Private jet firms buying new planes and hiring pilots during downturn - Business Insider

Private aviation firms are expanding as executives believe they're approaching the end of a V-shaped recovery.Private aviation is expanding with firms buying new aircraft and hiring more pilots during one of the worst downturns for aviation since the 2008 economic crisis.

"In March and April, we weren't really looking at the recovery as much as it was — how do we survive this downturn and position ourselves to be better and capture a market in the future?" Kevin Thomas, chief operating officer and president of XOJET Aviation, told Business Insider. Some operators are even having a better summer season this year than in 2019 as XOJET Aviation reported flying more hours this year than last.

"Our plan is a long-term plan and the opportunity in a soft market to add to the fleet in a cost-effective and intelligent manner, makes sense for us to do it right now," Thomas said.

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