is a series about businesses that have made dramatic turnarounds during the pandemic, in partnership with Slate’s Thrilling Tales of Modern Capitalism podcast.
Last spring, as the coronavirus accelerated its spread around the globe and schools and businesses shuttered, private jet companies saw a sudden flurry of activity. People who could afford it were scrambling to get home before lockdown orders went into effect. “You remember how crazy the commercial airports were
,” said Justin Crabbe, CEO of the plane-chattering platform Jettly. “So everybody was resorting to private.”And then: almost nothing. Just like the rest of the aviation sector, the private plane industry hit a wall shortly after the initial rush. From May to around December, Jettly’s business dove by about 40 percent, according to Crabbe.
Many Americans may not feel comfortable flying commercial, but some of those who would normally fly first or business class are willing to pay more to get on a small private jet and avoid close contact with other passengers. Many of them are elderly or have underlying health conditions. “I’ve been in aviation for 20 years, and I have never seen so many first-time flyers come in to work with Magellan,” Tivnan said.