Private jet business on the rise
April 17, 2012, 09:38 am
Private and business jet customers are growing in markets all over the world. Many consumers are realizing the benefits of having access to private, personalized travel arrangements, creating a demand for the services as well as pilots with pilot insurance to fly them to their various destinations.
The News Star reported Monroe Regional Airport officials are investing in new plans to capture new business through partnerships with private aviation firms. Interim airport manager Ron Phillips said the airport has put together a public-private partnership committee to develop a strategic plan to increase hangar space at the airport and add new amenities for general aviation pilots to boost revenue and traffic. Through the sale of aviation fuel from generation aviation pilots alone, the airport has collected more than $21,000 and expects to collect another $60,000 annually in hangar rental fees for general aviation aircrafts and equipment.
Clyde White, a general aviation pilot of 13 years, told The News Star that he has traveled all over the country and noticed services offered at Monroe airport for general aviation pilots are not the same as services offered in other communities. Many general aviation pilots will look for cleaner, modern-looking facilities to house their planes, and Monroe is looking to invest heavily in new amenities and improvements throughout the airport to attract these types of pilots.
Pilots should also shop around before purchasing pilot insurance to ensure they get the best coverage at an affordable rate.
The Italian government recently introduced an aviation luxury tax that is having a positive effect on the private jet industry. The tax has prompted many consumers who would normally purchase or fly their own plane to hire private jet services as a means to avoid paying the tax.
Italy already has some of the highest levels of airport fees and duties in the European Union, and the tax was implemented to further deter visitors and business executives from flying personal planes throughout the country. The goal of the tax is to boost airline sales to further spur economic growth through tourism.
Many private jet companies are now creating new flight paths specifically catering to travelers moving around Italy looking to avoid the tax. Customers can also tailor their flight paths at an extra cost, while still saving money by working with a third party provider.
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