Are we entering a golden age for private jet travel?

LunaJets, a leading independent global provider of private jet charter solutions headquartered in Geneva with offices in London, Paris and Monaco, has exceeded $100M annual revenue in 2021 for the first time in its history. This represents 65% growth of flight volume vs 2020 and 40% vs 2019 for the private jet charter division of Luna Aviation Group. The number of flights (including empty legs) reached almost 8,000.

“Considering how highly volatile the market has been since the beginning of the pandemic and a slow start to the year, these figures which are well above the rest of the market, confirm our position as the European market leader” states Guillaume Launay, Director of Sales. “We beat our record of new clients with over 1,100 in 2021, with an unprecedented level of clients switching supplier, and newcomers into the industry” he adds. “Most of these are leisure clients which, this year represent nearly 70% of our activity, compared to around 50% in 2019, whereas our business clients have dramatically reduced their flight hours.”

The aviation market in 2021

Starting in April, the business aviation market experienced a dramatic shift from an oversupply to an undersupply mainly fuelled by a drastic improvement of the sanitary situation until mid-Novembre, a lack of commercial flight routes and a huge increase in wealth resulting from bullish stock markets.

“This recent golden age for our industry, is an opportunity to accelerate our global development”, notes Eymeric Segard, LunaJets CEO “we also greatly benefited from the strong demand pressures on 25h-card providers and jet sharing programs which could not grow fast enough to absorb this unprecedented level of clients flying on their own fleet. Therefore, some of these clients switched to our services, offering unlimited direct access to a much wider fleet of recent aircraft worldwide. I am delighted with our performance but not fooled by these exceptional circumstances which feel like it did in 2007 when founding LunaJets, with signs of alarming over-excitement. For example, we are seeing rates-per-hour on large cabin aircraft category increasing and availability dramatically reducing.” adds Segard.

This year, LunaJets started to accept Crypto payments, offered carbon offsetting programs and was awarded prize for the “Best SME Employer” in Switzerland for the 4th year in a row by the Swiss business magazine Bilan.

“The Group doubled its IT and digital investments in 2021, and will continue in 2022 to increase our gap with the competition. Next year, we will offer to our clients the most advanced IT and digital tools of our industry.” says José Ferreiro, Head of IT and Digital.

Forecast for 2022

After opening new offices in London in 2019, Paris in 2020 and Monaco in 2021, Lunajets will expand to Riga, Moscow and Dubai in 2022.

“Our new offices and inherent synergies within the Group – private jet charter, group charter, cargo, Sales & Acquisitions – have created an ecosystem where we cover all sectors of our industry to deliver the same independent and reliable service as LunaJets has done for over 15 years” mentions Alain Leboursier, Managing Director. “This has created a unique position where we are building deeper business relationships with our clients (and suppliers), being able to service all their aviation needs as well as rapidly gaining new clients in these markets.” adds Leboursier.

Despite the clear signs of a bubble in the industry, LunaJets remains confident that it can continue gaining market share and is targeting again 20-30% growth for 2022, as long as there are no geopolitical, financial or sanitary shocks.

Are we entering a golden age for private jet travel, do you think?

Comments (10)

  1. Pete says:

    It’s not really a surprise that the business market is growing. I would expect there to be some increase in the leisure market too. Busy people don’t want to be held up by all the crowds and hassle of commercial flights.

    • Paul Johnson says:

      True, but conversely you could say that the business market is under threat. Do we need to meet in person when you can meet via Zoom? If the pandemic has shown us one thing, it’s that we can achieve a lot more virtually than we might have previously realised.

  2. Alex says:

    The simple answer to your question is “Yes”. Time is money.

    More than ever in the 21st century time is precious and we are always looking for ways to create time.

    • Paul Johnson says:

      I think that’s really the key advantage of private aviation. Sure it’s nice to have the extra comforts and privileges but, at the end of the day, it’s about getting from A to B quicker.

  3. Diana Presley says:

    One things for sure. Once you’ve started using private jets you won’t be going back to cattle class travel.

  4. Steve says:

    It’s going to be a long, long time before most of us feel safe around other people. You only have to look at how paranoid people in Asia became after SARS so I can’t see people rushing into crowded airports if they can take the private jet option. Obviously it’s only for a minority but I bet that minority will grow.

    • Paul Johnson says:

      The US has seen huge growth in private aviation in the last decade or longer, and I expect Europe to follow suit. You may have noticed in the news recently that Private Air – a UK private jet company that being around since the 1960s – was recently purchased by the Wheels Up Group (which is now the second largest private aircraft operator in the US behind NetJets). Seems like a strategic move that will result in more growth of the industry in Europe.

  5. Sian Williams says:

    I look forward to joining the private jet travel club as it would take out many of the negatives of travelling.

    Unfortunately, I’ve got a few more rungs of the corporate ladder to climb before I get my membership.

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