Private jet demand is booming — to the extent that companies can't produce them quickly enough and buyers are facing extended wait periods for deliveries."If you look at today compared to 2019, the market has almost exploded," John Schmidt, global aerospace and defense industry lead at consultancy Accenture, told CNBC at the Dubai Air Show.
Public listings by companies in the U.S. have already hit record highs in 2021. Data from Jefferies Equity Research shows that as IPO activity climbed, the volume of business jet deliveries rose in correlation with it. "The addressable market right now for business jets has expanded. The pie has gotten bigger," Friedrich said. "And the result is from continued wealth creation of over 12% when you take a look at the billionaires in the world, but also from what was traditionally Fortune 100 and large private companies.
Private jet charter company VistaJet reported a 29% increase in new members over the past year, with 71% of new requests coming from passengers who did not regularly use private aviation before. A recent report by the European campaign group Transport & Environment found that private jets are 5 to 14 times more polluting per passenger than commercial planes and that in one hour, a single private jet can emit two tons of CO2. The group also found that in Europe alone, CO2 emissions from private jets increased by 31% between 2005 and 2019, outpacing the growth in commercial jet emissions.
That's because sustainable aviation fuels are expensive and difficult to obtain, said Accenture's Schmidt, although there are currently more than 20 locations globally where sustainable aviation fuels can be found. Private jet charter service NetJets in November celebrated a year of using SAF, having flown 2.5 million nautical miles on the cleaner fuel.
SPAM
But they are so concerned about climate change and are urging the common people to uproot their lives to combat it. SMH.
Insidious headline. Why not say: More people are getting rich…
Oh the trickle down
I am getting poorer and poorer and broke 🤷♂️
The rich are showing entitlement rather than carbon footprint reduction advocacy. Or are they climate change deniers? I believe there is some of both. Either way, their actions are furthering problematic climate change.
PJs are hot right now.
I'm sure this is relevant info to the 1%. I can guarantee you the rest of us could not give one single fuck less...
Many car companies hoping to make 'flying cars', isn't same idiology
Buy bombardier... 😍
We should institute a policy that allows them tax write offs as long as they only use public transportation and then see what happens
The same rich will ask the poor masses to cut back on consumption on their already meagre lives so we save the planet.
Probably the same ones who claim to advocate for 'saving' the planet while producings higher tons of CO2 per capita with their massive SUVs and private jets. They also tend to buy beachfront properties despite their claim that the sea levels are dangerously rising.
Yep those bast____ are consuming CO2 allocation. In other words they are STEALING from me, you, and future generations.
time to dust off the french revolution and teddys monopoly buster books
Yeah and they have the gol to point the finger 🙄 on climate change.
Good
rustyrockets
Flex
Color me stunned
Robert Frank just talked about a $400,000 dollar bottle of wine being sold. Don't think you can run an economy serving the rich (Ask Marie Antoinette). We should be taxing them to pay down our 30 trillion debt. Instead, it's let them eat cake and drive a private jet.
Unvaccinated people are forced to fly private.
In part because of the rules of money - if multiples like flocks of the field, but also in part because of cronies in government.
If they can fuel a boom for private jets, they can absorb a tax hike without pouting like a 2 year old or bribing lawmakers.
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