The results of a new private jet travel survey published on 20 March 2020, show that most respondents were optimistic about both short- and long-term private jet travel. The survey was conducted from March 17 to 19, 2020 among individuals who traveled an average of 111 private jet flight hours in 2019. According to the survey, given the current health and economic crisis, 33% of respondents still expect private flying to increase compared to last year, with 30% believing flight hours are likely remain flat and 37% anticipating a decrease.
Key findings from the survey include:
77% of respondents said that reducing potential exposure to Coronavirus is the most likely reason that will influence private travel in the next six months
Respondents reported being most likely to use private aviation private aviation to either relocate family members as needed (46%) or visit a second home (45%) within the next 90-120 days
35% of respondents will still use private jet access for critical business trips
36% of respondents said they have made additional trips privately because of COVID-19, although 39% have also canceled trips
97% expect to take vacations this summer, even if plans end up changing
In addition to reducing COVID-19 exposure, relocating family and employees and attending necessary business meetings, several subscribers reported using private aviation solutions as a result of commercial airlines reducing flights.
General aviation is responsible for over 1.2 million jobs and $247 billion in economic input in the U.S. alone. Ultra-High Net Worth (UHNW) and High Net Worth (HNW) consumers are a critical segment for the travel market, with private jet users spending an average of over $80,000 dollars in the destinations they visit, excluding aviation and airport services.