Bringing you live news and features since 2006 

Growth in luxury yacht market fuels demand for private jet charters

RELATED TOPICS​

The Cannes Yachting Festival (12-17 September) marked the beginning of the boat show season in Europe, and GlobeAir, the leading air taxi operator in Europe, was for the first time one of the show’s sponsors. It is also the exclusive air charter partner of the Ferretti Group, the world´s largest luxury yacht manufacturer, underlining its commitment to excellence.

GlobeAir, which owns and operate 16 Mustang jets, estimates that this summer the number of flights it operated into Nice, Olbia, Ibiza, Palma de Mallorca and Malaga airports between June and August – popular amongst those holidaying on yachts – was on average 16 per cent higher than last year, and 24.3 per cent more than in 2015.    
 
For the market as whole, overall business aviation flights to these airports was up between 4 per cent and 20.7 per cent in August compared to the same month last year .
 
Mauro De Rosa, Chief Marketing & Sales Officer of GlobeAir, says: “Growth in the yacht market is playing a key role in growing demand for private jets.
 
“There are now more than 5,000 super yachts in service and close to 500 more expected to complete construction by 2020. Furthermore, the global yacht charter market is set to increase at over 7 per cent CAGR between now and 2026.
 
“Private jet is the preferred mode of transport for people to reach their yachts as it allows extreme flexibility along with the possibility to book the flight with a very limited notice.” 
 
GlobeAir’s fleet of Citation Mustang jets is able to connect to more than 1,500 airports around Europe and North Africa, including those with a short runway not accessible to commercial airlines. Travellers appreciate the advantages of being able to cover multiple business destinations in the same day, with a flexible departure time according to their own schedule.

Latest News

Invesco’s Paul Syms, Head of EMEA ETF Fixed Income and Commodity Product Management, has commented on the gold price, saying:..
Everysk, a provider of customisable, no-code, low-code intelligent automation solutions, has been chosen as a strategic partner of Dynamic Beta..
Rize ETF has listed its new Rize Circular Economy Enablers UCITS ETF (CYCL) on the London Stock Exchange (LSE) and..
DWS has launched a new Xtrackers ETF based on European Nordic equity markets, aligned with the goals of the 2015..

Related Articles

Stephanie Miller Pierce, BNY Mellon
The three-year anniversary of BNY Mellon Investment Management’s launch of ETFs was marked by the quarter one growth of 172...
South Korea Flag
The overall trend in retail subscriptions to mutual funds in Korea is shifting gradually toward ETFs, as exchange-traded offerings have...
“The beauty of ETFs is that you can have effectively a rules-based strategy at low cost” says Laurent Kssis, head...
Henry Timmons, RBA
Henry Timmons, director of ETFs and Michael Contopoulos, director of fixed income at Richard Bernstein Advisors are on a mission...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by