The rich are getting richer-this is driving the prosperity of private jets

Read Time:1 Minute, 19 Second


The demand for private jets is so strong that aircraft manufacturers cannot keep up. Even second-hand airplanes are disappearing from the market.

The demand for private jets is so strong that aircraft manufacturers cannot keep up. Even second-hand airplanes are disappearing from the market.

As more and more companies went public and the stock market hit record highs, wealth surged, especially among those who were already wealthy. Analysts say that many newly listed companies are buying their first business jets.

In the United States, the takeoff and landing of business jets increased by 40% year-on-year. They are at the highest point before the 2008 financial crisis, partly because large companies have expanded the private jet privileges of their executives.

But the market is also attracting individuals, whether they are executives, startup founders or lucky cryptocurrency investors, their first investors are looking for high-priced new toys.

“The demand in this industry really exceeds the scale. I have worked in this industry for 23 years and I have never seen anything like this before,” VistaJet’s Chief Commercial Officer Ian Moore told CNBC.

With the tightening of global supply chains, the demand for private air travel has grown so fast that some customers are turning to the used aircraft market.

Even so, the supply of second-hand private jets is close to historical lows.

Watch the video above to learn more about the causes of the shortage of private jets.


If you want to know more about business please go to https://updatednews24.com/category/business/

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