Back to school … and to the sky
Many of us have seen dramatic changes in our working lives during the pandemic and now have to grapple with what office life might be like now that vaccines get us out of our homes. Where would we prefer to work from? Home? Or an office? Maybe a mixture of the two?
Or maybe from 50,000 feet? Demand for private jets is on the rise, fueled by pandemic travel restrictions, with this article noting that while some use the plane for occasional travel, “others are flying 400 or 500 hours a year, using it as their office. They see a private jet as a necessity. Considering the events of the past eighteen months or so, it’s easy to see the allure of a flight desk, but there is a range of ongoing costs to consider that not everyone anticipates when planning to fly. purchase of an aircraft.
The article gives a helpful summary of these costs and the available ownership options, which could be useful for those considering a higher office space this year as we wrap up the summer and go back to “school.” We frequently assist customers with the purchase and management arrangements of their private planes, and in addition to regular sales and funded purchases, we’ve recently been involved in some post-COVID reconfigurations, including helping HNWIs trade planes existing models and to acquire new models. more suited to longer or more frequent flights, working on reallocation of hours in timeshare programs for companies and making personal planes available to companies (in addition to advising on financing a new aircraft supported by EXIM and AFIC). We would love to use this experience to help you find a solution that’s right for you.
The growth in demand for private jets has skyrocketed and there are indications that many former first-class and business passengers are adopting them. Aviation industry market research firm WingX reports that global business aviation activity for the first half of 2021 is up 42% from same period last year, up from an increase less than 10% for regular airlines. In addition, it is gaining momentum, with record business aviation activity worldwide in June, up 10% from the pre-pandemic peak of June 2019. Likewise, FlyEliteJets has reported a 150% increase in bookings since the Covid-19 outbreak, despite disruption caused by measures such as border closures and quarantine requirements.
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