Super-rich fuelling growing demand for private jets, report finds

Super-rich fuelling growing demand for private jets, report finds

Business

Honeywell Aerospace, a leading aviation firm in the world, has forecasted that in the coming ten years, multinational companies will buy around 8,000 new private jets. Besides, the aviation firm also informed that each jet will burn 40 times as much carbon as commercial flights.

In 2019, around 690 new jets are anticipated to start operating. This is 9 percent more than the 2018’s total jet numbers. The wealthy individuals and businesses are now investing their money to buy new private jets produced by world’s three leading jet manufacturers. This acts as a primary factor behind the increasing demand for private jets.

Even though the carbon level is increasing, no downfall has been detected in the demand for private jets. As per the latest report, about one fifth of the jets are believed to be bought by celebrities and richest members. They will use jets to travel to desirable locations from their home. Besides, big companies or corporate will use the private jets for executives’ transportation. Currently, around 4,600 private jets are operation across the globe.

Senior marketing analysis manager at Honeywell Aerospace, Gaetan Handfield said that launching of new models by the leading jet producers along with clean streamline design is expected to trigger the demand for such jets around the world.

mm
James Thomson

James founded Voo Times with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. He is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the business industry, James also contributes his knowledge for the business section of the website.

Leave a Reply

Your email address will not be published. Required fields are marked *