As we head into the second half of 2019, Kevin Macnaughton, Air Partner’s Managing Director, Charter, comments on the corporate flying trends it has observed across its Private Jets division in 2017, 2018 and 2019 to date.
“While it is certainly true that demand for private jets among corporates declined in the aftermath of the 2008 financial crash, in recent years we have seen appetite build back up in recognition of the efficiency and time-saving it affords organisations’ most senior executives.
In the last two years, our Private Jets division has seen highest demand from the Finance industry in relation to business flying, predominantly to financial centres within Europe. While companies in the finance sector remain one of the largest users of private jets, we have seen a slight decline in 2019 compared to 2017 and 2018. In contrast, we have seen increased flying from management consultancies and wealth management firms over the same period, with demand set to grow further by the end of the year.
With regard to other business sectors, since 2017 we have seen particularly strong year-on-year growth from Engineering, Food & Drink, Electronics, Manufacturing and Pharmaceuticals, and we expect to see these industries charter even more flights in 2019.
The reality is that there are often occasions when scheduled services simply cannot fulfil corporates’ requirements within the desired timeframe, and this is when air charter becomes a necessary business tool rather than a luxury. For example, a CEO looking to visit multiple European destinations within a short period for a multi-destination roadshow can fit in around four stops a day when not restricted to scheduled timetables, ensuring their time is being optimised.”
“For our corporate clients flying out of the UK, Switzerland is currently the most flown-to country for business trips, with Geneva and Zurich the most popular destinations in 2019 to date. Geneva, in particular, has seen a marked increase in popularity, moving from fourth place in 2017 to the top spot in both 2018 and 2019. We have also seen an increase in business flights to the Netherlands, with Amsterdam and Rotterdam climbing to third and sixth place in 2019, respectively.
Meanwhile, there has been a decline in demand for trips to Paris and Dublin among our corporate clients since 2017. Paris now sits at number five, after being the second most popular business destination in 2018 and the most popular in 2017. Following the 2016 Brexit referendum, Dublin jumped to number two, but has since dropped down to fourth place in both 2018 and 2019.”
Most frequented business destinations among Air Partner’s corporate clients:
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