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Research reveals strong growth of European very light jet market

In the 12 months to March 2017, there was a 14.3% increase in very light jet departures in Europe compared to the previous 12 months.

Analysis of industry data(1) by GlobeAir, the leading air taxi operator in Europe with the world’s largest fleet of Citation Mustang jets, reveals that in the 12 months to the end of March  2017, there was a 14.3% increase in very light jet departures in Europe compared to the previous 12 months.  This compares to a decline for both heavy jets and mid-sized private jets where the corresponding figures are -0.8% and -10.6% respectively.

The number of flight hours in January, February and March 2017 for very light jets in Europe were up 21.4%, 14.5% and 14.8% respectively when compared to the same months last year.  The corresponding figures for heavy jets are -0.5%, -4% and 1.2% respectively, and for mid-sized aircraft they are 1.1%, 5.8% and -15.1% (2)

GlobeAir believes more people are deciding against buying or owning their own aircraft, and instead want to charter a private jet or take an air taxi instead.  In Europe, because of the short distances, very light jets are often ideal for this purpose, and also affordable

Jet ownership in Europe falls, fuelling demand for charter          
New research(1) from GlobeAir reveals that the number of business aircraft delivered to Europe has fallen dramatically in recent years.  Between 2007 and 2011, 1,123 business aircraft were delivered to Europe, but this fell by 30% for the period 2002 – 2016 when 788 were delivered.

In addition to this, 12% of Europe’s business aircraft fleet is currently up for sale (around 510 aircraft), which is a high percentage making it a buyers’ market.

Bernhard Fragner, CEO of GlobeAir comments: “Demand for business aviation is increasing but at the same time our research shows the number of people and organisations looking to own their own aircraft is falling.  People are increasingly waking up to the fact that in many cases it makes more sense to charter an aircraft or take a private jet ‘taxi’ instead, and avoid the huge financial cost and burden of owning your own jet.

“We are certainly benefiting for this trend, and we expect it to continue.”

GlobeAir’s fleet of Citation Mustang jets is able to connect to more than 1,500 airports around Europe and North Africa, including those with a short runway not accessible to commercial airlines. Travelers appreciate the advantages of being able to cover multiple business destinations in the same day, with a flexible departure time according to their own schedule.

(1) GlobeAir analysis of WINGX data, March 2017
(2) GlobeAir analysis of JETNET data, March 2017

Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network | Website

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.