“[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.”
Private Jets Ready for Takeoff
You know the economy is improving when private jets return to the skies. And that's exactly what is happening now. Encouraged by rising profits and the diminished likelihood of a double-dip recession, some corporations and high-net-worth highfliers who had idled their jets through the downturn are venturing back into business aviation. The broadening economic recovery is giving many publicly traded companies all the reason they need to pull their jets out of their hangars and start flying again. The great deals that can be had on used jets, meanwhile, are starting to entice buyers who had been waiting for the long-anticipated market bottom.