation.

• The weaker euro: The euro has weakened significantly against the US dollar in recent months. This makes European business aviation more expensive for travelers from outside the region.

• The ongoing COVID-19 pandemic: The COVID-19 pandemic is still a major concern in Europe. Some countries have imposed travel restrictions, which may be discouraging business travelers.

Why business aircraft flying increased by 20 percent YOY in the rest of the world

The business aviation market in the rest of the world, particularly in South America, Asia, Australia, and Africa, saw strong growth in October. This may be due to a number of factors, including:

• Economic growth: Many countries in these regions are experiencing strong economic growth. This is leading to increased business activity and travel.

• Rising incomes: Rising incomes in these regions are also driving demand for business aviation.

• Improved infrastructure: Many countries in these regions have been investing in improving their airport infrastructure. This is making it easier and more convenient for business travelers to fly to and from these regions.

Overall, the outlook for the global business aviation market is mixed. On the one hand, economic uncertainty and the war in Ukraine are creating challenges for the industry. On the other hand, strong economic growth and rising incomes in many parts of the world are driving demand for business aviation.

Boom in the USA of Entrepreneurs

Becoming Pilots Buying Their Own Planes

In recent years, there has been a noticeable increase in the number of business people in the United States who are training to become pilots and buying their own planes. This trend is being driven by a number of factors, including:

• The convenience of business aviation: Owning a plane can save business travelers a significant amount of time and hassle. Pilots can fly directly to their destination, avoiding the need to go through airport security and deal with flight delays and cancellations.

• The increasing affordability of private aircraft: The cost of private planes has come down in recent years, making them more accessible to business people. There are now a number of different types of planes available, ranging from small,single-engine piston planes to larger, multi-engine jets.

• The desire for greater control over business travel: By owning their own planes, especially after Covid lockdowns. Entrepreneurs have greater control over their travel schedules and itineraries. They can fly when and where they want, without having to rely on commercial airlines.

•  

The increase in the number of business pilots and plane owners is having a positive impact on the aviation industry. It is creating jobs for pilots, aircraft mechanics, and other aviation professionals. It is also stimulating the development of new aircraft technologies and services.

Here are some of the benefits of business people training to become pilots and buying their own planes:

• Increased productivity: Business pilots can save a significant amount of time by flying directly to their destinations. This can free up more time for them to work and be productive.

• Reduced stress: Business aviation can help to reduce the stress of travel. Pilots can avoid the long lines and delays at airports, and they can travel on their own schedule.

• Greater flexibility: Business pilots have greater flexibility over their travel plans. They can fly to smaller airports that are not served by commercial airlines, and they can change their itineraries at the last minute.

• Enhanced image: Owning a private plane can enhance a business person's image. It can show that they are successful and ambitious.

•  

Of course, there are also some challenges associated with owning a private plane. The cost of maintenance and insurance can be high, and pilots need to have the time and discipline to complete regular training flights. However, for many business people, the benefits of owning a plane outweigh the challenges.

The trend of entrepreneurs training to become pilots and buying their own planes is expected to continue in the coming years. As the economy grows and more business people become aware of the benefits of business aviation, the demand for private aircraft is likely to increase.

Check out our latest video on the dangers of private jet travel:

For more information Email us on [email protected]

Regards,

Fabrizio Poli

Founder

Biz Jet TV