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☆ Private jet flights are down 15% in two years as Covid-era demand wanes
  + stars: | 2024-08-16 | by ( Robert Frank | ) www.cnbc.com   time to read: +7 min
Private jet flights fell 15% in the first half of the year compared with their peak in 2022, as the industry grapples with waning demand and a new competitive landscape for high-end travel. Despite a short boost from the Summer Olympics, with a record 713 private jet flights to Paris the last week of July, the private jet industry continues to lose altitude this travel season. Jet It, a large U.S. private jet operator, shut down last year after grounding its fleet of Phenom 300s, Gulfstream G150s and HondaJets. Private jet passengers who paid six figures for flights started facing delays and cancellations as operators couldn’t buy or lease planes fast enough. “Prices are about 20% higher than they were in 2019,” Private Jet Card Comparisons' Gollan said.
Persons: Washington's, J, David Ake, Robert Frank, Covid, Rob Wiesenthal, George Mattson, VistaJet, Thomas Flohr, Doug Gollan, ”, Jay Duckson, —, ‘, I’m, Gollan, Travis Kuhn, “ It’s, ” Gollan, Berkshire Hathaway, ” Kuhn, “ Organizations: Gulfstream, Washington's Reagan National Airport, Getty, Private, Summer, Argus International, Blade Air Mobility, Delta Air Lines, CNBC, Industry, Central Business Jets, Companies, Jefferies, Argus, Berkshire Locations: Arlington , Virginia, Paris, U.S, Covid, Argus, “
☆ Where Goldman Sachs CEO David Solomon takes the corporate jet
  + stars: | 2023-04-24 | by ( Dakin Campbell | ) www.businessinsider.com   time to read: +15 min
"The Board fully supports the use of the Goldman Sachs planes for travel, just as it supported the use of private aircraft by previous Goldman Sachs executives," said Tony Fratto, a company spokesman. "Executives at Goldman Sachs have been flying on private aircrafts for decades as it is proven to be the most secure, effective, and cost-efficient solution to meet the extensive travel obligations for CEOs of firms like Goldman Sachs — which is why all of our peer institutions also extensively use private aircraft." John Waldron, president of Goldman Sachs Reuters/Brendan McDermidOccasionally, Solomon and Waldron switch planes, particularly when Waldron flies overseas. Goldman Sachs has a sponsorship deal with pro golfer Patrick Cantlay. "These estimates wildly overstate the cost of such flights to Goldman Sachs and are not an accurate representation," he said.
☆ People who fly private jets don't want to return to airlines. But it's costing them a lot more than it used to
  + stars: | 2022-11-15 | by ( Monica Pitrelli | ) www.cnbc.com   time to read: 1 min
Many travelers say those are the reasons they ditched airlines for private jets during the past two years of the pandemic. But a new survey shows most of the newly converted aren't ready to return to commercial aviation just yet. Some 94% of those new to the industry said they plan to continue flying privately in the future, according to a survey by the private aviation website Private Jet Card Comparisons. "Users have seen firsthand how private aviation can save time, both at the airport and by using more convenient alternative airports," said Doug Gollan, the website's editor-in-chief, in a press release announcing the results. However, respondents also indicated they may not be flying privately as frequently as they did before.
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