“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Flight Safety Is Improving
While business aircraft flight hours are down from last year, industry safety has increased disproportionately, according to business aviation safety analyst Robert E. Breiling Associates. In the first half of the year, the U.S. business airplane fleet experienced 13 accidents, down from 34 in the same period last year, a 62-percent drop. Fatal accidents declined from 10 in the first six months of last year to three in the first half of 2009.