Rather quickly in America private jet flight is no longer an option for only the wealthiest. As companies begin to capitalize on luxury aircrafts and empty legs, more people are gaining access to flying in style. The private jet industry grew 24 percent during 2014 and is continuing it’s upward trajectory. We found five trends that are helping sustain the private jet industry’s growth.
Honda Offers First Luxury Private Jet
World famous and renown for efficient engineering, Japan’s Honda Corporation has entered the private jet market. With a price tag of $4.5 million, they are providing the aviation world with their entry-level model, the HondaJet. It is produced in North Carolina and the company has already received hundreds of orders that it will deliver at the end of the year. The HondaJet has a revolutionary design that places the turbofans on top of the wing in order to reduce cabin noise. Honda currently has the six-passenger jet on a world tour to show off their first offering.
Delta Lets You Upgrade to a Private Jet
Delta recently announced a new upgrade option that allows frequent flyer members in their SkyMiles Medallion program to fly on their private jets. Delta Private Jets is the country’s fourth largest provider of private air travel and they have decided to fill empty seats that are repositioning flights. The company knows the schedules of their repositioning flights and are offering those available seats as an upgrade option Medallion members can purchase. The upgraded seat will only cost $300 to $800 and is something that Delta’s competition cannot offer because no other major airline has a fleet of private jets.
Unlimited Private Jet Travel is Now a Monthly Membership Option
Most monthly prescriptions you belong to involve streaming television services or your monthly cell phone bill, but now with Private Air you can fly all you want by purchasing a membership fee. The Miami, Florida based airline offers unlimited flight between major Florida cities for a $950 monthly membership. They also provide a New York to Miami package with a much heftier price tag of $9,900 a month.
A Decade of Growth Forecasted for the Private Jet Industry
The private jet industry is showing no signs of slowing down. Manufacturers of fine air travel are projecting North America to take delivery of over 4,000 aircraft valued at over $120 billion in the next 10 years. Forecasters have viewed America’s economic growth and stability as the reason for increased orders. Industry insiders have also pointed to various company’s beginning to capitalize on empty leg flights as another indicator for production growth.
India Utilizes Technology to Create a Private Jet Industry
Innovation in the private jet industry isn’t just growing in America, in India JetSetGo has utilized technology to connect the country’s fleet of 680 business aircraft. This company gives access to luxury flights, but also uses their access to flights for medical evacuations and air ambulances. There are still many hurdles before India can grow in the private jet industry, the country doesn’t technically know how many airstrips it has, and even though JetSetGo operates through mobile devices, all aviation movements in India are required to be in writing regardless of technological advances.
Private Jets Everyone Can Afford
No longer do you have to worry about the endless lines at TSA or struggling to get overhead space for your carry-on. Growth in production and access to affordable upgrades now allow everyone to enjoy the private jet life. There are also plenty of investment opportunities for private jet aficionados. The private jet lifestyle is now a luxury afforded to everyone.
Contact Avion Insurance today for your private jet insurance needs!