There has been a ‘dramatic’ increase in the number of clients buying a private jet for the first time this year, according to London-based Colibri Aircraft.
The company, which specialises in the marketing, resale and purchase of pre-owned private aircraft, highlighted that 21 percent of the pre-owned aircraft it has sold this year have gone to first time buyers. This represents a 50 percent increase on 2014. The average price of a jet it has sold to a first time buyer in 2017 is $3.68 million.
Colibri Aircraft attributes the growing number of first time buyers to the rapidly increasing number of high net worth individuals, the falling price of jets across all segments, and the increase in people chartering private jets for the first time and then deciding they want their own aircraft instead.
Last month was the busiest August in history for business aviation activity in Europe. There was 78,785 departures, a rise of 5.5 percent year on year. By August 2017, London had experienced a 9.3 percent year-on-year increase in business aircraft departures.
Managing director at Colibri Aircraft, Oliver Stone, commented: “There is a rapidly increasing number of high net worth and ultra-high net worth individuals, and this means a bigger base of potential private jet owners.
“In Europe, there are around 3.94 million millionaires and this is set to increase by 11 percent to 4.36 million by 2016.”
He added: “All of this is leading to more people chartering private jets and for some of those that do this, they eventually decide they want to own their own aircraft.”