US private jet market shows signs of recovery

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Updated: May 23, 2013

According to a representative from NetJets, the United States is spearheading a recovery in the demand for private jets as Europe continues to be bogged down by economic problems.

“The U.S. from our perspective is coming back and doing relatively well,” explained Jordan Hansell, executive officer at NetJets, in a recent phone interview. “Europe has remained difficult.”

NetJets lets people buy a stake in planes in exchange for flight hours. The number of NetJets owners increased by more than 50% in the first quarter of this year compared to last year.

“I wouldn’t say it’s a huge upswing, but it’s year over year over year, from 2009, been an improvement,” said Hansell.

According to the company, it will be the first operator of the Bombardier Challenger 350 midsize jet. NetJets has placed 75 orders for the model in June.

Source: Bloomberg

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