As the American economy slowly begins to stabilize, leaders in the corporate world are gravitating towards private jet travel once again. Elevated confidence concerning respective company values seem to be coaxing executives to recognize private jet charter as a comfortable risk. Chartering a private aircraft is the quintessential choice in today’s market. The other two options would be sustaining a corporate fleet, or flying commercially. Maintaining a corporate fleet is seen as a liability; costs run very high. This has caused executives to shirk away from signing off on a payment that is extravagant and unnecessary. Airline travel on the other hand, dodges the price factor, but runs right into other issues. Airlines can produce delays, lost luggage, etc., all of which are taxing. Private jet travel is the happy medium being yearned for.
This has clearly been validated within the past year, total business jet flights, privately owned and charter, rose 7 percent to 2.84 million in the 12-month period through September. A significant amount of the growth was through overseas travel, according to data tracked by the Federal Aviation Administration FAA.L. A prime example of the recent boom of private jet travel has been executed this month by General Motors. The company which was recently floundering returned to chartering jets this month when visiting investor’s. This development succeeds the 2008 occurrence when GM, Ford Motor Co, and Chrysler Group were reprimanded for corporate jet use. With the economy crumbling, lawmakers were provoked to question the acceptability of private jet travel. This concern is a moot point now that companies are reveling in financial success once again. It is fair to say that private jet charter has found its niche in today’s market.