Private jet business booms despite commercial airline revival

The private jet use that surged in the coronavirus pandemic is showing no signs of abating, even as passengers return by the millions to commercial airlines and inflation raises the cost of a charter. Global flights on business aircraft rose by 10% in 2022 from the previous year and were 14% higher than before the pandemic in 2019, according to aviation data company WingX. Richard Koe, WingX’s chief executive, said demand for private jets had been “record-breaking” for the past two years. Bookings for private flights began to accelerate in 2020 as the wealthy and business travellers sought to avoid crowds and Covid-19 restrictions in place at airlines. Pilot shortages and cutbacks to services at smaller airports have also attracted private flyers. US private jet companies continued to report strong bookings last year. Flexjet said last month’s holiday season was the busiest in its history. EvoJets said bookings for the holidays began two months earlier than average, as flyers rushed to secure limited aircraft. “We have individual and corporate members that have fully transitioned to flying private due to reduced or limited commercial service,” said Kenny Dichter, chief executive of private jet charter Wheels Up. The company’s revenue was up 39% year on year, said Dichter. Demand remains strong despite rising costs and concerns about private planes’ far higher rates of carbon emissions per passenger than commercial aircraft or trains.<br/>