U.S Billionaires Are Powering The Recovery of the Global Private Jet Market

LONDON – More than a third of the wealthiest 500 billionaires are located in the US. According to an Airbus Corporate Jets analysis, this boosts the recovery of the private jet market in the country and across the world.

Airbus Corporate Jets analysis shows that 35% of the world’s 500 wealthiest billionaires built their wealth in the US, accounting for a total of 43% of the group’s wealth.

Sean McGeough, the Vice President of Commercial for Airbus Corporate Jets North America, said that “The number of billionaires in the US is a factor in the strength of the recovery in the global business aviation market, particularly in the US, where departures and the use of private jets are increasing.”

North American Business Jet Traffic in August 2022 was up by one percent compared to August 2021 and up by 13 percent compared to August 2019.

Overall the Business Jet Traffic in North America has been up by over 18% compared to last year, counting almost 2 million Business Jet flights.

In the first half of this year, the US has seen a rise in Business Jet Traffic of 23% compared to the first half of 2021.

While the US sees a steep incline in Business Jet Traffic, countries such as Canada and México still trail Pre pandemic activity.

Popular holiday destinations such as Puerto Rico, Costa Rica, and the US Virgin Islands saw an increase in Business Jet Flights by over 30 percent.

Across all of North America, the Bombardier Challenger 350 has been the busiest Jet this year, seeing an increase of over 17 percent compared to pre-pandemic levels.

This definitely shows that the demand for private jets is increasing drastically. While many people buy private jets, some only charter their planes. Private charter airlines, such as Vista Jet and NetJets, have been the winners of the pandemic, seeing a decent demand throughout the pandemic.

As demand is rising for Ultra Long Haul commercial air travel, it is also rising in Ultra Long Haul private air Travel.

Mr. McGeough said that “The ACJ TwoTwenty gives companies a real competitive advantage in attracting executives requiring their own space, which is particularly important given the growing role of senior executives in the global workforce.”

The ACJ 220 is a corporate jet version of Airbus’s A220 aircraft that is expected to enter service with Dubai-based company Five Hotels and Resorts next year.

The Airbus Corporate Jets A220, or short ACJ220, is expected to have space for up to 133 passengers and 2 crew. The aircraft will have a range of up to 5,650 nautical miles, with a flight time of up to 12 hours.

The aircraft is set to have key operating costs of < 1/3 compared to competitors.

Airbus’s newest ACJ will have a 40% less fuel burn and will feature a smart cabin, offering wifi, electro-chromatic window shades, and many more features

According to the plane maker, over 210 Airbus Corporate Jets are in service around the world.

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