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"•"}.lrv-a-icon-vertical-pipe{--a-icon-content: "|";padding-right:.25rem}.lrv-a-icon-after-arrow-top-left::before{position:absolute;content:"";display:block;width:1.5rem;height:1.5rem;left:13%;border:2px solid #000;border-right-color:rgba(0,0,0,0);border-bottom-color:rgba(0,0,0,0);transform:rotate(45deg);top:-0.75rem;background-color:#fff}.lrv-a-icon-after-arrow-top-right::before{position:absolute;content:"";display:block;width:1.5rem;height:1.5rem;right:13%;border:2px solid #000;border-right-color:rgba(0,0,0,0);border-bottom-color:rgba(0,0,0,0);transform:rotate(45deg);top:-0.75rem;background-color:#fff}.lrv-a-screen-reader-only{border:0;clip:rect(1px, 1px, 1px, 1px);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;word-wrap:normal}@media(max-width: 47.999rem){.lrv-a-screen-reader-only\@mobile-max{border:0;clip:rect(1px, 1px, 1px, 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48rem){.lrv-a-truncate-ellipsis-1line\@tablet-desktop-only{overflow:hidden;text-overflow:ellipsis;display:-webkit-box;-webkit-line-clamp:1;-webkit-box-orient:vertical}}@media(max-width: 47.999rem){.lrv-a-truncate-ellipsis-2line\@mobile-max{overflow:hidden;text-overflow:ellipsis;display:-webkit-box;-webkit-line-clamp:2;-webkit-box-orient:vertical}}.lrv-a-unstyle-button{border-width:0;background-color:rgba(0,0,0,0);font-family:inherit;font-size:inherit;line-height:inherit;text-align:inherit}.lrv-a-unstyle-link,.lrv-a-unstyle-link:hover,.lrv-a-unstyle-inner-links>a{color:currentColor;text-decoration:none}.lrv-a-unstyle-list{list-style-type:none;padding-left:0;margin-top:0;margin-bottom:0}.lrv-a-wrapper{max-width:78.75rem;max-width:var(--site-max-width, 78.75rem);margin-left:auto;margin-right:auto;padding-left:.5rem;padding-right:.5rem}@media(max-width: 47.999rem){.lrv-a-wrapper-100vw\@mobile-max{width:100vw;margin-left:calc(50% - 50vw)}}.a-crop-16x10{position:relative;padding-bottom:62.5%}.a-crop-16x10 img{position:absolute;width:100%;height:100%;object-fit:cover}.wp-block-image .lrv-a-crop-16x9 img{height:100%}@media(max-width: 47.999rem){.a-cols2\@mobile-max{--cols: 2}.a-cols2\@mobile-max>*{flex-basis:50%}}.lrv-u-background-attachment-fixed{background-attachment:fixed}.lrv-u-background-color-grey-light{background-color:#ccc;background-color:var(--background-color-grey-light, rgb(204, 204, 204))}.lrv-u-background-color-grey-lightest{background-color:#f7f7f7;background-color:var(--background-color-grey-lightest, rgb(247, 247, 247))}.lrv-u-background-color-brand-secondary-dark{background-color:#000;background-color:var(--background-color-brand-secondary-dark, rgb(0, 0, 0))}.lrv-u-background-color-brand-secondary-light{background-color:#000;background-color:var(--background-color-brand-secondary-light, rgb(0, 0, 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36))}.lrv-u-background-color-white{background-color:#fff;background-color:var(--background-color-white, rgb(255, 255, 255))}.lrv-u-background-color-brand-primary{background-color:#ec1c24;background-color:var(--background-color-brand-primary, rgb(236, 28, 36))}.lrv-u-background-color-grey-darkest{background-color:#323232;background-color:var(--background-color-grey-darkest, rgb(50, 50, 50))}.lrv-u-background-color-transparent{background-color:rgba(0, 0, 0, 0)}@media(min-width: 62.5rem){.lrv-u-background-color-grey-light\@desktop{background-color:#ccc;background-color:var(--background-color-grey-light, rgb(204, 204, 204))}}@media(min-width: 62.5rem){.lrv-u-background-color-grey-lightest\@desktop{background-color:#f7f7f7;background-color:var(--background-color-grey-lightest, rgb(247, 247, 247))}}@media(min-width: 62.5rem){.lrv-u-background-color-brand-secondary-dark\@desktop{background-color:#000;background-color:var(--background-color-brand-secondary-dark, rgb(0, 0, 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50))}}.lrv-u-background-position-50p{background-position:50%}.lrv-u-background-repeat-repeat{background-repeat:repeat}.lrv-u-background-size-cover{background-size:cover}.lrv-u-border-b-1{border-bottom-width:1px}.lrv-u-border-t-1{border-top-width:1px}.lrv-u-border-l-1{border-left-width:.0625rem}.lrv-u-border-r-1{border-right-width:.0625rem}.lrv-u-border-t-2{border-top-width:2px}.lrv-u-border-t-3{border-top-width:3px}.lrv-u-border-b-3{border-bottom-width:3px}.lrv-u-border-t-5{border-top-width:.3125rem}.lrv-u-border-a-1{border-width:1px}.lrv-u-border-a-2{border-width:.125rem}.lrv-u-border-a-3{border-width:3px}.lrv-u-border-a-0{border-width:0}.lrv-u-border-a-5{border-width:.3125rem}.lrv-u-border-t-6{border-top-width:.375rem}.lrv-u-border-b-6{border-bottom-width:.375rem}.lrv-u-border-r-6{border-right-width:.375rem}.lrv-u-border-r-2{border-right-width:.125rem}.lrv-u-border-b-2{border-bottom-width:.125rem}.lrv-u-border-l-2{border-left-width:.125rem}.lrv-u-border-collapse{border-collapse:collapse}@media(max-width: 47.999rem){.lrv-u-border-l-00\@mobile-max{border-left-width:0}}@media(min-width: 62.5rem){.lrv-u-border-a-1\@desktop{border-width:1px}}@media(max-width: 47.999rem){.lrv-u-border-a-1\@mobile-max{border-width:1px}.lrv-u-border-l-00\@mobile-max{border-left-width:0px}.lrv-u-border-r-00\@mobile-max{border-right-width:0px}.lrv-u-border-t-1\@mobile-max{border-top-width:1px}.lrv-u-border-b-00\@mobile-max{border-bottom-width:0px}.lrv-u-border-b-1\@mobile-max{border-bottom-width:1px}}@media(max-width: 47.999rem){.lrv-u-border-t-1\@mobile-max{border-top-width:1px}}@media(min-width: 62.5rem){.lrv-u-border-t-0\@desktop{border-top-width:0px}}@media(min-width: 62.5rem){.lrv-u-border-a-0\@desktop{border-width:0}.lrv-u-border-t-3\@desktop{border-top-width:3px}.lrv-u-border-b-3\@desktop{border-bottom-width:3px}}@media(min-width: 62.5rem){.lrv-u-border-l-1\@desktop{border-left-width:1px}}@media(min-width: 62.5rem){.lrv-u-border-r-1\@desktop{border-right-width:1px}}@media(min-width: 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48rem){.lrv-u-border-b-1\@tablet{border-bottom-width:.0625rem}}.lrv-u-border-t-20{border-top-width:1.25rem}.lrv-u-bottom-0{bottom:0}.lrv-u-align-items-center{align-items:center}.lrv-u-justify-content-center{justify-content:center}.lrv-u-justify-content-space-evenly{justify-content:space-evenly}.lrv-u-justify-content-space-between{justify-content:space-between}.lrv-u-align-items-start{align-items:flex-start}.lrv-u-justify-content-start{justify-content:flex-start}.lrv-u-justify-content-end{justify-content:flex-end}.lrv-u-align-items-end{align-items:flex-end}.lrv-u-align-items-stretch{align-items:stretch}.lrv-u-align-items-normal{align-items:normal}@media(min-width: 62.5rem){.lrv-u-align-items-center\@desktop{align-items:center}.lrv-u-justify-content-center\@desktop{justify-content:center}.lrv-u-justify-content-space-evenly\@desktop{justify-content:space-evenly}.lrv-u-justify-content-space-between\@desktop{justify-content:space-between}.lrv-u-align-items-start\@desktop{align-items:flex-start}.lrv-u-justify-content-start\@desktop{justify-content:flex-start}.lrv-u-justify-content-end\@desktop{justify-content:flex-end}.lrv-u-align-items-end\@desktop{align-items:flex-start}}@media(min-width: 48rem){.lrv-u-justify-content-center\@tablet{justify-content:center}}.lrv-u-color-brand-secondary{color:#000;color:var(--color-brand-secondary, rgb(0, 0, 0))}.lrv-u-color-black{color:#000;color:var(--color-black, rgb(0, 0, 0))}.lrv-u-color-brand-primary-light{color:#ec1c24;color:var(--color-brand-primary-light, rgb(236, 28, 36))}.lrv-u-color-brand-primary-dark{color:#ec1c24;color:var(--color-brand-primary-dark, rgb(236, 28, 36))}.lrv-u-color-white{color:#fff;color:var(--color-white, rgb(255, 255, 255))}.lrv-u-color-brand-primary{color:#ec1c24;color:var(--color-brand-primary, rgb(236, 28, 36))}.lrv-u-color-grey-light{color:#e6e6e6;color:var(--color-grey-light, rgb(230, 230, 230))}.lrv-u-color-brand-secondary-dark{color:#000;color:var(--color-brand-secondary-dark, rgb(0, 0, 0))}.lrv-u-color-brand-secondary-light{color:#000;color:var(--color-brand-secondary-light, rgb(0, 0, 0))}.lrv-u-color-grey-dark{color:#6a6a6a;color:var(--color-grey-dark, rgb(106, 106, 106))}.lrv-u-color-grey{color:#8c8c8c;color:var(--color-grey, rgb(140, 140, 140))}@media(min-width: 62.5rem){.lrv-u-color-brand-secondary\@desktop{color:#000;color:var(--color-brand-secondary, rgb(0, 0, 0))}}@media(min-width: 62.5rem){.lrv-u-color-black\@desktop{color:#000;color:var(--color-black, rgb(0, 0, 0))}}@media(min-width: 62.5rem){.lrv-u-color-brand-primary-light\@desktop{color:#ec1c24;color:var(--color-brand-primary-light, rgb(236, 28, 36))}}@media(min-width: 62.5rem){.lrv-u-color-brand-primary-dark\@desktop{color:#ec1c24;color:var(--color-brand-primary-dark, rgb(236, 28, 36))}}@media(min-width: 62.5rem){.lrv-u-color-white\@desktop{color:#fff;color:var(--color-white, rgb(255, 255, 255))}}@media(min-width: 62.5rem){.lrv-u-color-brand-primary\@desktop{color:#ec1c24;color:var(--color-brand-primary, rgb(236, 28, 36))}}@media(min-width: 62.5rem){.lrv-u-color-grey-light\@desktop{color:#e6e6e6;color:var(--color-grey-light, rgb(230, 230, 230))}}@media(min-width: 62.5rem){.lrv-u-color-brand-secondary-dark\@desktop{color:#000;color:var(--color-brand-secondary-dark, rgb(0, 0, 0))}}@media(min-width: 62.5rem){.lrv-u-color-brand-secondary-light\@desktop{color:#000;color:var(--color-brand-secondary-light, rgb(0, 0, 0))}}@media(min-width: 62.5rem){.lrv-u-color-grey-dark\@desktop{color:#6a6a6a;color:var(--color-grey-dark, rgb(106, 106, 106))}}@media(min-width: 62.5rem){.lrv-u-color-grey\@desktop{color:#8c8c8c;color:var(--color-grey, rgb(140, 140, 140))}}.lrv-u-display-block{display:block}.lrv-u-display-contents{display:contents}.lrv-u-display-inline{display:inline}.lrv-u-display-inline-block{display:inline-block}.lrv-u-display-none{display:none}.lrv-u-display-table{display:table}.lrv-u-display-inline-flex{display:inline-flex}@media(min-width: 62.5rem){.lrv-u-display-table\@desktop{display:table}.lrv-u-display-block\@desktop{display:block}.lrv-u-display-contents\@desktop{display:contents}.lrv-u-display-inline\@desktop{display:inline}.lrv-u-display-inline-block\@desktop{display:inline-block}.lrv-u-display-none\@desktop{display:none}.lrv-u-display-inline-flex\@desktop{display:inline-flex}}@media(min-width: 78.75rem){.lrv-u-display-none\@desktop-xl{display:none}.lrv-u-display-block\@desktop-xl{display:block}}@media(max-width: 47.999rem){.lrv-u-display-none\@mobile-max{display:none}}@media(max-width: 62.499rem){.lrv-u-display-none\:first-child\@desktop-max>*:first-child{display:none}}@media(max-width: 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This site is protected by reCAPTCHA Enterprise and the Google <a href="https://policies.google.com/privacy">Privacy Policy</a> and <a href="https://policies.google.com/terms">Terms of Service</a> apply.</p> </div> </div> </div> </nav> </header> <main role="main"> <div class="site-wrap__top-mobile-leaderboard"></div> <div class="rr-leaderboard-ad"></div>  <header class="post-header"> <div id="bread-crumb" class="site__bread-crumbs desktop clearfix"> <ul> <li class="post-header__category"> <a class="" href="https://robbreport.com/motors/"> Motors </a> </li> <li class="post-header__category"> <a class="bread-crumb-selected" href="https://robbreport.com/motors/aviation/"> <span class='square'></span>Aviation </a> </li> </ul> </div> <time class="breadcrumb-date" datetime="2024-11-21" itemprop="datePublished"> November 21, 2024</time> <h1 class="post-header__title">The Private-Jet World Is Optimistic About 2025, Despite a Post-Covid Slow-Down</h1> <h2 class="post-header__dek">Sentiment among industry insiders at the Corporate Jet Investor Miami conference was positive, despite ongoing industry challenges such as shortages in maintenance facilities and pilots. </h2> </header> <div class="container"> <div class="article-wrapper"> <article id="post-1235990528" class="post-1235990528 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation category-motors tag-aircraft-charters tag-business-aviation tag-flexjet tag-fractional-ownership tag-private-jets"> <div class="a-article-seo_dates a-screen-reader-only"> <time itemprop='dateModified' datetime="2024-11-24T13:10:57-05:00"> Modified on November 24, 2024 </time>, <time itemprop='datePublished' datetime="2024-11-21T10:00:00-05:00"> Published on November 21, 2024</time> </div> <div class="post-meta"> <span class="post-meta__author" aria-label="Author" itemprop="author" itemscope itemtype="https://schema.org/Person"> By <a href="https://robbreport.com/author/michael-verdon/"><span>Michael Verdon</span></a> <a href="https://robbreport.com/author/michael-verdon/"> <svg id="svg-icon-more" viewBox="0 0 15 15" xmlns="http://www.w3.org/2000/svg"><path d="M2.53 5.27H.74V.6h4.67v1.78H2.53v2.89zm10.34 7.45H9.98v1.79h4.67V9.84h-1.78v2.88zM9.98 2.38h2.89v2.89h1.78V.6H9.98v1.78zM2.53 9.84H.74v4.67h4.67v-1.79H2.53V9.84zM11 6.66H8.59V4.24H6.8v2.42H4.39v1.78H6.8v2.42h1.78V8.44H11V6.66z" fill="#000000" fill-rule="evenodd"/></svg> </a> <div class="c-byline__detail"> <div class="c-author"> <div class="c-author__details"> <div class="c-author__thumb"> <div style="background-image:url('https://robbreport.com/wp-content/uploads/2017/03/Michael_Verdon_Polilovi.jpg?w=77')"></div> </div> <div class="c-author__meta"> <h4 class="c-author__heading t-bold"> <a href="https://robbreport.com/author/michael-verdon/" rel="author" class="c-author__meta-link"> Michael Verdon </a> </h4> </div> </div> <h4 class="c-author__heading t-bold"> Michael Verdon's Most Recent Stories </h4> <ul class="c-author__posts t-semibold c-author-card__posts"> <li class="c-author__post"> <a href="https://robbreport.com/motors/aviation/private-jet-outlook-2025-1235990528/" class="c-author__meta-link c-author__meta-link--post"> The Private-Jet World Is Optimistic About 2025, Despite a Post-Covid Slow-Down </a> </li> <li class="c-author__post"> <a href="https://robbreport.com/motors/aviation/spaceship-neptune-flight-from-first-marine-spaceport-1235993273/" class="c-author__meta-link c-author__meta-link--post"> Forget Houston. 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668px) 1000px, (max-width: 668px) 660px, (max-width: 668px) 660px, (max-width: 480px) 480px" decoding="async" /><span class="c-image-credit c-image-credit--featured-image"> Getty Images/Science Photo Libra</span> </div> <div class="post-content"> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The private-jet world seems to be <a href="https://robbreport.com/motors/aviation/private-aviation-declining-newcomers-leaving-1234792248/" >leveling off</a> from its record highs during the Covid years. The fractional and jet-card segments are still above pre-Covid sales levels, while others such as used aircraft sales and on-demand charter have declined from giddy highs in 2021 and 2022. <div class="related"> <div class="related__inner"> <h3 class="related__heading">Related Stories</h3> <ul class="related__list"> <li class="related__item" data-index="1"> <span class="arrow"></span> <a target="_blank" href="https://robbreport.com/motors/cars/bentley-new-ceo-1236002245/"> ‘Comfort Is Too Generic’: Bentley’s New CEO Wants ‘Effortless,’ Driver-Focused Cars to Define the Marque </a> </li> <li class="related__item" data-index="2"> <span class="arrow"></span> <a target="_blank" href="https://robbreport.com/motors/aviation/warbird-aircraft-modernized-1235999468/"> These Vintage Warbirds Pair Modern Tech With Classic Flair </a> </li> <li class="related__item" data-index="3"> <span class="arrow"></span> <a target="_blank" href="https://robbreport.com/motors/cars/how-3d-printing-enhancing-hypercar-designs-1235999475/"> Why Bugatti, Czinger, and Other Marques Are 3-D Printing Their Hypercars </a> </li> </ul> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Sentiment for the near-term of <a href="https://robbreport.com/tag/business-aviation/" id="auto-tag_business-aviation" data-tag="business-aviation" >business aviation</a> was positive at last week’s <a href="https://www.corporatejetinvestor.com" rel="nofollow" target="_blank" >Corporate Jet Investor (CJI) </a>conference in Miami, in an industry known for its cyclical highs and lows. Aircraft company CEOs, jet-card executives, aviation attorneys, aircraft brokers, and private equity reps examined different sectors of the industry during three days of interviews and panel discussions. They agreed, with some exceptions, that <a href="https://robbreport.com/motors/aviation/private-jet-market-outlook-fall-2024-1235963576/" >the market remains strong</a>, following those unprecedented pandemic highs. <div class="admz " id="adm-inline-article-ad-1"> <div class="adma boomerang " data-device="Desktop" data-width="1"> <div style="min-width:50px;min-height:75px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="9" > <div id="gpt-dsk-tab-mid-article1-uid0" class=" adw-1 adh-1" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-dsk-tab-mid-article1-uid0' ) .setTargeting( 'pos', ["mid-article1","mid-article","mid"] ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros\/mid-article") .addSize([[2,2],[300,250],[620,350],[300,251],[620,366]]) .setClsOptimization("minsize") ; }); </script> </div> </div> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> “We’re happy as clams,” said Don Dwyer, a principal with Guardian Jet, a brokerage firm specializing in consulting and used aircraft sales. “We’re seeing an underlying optimism in people buying and selling aircraft. The market remains strong. This is our biggest year ever.” </p> <div class="post-content-image // "> <figure class="o-figure wp-block-image size-large alignnone lrv-u-max-width-100p" style="width:100%; max-width:1024px;"> <div class="c-lazy-image "> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://robbreport.com/wp-content/themes/pmc-robbreport-2017-v2/assets/public/lazyload-fallback.jpg" data-lazy-src="https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?w=300" alt="Business jet red carpet." data-lazy-srcset="https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg 1200w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?resize=150,84 150w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?resize=300,169 300w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?resize=1024,576 1024w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?resize=125,70 125w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?resize=681,383 681w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-85642743.jpg?resize=390,220 390w" data-lazy-sizes="(min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="576" width="1024" decoding="async"> </div> <figcaption class="c-figcaption lrv-u-font-size-12 lrv-u-line-height-normal lrv-u-flex lrv-u-flex-direction-column lrv-u-padding-tb-025"> <span class="lrv-u-font-size-14 lrv-u-line-height-normal">High-net worth clients have largely remained in business aviation since Covid, while the sector has also seen a return of corporate travelers. </span> <cite class="lrv-u-color-grey lrv-u-font-weight-normal">Getty Images</cite> </figcaption> </figure> </div> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The re-election of Donald Trump seems to have had an immediate beneficial impact. “Our market indicators have gone up 35 points since the election,” says Rollie Vincent, director of JetNet IQ, which tracks business aviation in industry surveys. “There are a lot of signs right now that things aren’t going to slow down, at least not for the short term—barring a black-swan event.”</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Business aviation is broken down across different categories, between new and used aircraft sales, <a href="https://robbreport.com/tag/fractional-ownership/" id="auto-tag_fractional-ownership" data-tag="fractional-ownership" >fractional ownership</a> (where a company or individual buys an ownership stake in a jet for three to five years), on-demand charter, and jet cards.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> “It’s nuts. We saw our spring being extended beyond its usual season and then summer was really busy,” says Alan Walsh, senior vice president of client management and operations for Sentient, a jet-card maker. He explains that the company expects to sell $100 million worth of flights by the end of the year, and expects a strong year next year, “barring any unforeseen larger issues.”</p> <div class="post-content-image // "> <figure class="o-figure wp-block-image size-full alignnone lrv-u-max-width-100p" style="width:100%; max-width:1000px;"> <div class="c-lazy-image "> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://robbreport.com/wp-content/themes/pmc-robbreport-2017-v2/assets/public/lazyload-fallback.jpg" data-lazy-src="https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp?w=300" alt="Flexjet headquarters" data-lazy-srcset="https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp 1000w, https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp?resize=150,84 150w, https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp?resize=300,169 300w, https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp?resize=125,70 125w, https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp?resize=681,383 681w, https://robbreport.com/wp-content/uploads/2024/11/1.-Flexjet-Global-HQ-Exterior-Rampside.jpg.webp?resize=390,220 390w" data-lazy-sizes="(min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="563" width="1000" decoding="async"> </div> <figcaption class="c-figcaption lrv-u-font-size-12 lrv-u-line-height-normal lrv-u-flex lrv-u-flex-direction-column lrv-u-padding-tb-025"> <span class="lrv-u-font-size-14 lrv-u-line-height-normal">Fractional ownership firms like <a href="https://robbreport.com/tag/flexjet/" id="auto-tag_flexjet" data-tag="flexjet" >Flexjet</a> are seeing growth and making investments in new aircraft and infrastructure. Flexjet’s new $50 million headquarters. </span> <cite class="lrv-u-color-grey lrv-u-font-weight-normal">Flexjet</cite> </figcaption> </figure> </div> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Sentient’s sister company, Flexjet, has seen its fractional business grow during the Covid years and beyond. The company reported an 11 percent year-to-date sales growth compared to last year, with a waiting list. <div class="admz " id="adm-inline-article-ad-2"> <div class="adma boomerang " data-device="Desktop" data-width="300"> <div style="min-width:300px;min-height:275px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10" > <div id="gpt-dsk-tab-mid-article2-uid1" class=" adw-300 adh-251" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-dsk-tab-mid-article2-uid1' ) .setTargeting( 'pos', ["mid-article2","btf","mid-article","mid"] ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros\/mid-article2") .addSize([[300,251],[620,350],[300,250],[620,366]]) .setClsOptimization("minsize") ; }); </script> </div> </div> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> For the entire fractional segment, including fractional’s largest firm, NetJets, Flexjet, and nearly a dozen smaller companies, the number of flights was up 59 percent in the second quarter of 2024, compared to the same quarter of pre-covid 2019. A mix of whole aircraft owners, now selling their jets and moving into fractional, charter users, and corporate flight departments are driving the increase.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> “Surprisingly, our fractional customer profile has gotten about 10 years younger,” said Kenn Ricci, the principal of Directional Aviation Capital, during the keynote address. “That’s a good thing because they’ll be with us longer. We’re also selling shares in four times as many mid- and super-mid aircraft than we do light jets. So, the jets are getting bigger. The other big change is our international growth.”</p> <div class="post-content-image // "> <figure class="o-figure wp-block-image size-large alignnone lrv-u-max-width-100p" style="width:100%; max-width:1024px;"> <div class="c-lazy-image "> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://robbreport.com/wp-content/themes/pmc-robbreport-2017-v2/assets/public/lazyload-fallback.jpg" data-lazy-src="https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?w=300" alt="Business jet in hangar." data-lazy-srcset="https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg 1200w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?resize=150,84 150w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?resize=300,169 300w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?resize=1024,576 1024w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?resize=125,70 125w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?resize=681,383 681w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-582758850.jpg?resize=390,220 390w" data-lazy-sizes="(min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="576" width="1024" decoding="async"> </div> <figcaption class="c-figcaption lrv-u-font-size-12 lrv-u-line-height-normal lrv-u-flex lrv-u-flex-direction-column lrv-u-padding-tb-025"> <span class="lrv-u-font-size-14 lrv-u-line-height-normal">Bizav’s weak links are shortages of repair facilities, technicians and spare parts. Some aircraft can be grounded for weeks. </span> <cite class="lrv-u-color-grey lrv-u-font-weight-normal">Getty Images</cite> </figcaption> </figure> </div> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The used-aircraft market, which softened after frenzied sales activity in 2021 and 2022, seems to be stabilizing in the second half of this year, according to Vincent. “Values are holding up higher and longer than we expected, and we expect values to increase in the fourth quarter of this year,” he said. Because of U.S. tax, the fourth quarter sees a surge of business jet sales.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> New business jet deliveries were valued at about $700 million this year, said Vincent, noting there is also a backlog of unbuilt, ordered aircraft valued at about $51 billion. “It’s enough for several years of production,” he said. “That leaves the aircraft manufacturers in good shape.”</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> On-demand charter is the only segment of the market that is softer, according to industry analyst ARGUS, which reported a 5.2 percent drop in total hours during the first half of 2024, compared to the first half of 2023. But the 14.7 percent decline from the 2022 high is even a better indicator in the decline of on-demand charter.</p> <div class="post-content-image // "> <figure class="o-figure wp-block-image size-large alignnone lrv-u-max-width-100p" style="width:100%; max-width:1024px;"> <div class="c-lazy-image "> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://robbreport.com/wp-content/themes/pmc-robbreport-2017-v2/assets/public/lazyload-fallback.jpg" data-lazy-src="https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?w=300" alt="Pilot entering a business jet" data-lazy-srcset="https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg 1200w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?resize=150,84 150w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?resize=300,169 300w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?resize=1024,576 1024w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?resize=125,70 125w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?resize=681,383 681w, https://robbreport.com/wp-content/uploads/2024/11/2.-GettyImages-158315417-1.jpg?resize=390,220 390w" data-lazy-sizes="(min-width: 87.5rem) 1000px, (min-width: 78.75rem) 681px, (min-width: 48rem) 450px, (max-width: 48rem) 250px" height="576" width="1024" decoding="async"> </div> <figcaption class="c-figcaption lrv-u-font-size-12 lrv-u-line-height-normal lrv-u-flex lrv-u-flex-direction-column lrv-u-padding-tb-025"> <span class="lrv-u-font-size-14 lrv-u-line-height-normal">An ongoing pilot shortage also continues to dog the industry, with many owners unable to find pilots to fly their jets. </span> <cite class="lrv-u-color-grey lrv-u-font-weight-normal">Getty Images</cite> </figcaption> </figure> </div> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The shortage of aircraft repair technicians, and not enough Maintenance, Repair, and Overhaul (MRO) centers, along with a continued supply-chain shortage of parts, is keeping many aircraft grounded for days, or even weeks. Ricci says a third of the Flexjet fleet is undergoing repairs at any given point. Most experts expect it to continue for several years. <div class="admz " id="adm-inline-article-ad-x-12"> <div class="adma boomerang " data-device="Desktop" data-width="300"> <div style="min-width:300px;min-height:275px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10" > <div id="gpt-dsk-tab-mid-articleX-uid2" class=" adw-300 adh-251" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-dsk-tab-mid-articleX-uid2' ) .setTargeting( 'pos', ["mid-article","mid-articleX","btf","mid"] ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros\/mid-articleX") .addSize([[300,251],[300,250],[620,366]]) .setClsOptimization("minsize") ; }); </script> </div> </div> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The conference also had panels focusing on new connectivity technologies for aircraft cabins, the use of AI toward pilot-less aircraft, and the FlyHouse app that promises a seamless, Uber-like experience for people who want to book on-demand charters. Jack Lambert, FlyHouse’s founder, said the app lets potential charterers initiate a “reverse auction” among multiple charter firms and gain the best price. “On the low end, we expect this to be a $3 to $5 billion market in five years,” he said.</p> <div class="related"> <div class="related__inner"> <h3 class="related__heading">Related Stories</h3> <ul class="related__list"> <li class="related__item" data-index="1"> <span class="arrow"></span> <a target="_blank" href="https://robbreport.com/motors/cars/bentley-new-ceo-1236002245/"> ‘Comfort Is Too Generic’: Bentley’s New CEO Wants ‘Effortless,’ Driver-Focused Cars to Define the Marque </a> </li> <li class="related__item" data-index="2"> <span class="arrow"></span> <a target="_blank" href="https://robbreport.com/motors/aviation/warbird-aircraft-modernized-1235999468/"> These Vintage Warbirds Pair Modern Tech With Classic Flair </a> </li> <li class="related__item" data-index="3"> <span class="arrow"></span> <a target="_blank" href="https://robbreport.com/motors/cars/how-3d-printing-enhancing-hypercar-designs-1235999475/"> Why Bugatti, Czinger, and Other Marques Are 3-D Printing Their Hypercars </a> </li> </ul> </div> </div> </div> <div class="tag-list"> <h3 class="tags-header">Read More On:</h3> <ul class="tag-list__list"> <li class="tag-list__tag"><a href="https://robbreport.com/tag/aircraft-charters/">Aircraft Charters</a></li><li class="tag-list__tag"><a href="https://robbreport.com/tag/business-aviation/">Business Aviation</a></li><li class="tag-list__tag"><a href="https://robbreport.com/tag/flexjet/">Flexjet</a></li><li class="tag-list__tag"><a href="https://robbreport.com/tag/fractional-ownership/">fractional ownership</a></li><li class="tag-list__tag"><a href="https://robbreport.com/tag/private-jets/">Private jets</a></li> </ul> </div> </article> <div class="newsletter-link"> <span>Like this article? 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