Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the worlds richest people are spending more freely again.
Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again.
The number of business flights – which includes celebrity, state and business hire – grew 5.5 per cent last year, in both European and US airspace, according to figures from Eurocontrol, the air traffic management co-ordinator, and Argos International, an aviation market research company.
While private take-offs have not yet returned to 2007 levels, a 9 per cent surge in Europe so far this year – compared with January in 2010 – suggests luxury flying is coming back into fashion.
Trips on private jets took off in the pre-crunch years, as executives and self-made millionaires were swayed by flexible schedules, lack of baggage and security restrictions, and departure lounges uncluttered by economy-class travellers.
To read the full story, visit ft.com