HOT SEAT IN THE
Time equals money, and private jet operators claim to save business travellers both commodities, despite the perceived high price tags. Catherine Chetwynd explores the case for executive jets
PRIVATE jet travel is a topic that will elicit a sharp intake of breath from many budget holders, with the perceived sky- high costs ruling it out before figures are even mentioned. The global recession did not help the sector, of course, but evidence suggests it is now recovering and that an increasingly diverse range of companies are dipping a toe in the water. The industry today connects 103,000
city pairs in Europe, 96 per cent of which are not served regularly by scheduled air transport, according to the European Business Aviation Association (EBAA). That’s quite some network. But the recession took its toll and the
volume of traffic was recovering when it took a second hit from the sinking Russian economy. There were 51,000 flights in Europe in February 2015, down 4.4 per cent from February 2014, and 20 per cent down on 2008. Individual positions vary, however. “In
the last two years, things have started to turn around in Europe but the Russian and German markets are down,” says CEO of London Executive Aviation (LEA),
64 THE BUSINESS TRAVEL MAGAZINE
Patrick Margetson-Rushmore. “The arts, entertainment media and mineral sectors have been more resilient than the financial sector, which was strong before recession and is coming back.” Other sectors that get good use of
corporate jets include banks for IPO roadshows, rock groups for tours and, less glamorous, just-in-time freight and equipment support for oil, gas and automotive industries, for example. “Our cargo charters company has just
completed 80 B747 charters in support of a car company whose just-in-time supply line was disrupted,” says director of aviation for Hunt & Palmer, Neil Harvey. The arguments for using jet charter
stack up in time, money and efficiency. “Productivity is the key to all business aviation: it is the ability to adhere to impossible schedules, have the flexibility to change mid-schedule and gain access to places commercial airlines can’t take you,” says Marshall Aviation Services' James Dillon Godfray. “It is about acknowledging the value of the time lost by executives who are typically in control
of multimillion-dollar balance sheets.” Yet there is still an image problem
associated with executive jets in Europe that does not exist in the US. “The US is a meritocracy. Your value to society is effectively how much money you make and this removes the negativity towards success which is pervasive in Europe,” says Chapman Freeborn's Alex Berry. If there were any doubt as to the value,
one of LEA’s regular clients leaves around 4am to 4.30am for a morning meeting in Brussels once a month and is back at his desk by lunchtime. And use of corporate jets is not exclusive to large corporations – SMEs also charter aircraft, though more often for one-off requirements. Choice of aircraft type is a matter of horses for courses, though it is interesting to note the increasing use of long-range aircraft. “The main aircraft we are seeing here are Global Express and Gulfstream 5 and 6, the larger and largest end of the classic business aviation aircraft,” says TAG Farnborough Airport's Brandan O’Reilly. There has also been an increase in use of ultra-light jets such as the Citation
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