The regional market for private jet travel would grow at 6-8% in the region this year and next, with Royal Jet itself forecasting 15% growth this year, said an optimistic Shane O’Hare, president and CEO of Royal Jet.
O’Hare highlighted that there was a need to take into account the requirements of VIP customers when planning airport investment and infrastructure. “Major airports need to either encourage private investment in the development of improved Fixed Base Operation facilities or invest in their own infrastructure as this sector grows,” he added.
“Some major airports process VIP private jet customers through airline terminals, which defeats the primary reasons for private jet travel: speed, security and privacy. Even provision of adequate parking for business jets needs to be factored into investment plans,” O’Hare elaborated.
There would be more consolidation at the smaller end of the private aviation sector due to competitive pressure. At the higher end of the market, the quality of product and service delivery would determine which companies survived and thrived, he said.