What Is Behind the Business Aviation Market’s Success?
Affordability of Business Jets
While flying aboard a business jet is a niche market, it is creeping down the income scales and becoming more accessible. No longer does one have to buy a multi-million-dollar airplane to have the business jet experience. Fractional ownership allows for the purchase of a share of a plane and a set number of corresponding flight hours per year. NetJets and Flexjet in the United States, and AirSprint in Canada, all offer aircraft fractional ownership opportunities in North America.
Chartering a business plane is another option. In Canada there are numerous aviation management companies that manage their client’s aircraft, and also possess the ability to charter these aircraft out to the general public. These charter service providers can allow individuals to access the business jet experience for a price that is often comparable to commercial first-class class tickets. Fractional and charter flights made up an unprecedented majority of North America private flight hours in 2022, overtaking flights for the benefit of aircraft owners.
New fractional ownership and charter opportunities across North America are bringing business aviation to the general public, and as long as health concerns remain top of mind and airport chaos rages, flying with business aviation will increasingly become an alluring and easy to rationalize alternative to commercial aviation.