Aviation news analysis
50 SKY SHADES - World aviation news

GlobeAir enjoys strong growth as European private jet market downsizes

Download: Printable PDF Date: 22 Jun 2016 14:35 category:
Publisher:
GlobeAir enjoys strong growth as European private jet market downsizes - Business aviation publisher
Krista Kuznecova
Country: Austria Aircraft: Airplanes

GlobeAir has revealed that it operated 1,066 revenue flights in the first quarter of this year, 6.4% higher than the same period in 2015.

Across the year the company operated 5,849 revenue departures from European airports, 11.7% higher than in 2014.

The company says its growth is largely down to more people who use private jets in Europe downsizing the size of aircraft they charter because of the current challenging economic environment. Growth is also being fuelled by an increasing number of private jet owners selling their aircraft and opting to charter instead.

GlobeAir anlaysis of industry data reveals that year-to-date, departures of very light jets across Europe are up 5%, and year-on-year they are 7.3% higher. The corresponding figures for mid-sized jets for example, are -13.4% and -15.1%.

In Europe, there are around 526 business aircraft for sale, equating to 12.7% of the  fleet, which is high making it a buyer’s market.

“There is a clear trend for downsizing in the European business aviation market, and this has led to an increase in demand for small-cabin aircraft.”

Bernhard Fragner, CEO of GlobeAir said: “There is a clear trend for downsizing in the European business aviation market, and this has led to an increase in demand for small-cabin aircraft.”

“This has supported our strong growth. Last year, our fleet saw an 11.7% increase in revenue flights across Europe when compared to 2014. Our revenue for 2015 was €18.6 million, and this year we expect it to be nearer €23 million. We believe that demand for smaller private jets will continue, and we are planning to add to our fleet of 14 Citation Mustangs this year and in 2017,” added Fragner.



Loading comments for GlobeAir enjoys strong growth as European private jet market downsizes...


Recommended

Norwegian’s father and son pilots fly the Dreamliner to New York ahead of Father's Day

Captain and 27-year old co-pilot son fly from London Gatwick to New York to mark Father’s Day Norwegian mark’s Father’s Day by operating a Boeing 787 Dreamliner flight from L...

Airbus signs contract for HERON TP drones with the German Armed Forces

Covers provision of drone systems as well as all operational services Contractual model is based on the successful Heron 1 contract  Includes five reconnaissance drone systems capable of c...

Andy King from FLYT - ‘Best Start-Up’ at Sapphire Pegasus Business Aviation Awards

EBACE 2018 was the moment to discover some new companies and new people in business aviation. I would love to share one of them: Andy King from FLYT, awarded as "Best Start-Up" by Sapphire P...

Prague Airport opened a new Centralized Security Checkpoint area in Terminal 2

Prague Airport brought new Centralized Security Checkpoint area in Terminal 2 into full operation. All passengers flying to Schengen Area countries will have to go through the new security checkp...