First-class flying
Published: February 11 2008 19:54 | Last updated: February 11 2008 19:54
The world’s business elite has had it with dingy and overcrowded airports. A short hop from London’s Heathrow, the booming private jet base at Farnborough airport shows that those who can afford it are choosing to slide into the Bentley and head for their own aircraft.
Despite the effects of the global credit squeeze on business and consumer confidence, demand for private jet travel is growing strongly. Last year was a record year for orders of new business jets. Farnborough is having to turn away customers because the surge in demand has pushed the airport to its limits.
The boom is in large part a consequence of the hellish experience that mainstream air travel has become. People paying high ticket prices do not want just to be cossetted on board an aircraft. They also want to avoid the lengthy check-in queues, tedious delays at security and crowded departure lounges that add to the misery and inefficiency of flying. Some airlines attempt to “fast-track” their first class passengers. But this has failed to buy their loyalty.
Opting to fly by private jet is a rational response to the cattle-truck conditions to which all passengers are subjected at many big airports, and particularly Heathrow. If the price of a first-class ticket is supposed to reflect greater comfort on the ground as well as in the air, then travellers who pay that premium are being conned.
It is not hard to see why private jet travel, far from being a badge of corporate excess, is now regarded as more productive because of the time it can save. Companies do not want to see their executives tied up at commercial airports for hours.
The growing numbers of super-rich have contributed to the boom. So has a rise in private jet fractional ownership schemes, which allow customers to bulk-buy hours in advance. NetJets Europe, which pioneered these schemes, is increasing its fleet by 29 per cent this year. As more new providers enter the market, competition will increase. That should lead to lower prices, benefit flyers and put a private jet within the reach of more executives.
For many regular business travellers, though, opting out of Heathrow hassle will not be a possibility. One big constraint on Farnborough’s growth is the complexity of the UK’s planning laws, which have put a brake on its expansion. The slow pace of planning reform means a private jet revolution is a long way off. Until then, those who can should insist on making a sound economic choice. First-class prices should mean first-class treatment.
Copyright The Financial Times Limited 2008
Published: February 11 2008 19:54 | Last updated: February 11 2008 19:54
The world’s business elite has had it with dingy and overcrowded airports. A short hop from London’s Heathrow, the booming private jet base at Farnborough airport shows that those who can afford it are choosing to slide into the Bentley and head for their own aircraft.
Despite the effects of the global credit squeeze on business and consumer confidence, demand for private jet travel is growing strongly. Last year was a record year for orders of new business jets. Farnborough is having to turn away customers because the surge in demand has pushed the airport to its limits.
The boom is in large part a consequence of the hellish experience that mainstream air travel has become. People paying high ticket prices do not want just to be cossetted on board an aircraft. They also want to avoid the lengthy check-in queues, tedious delays at security and crowded departure lounges that add to the misery and inefficiency of flying. Some airlines attempt to “fast-track” their first class passengers. But this has failed to buy their loyalty.
Opting to fly by private jet is a rational response to the cattle-truck conditions to which all passengers are subjected at many big airports, and particularly Heathrow. If the price of a first-class ticket is supposed to reflect greater comfort on the ground as well as in the air, then travellers who pay that premium are being conned.
It is not hard to see why private jet travel, far from being a badge of corporate excess, is now regarded as more productive because of the time it can save. Companies do not want to see their executives tied up at commercial airports for hours.
The growing numbers of super-rich have contributed to the boom. So has a rise in private jet fractional ownership schemes, which allow customers to bulk-buy hours in advance. NetJets Europe, which pioneered these schemes, is increasing its fleet by 29 per cent this year. As more new providers enter the market, competition will increase. That should lead to lower prices, benefit flyers and put a private jet within the reach of more executives.
For many regular business travellers, though, opting out of Heathrow hassle will not be a possibility. One big constraint on Farnborough’s growth is the complexity of the UK’s planning laws, which have put a brake on its expansion. The slow pace of planning reform means a private jet revolution is a long way off. Until then, those who can should insist on making a sound economic choice. First-class prices should mean first-class treatment.
Copyright The Financial Times Limited 2008
