Many of us dream about flying on a private jet and it’s easy to understand the appeal. While the rest of us battle cancelled flights and airline closures, private flyers enjoy a peaceful and luxurious space, land at more convenient airports, depart at a time that suits their schedule and avoid two-hour waits after check-in.
For the majority of people, chartering a private jet is still just that: a dream. However, the private aviation industry is beginning to change, so much so that more of us could soon be private jet hopping with the likes of Fly Victor – time for us regular flyers to join the ranks of celebrities, royalty and wealthy CEOs.
Right now, you are probably asking yourself: Is this actually realistic? Is it really affordable? The good news is that chartering a private jet may be cheaper and simpler than you think. Why is this? Could you soon forgo a crowded, commercial airliner and upgrade to a private jet?
In terms of affordability, one of the biggest factors is the increase in competition in the private aviation industry. The number of customers now flying via private jet has increased exponentially in recent years – for example, according to Business Insider, a rise in passengers has led to a 535% increase in Hong Kong’s private jet fleets. This increase in usage has resulted in more competitive prices, allowing more flyers to charter private jets.
In addition to more competition, the aviation industry has begun to adopt new business models. A selection of companies are now offering monthly all-you-can-fly bundles or contract subscription services, whereby users can fly as many times as they want for a set fee. This has made private jet charter more accessible for frequent flyers.
Empty Leg Flights
Many private jets must make a return journey to their original destination, but if the return flight has not been booked, it is known as an empty leg. Flying without passengers reduces profit margins and so, in a bid to secure flyers, companies often offer heavily reduced prices for chartering an empty leg flight, making it more affordable.
In addition to chartering a private flight, some companies also offer individual seats. If travelling as a group, chartering a flight can be good value for money when splitting the cost evenly between all passengers. While chartering an entire flight is not an option for the majority of people, individual seats can be more wallet-friendly.
While the private travel industry still has some way to go in terms of affordability, it is becoming cheaper to charter a private jet. Furthermore, the luxury and time saved also make this method of travel much more appealing.