Private jets : the trend

Private Jets : The Trend

Until a decade ago, Private Jets were the domain of millionaires and celebrities and of course, Senior Executives flying in Company owned jets. Commercial airlines were doing very well until the bogie of “terrorism” appeared on the scene. The trend changed.

Airliners were hijacked by terrorists and flown to unfriendly countries; bombs were set off at airports, and unclaimed baggage containing bombs destroyed airliners in mid-air. Week after week, month after month, we heard the shocking news of one or the other form of terrorism aimed at commercial airliners worldwide. The last straw was the September 11 incident ending the lives of thousands of innocent people.

Airline business took a nosedive; in fact hundreds of airliners were grounded and several smaller companies folded up. There was one word in everyone’s mind: Security. Security at all airports was beefed up with the result it was not a pleasure any more flying from place to place. In most cases, the security check took more time than the actual flying! Many people were inadvertently harassed due to suspicion on the part of the Security personnel. For people who could afford it, Private Jets was the only alternative.

With more and more people looking for alternate modes of transport, the demand for Private Jets increased, evincing the interest of keen entrepreneurs who founded new companies and acquired aircrafts to meet the demand. With so many players, competition was the key to success of these entrepreneurs. The competition was not just with the airfare, but it was diffused to better facilities, more comfort and safety, better timekeeping, latest hardware and so on.

The cost of hiring a Private Jet which used to be around $6,000 per hour dropped to $4,000 or less in a matter of months when the demand for Private Jets increased by about 150% after the September 11 incident. Such fare cuts were possible only because of the huge demand resulting in higher turnover.

The “Fortune 500″ and other multinational firms who used to hire Private Jets only for their top Executives considered the advantages of letting the other officials of the company use Private Jets which resulted in useful work being done more efficiently in lesser time.

Different cost effective schemes were worked out to woo the customers, with the result Flying by Private Jets became more affordable to a larger clientele.

All but the casual and the one time fliers started looking at the possibilities of Private Jet flight.

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