The effect of the COVID-19 pandemic has had far-reaching consequences for many industries globally. For many of the businesses, it has been an uphill task recovering from the downturn in business occasioned by the pandemic.
However, compared to the commercial air industry, the trends in the private jet industry show comparatively positive effects. With the increased fear of contracting COVID-19, and since private jets allow travelling with minimal interaction with other people on the flight and in the airport, many influential people globally turned towards the use of private jets.
In its annual survey, an American advanced technology company, Honeywell International, noted that about two-thirds of business-jet operators plan to fly more hours next year than in 2021. Private jet shipments over the next decade are expected to total 7,400 at a value of $238bn, according to the survey by Honeywell. This is higher than last year’s prediction of 7,300 worth $235bn over 10 years.
About 25 years ago, an American aircraft company, PlaneSense, came up with a solution to this dilemma with a cost-effective fractional jet ownership programme.