As we approach the third anniversary of 9/11 it is easy to nominate that event as the reason for the subsequent depressed state of the European executive jet market in the 2 years that followed. However, even in the previous 12 months the evidence of recession was recognisable to all but the optimists.

Happily today we see a rising charter market with business travellers and leisure users reflecting a growing tide of optimism in the financial sector, much stemming from the similarly-behaving US economy. Executive jet travel is therefore clearly on the up, encouraged by the pitiful experience of business travellers using short-haul scheduled airline flights – an option that disappoints frequent flyers with increasing regularity.

As one would expect, the growing demand for private jet use is coming from all of the traditional sectors; ceo and corporate main boards of industry, self-made businesspeople, financial roadshows, the entertainment industry etc. Alongside this, two new growth areas are developing: Russian charter clients, and people trying out the jet card or jet membership schemes.

Russian use is predominantly at the top end of the market with large aircraft use and flights over larger distances fuelling growth of the heavy jet charter market up to and including the BBJ. Jet card schemes, on the other hand, are bringing completely new users in by tempting them into modern low cost aircraft such as the Citation Excel and Lear 45 by the most prolific and aggressive marketing the business aviation industry has ever seen.

The apparent simplicity of such schemes is undoubtedly their attraction for new entrants; however as jet card members (and fractional owners) become more informed in their buying, increasing numbers are discovering the disproportionately high costs charged for each hour flown; consequently dissatisfied buyers are turning to ad hoc charter to benefit from significant cost savings that can be as high as 50 to 65 per cent, when comparing like for like.

The most popular types of aircraft available for charter at present are, unsurprisingly, the newer models. The European charter customer is spoilt for choice and is benefiting from great value for money. New technical regulations and requirements introduced over recent years have prompted many operators to replace their older fleets with the newest models rather than upgrade the old ones.

Consequently, the charterer now has access to the very latest models, many less than a year old; these include an abundance of CitationJets, Bravos, Lear 45s, Excels, Challengers, Falcon 2000s, Gulfstreams, and even the vip Airbuses and Boeings.

In particular the Citation Excel has proven to top the popularity charts among light jet and midsize charter customers. In the last twelve months alone, Air Partner has experienced 37 per cent growth in the number of hours sold on this type. Many of the other models are filling niche markets like the new super-midsize market where aircraft such as the already available Gulfstream 200, and soon to be available Challenger 300 offer extremely comfortable cabins, and large baggage capacity at just above midsize rates.

The Embraer Legacy is also another popular new aircraft as this 13-15 seat vip version of the tried and tested 37-seat Embraer 135 Regional Jet provides Gulfstream levels of cabin size and baggage capacity at much lower charter rates.

The European charter fleet now offers not only the widest choice of modern jets, but the fleet size now exceeds 700 examples licensed for public transport hire. Moving East, similar signs are evident in the newly adopted EU countries, with examples of the Hawker 800XP and Challenger 604 in places such as Riga in Latvia. The Middle East has also followed suit.

As new aircraft continue to enter the market, and business travel increases, there seems to be no reason at present why these growing trends of increased quality of supply and demand should not continue. Why anyone who seriously values their time continues to use short-haul scheduled airline flights, for anything other than enforced budgetary reasons, is mystifying and can only be from lack of awareness of the alternatives and education into the financial justifiability of today’s executive jets.

David Macdonald, Marketing director, Air Partner