Why young billionaires are looking for bigger private jets than ever before

A private jet available via PrivateFly

Facebook: @PrivateFly

We may still be in the middle of a pandemic, but it seems that the super-rich are still investing in luxury aircraft, especially aircraft with engines large enough to enable them to travel transatlantic without the need for stopovers.

According to The Telegraph, there has been an increase in younger billionaires seeking larger, far-reaching ones private jets. Jetcraft Owner Jahid Fazal-Karim told the newspaper:

‘If you’re a technical entrepreneur or CEO who’s been successful at a young age, you’re more likely to buy a large jet because it fits your lifestyle and the global character of your business.’ He added: ‘You may have a home in Italy and an office in California, so you will need a long-haul flight to make a non-stop journey between the two.’

A cabin interior by Winch Design

Instagram: @winchdesign_wd

Private jetch charter company Aviation revealed that they had seen reservations of jets that could take groups of 10 or more double in the UK compared to this time last year and credit the rise down to the fact that while Europe has been beyond the borders of most travelers, remote destinations including The Maldives and the Caribbean were open to visitors seeking winter sun.

Luxaviation CEO George Galanopoulos told The Telegraph: ‘I expect that when UK and European locks are light, clients will go further afield, leading to an increase in the use of large cabin aircraft, which will allow greater movement in the cabin for families while they arrive, where they will go as quickly and safely as possible. ‘

Some private jet companies have also noticed that clients do not return from their Christmas holidays but stay at long-distance destinations during shutdowns. PrivateFlyCEO Adam Twidel said: ‘Although people are likely to travel less than before, they will try to make their trips count more, so they take longer trips once in a lifetime.’

A private jet available via PrivateFly

Facebook: @PrivateFly

While the trend for larger jets is showing an increase, the newspaper also reported that many of the private jet companies had also seen an increase in bookings for smaller aircraft, which were noticeably used by first-time charterers seeking luxury events during the pandemic.

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