Jet business soars
November 21, 2011, 06:55 pm
Demand for luxury travel is continuing to increase despite the uncertain economic climate. Many consumers who are fortunate enough to have extra cash are investing in private aircrafts to make travel easier.
“A lot of our clients are very, very interested in purchasing their own aircraft,” Bob McGuire, Global Market Manager of Citi Private Bank, told the Globe and Mail. “We have people on staff that can advise them, depending on how much usage it’s going to get, on whether it should be new, used and what type of aircraft.”
The source reported that the demand is becoming so high that Citibank has started hiring ex-pilots to better serve the new customer demographic. Further, a private jet manufacturer that caters to celebrities in Hollywood has created 50 new jobs as part of its massive expansion strategy.
Gulfstream recently moved into a bigger 75,000-square-foot hangar at Luton Airport, making it the company's biggest hub outside of the United States. The expanded space will allow the company to accommodate more customers, get private jets in and out of maintenance and repairs faster, and increase space for new aircraft models the company is adding to its current offerings, Luton Today reported.
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