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Business Air News Bulletin
Business Air News Bulletin
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Global Jet reports strong growth in aircraft management
Global Jet has elevated its standing by introducing the only VVIP Boeing 747-800 to its fleet, and has been reporting strong progress in all aspects of its diverse business.
The stylish interior of the Airbus A330.
Read this story in our June 2024 printed issue.

The outset of 2024 has proven highly productive for Global Jet's aircraft management department with the signing of seven aircraft management and operations contracts since autumn 2023. These are a Challenger 300, a Praetor 600, a Falcon 900LX, a Falcon 7X, a Global 7500, an Airbus ACJ320, and notably, a Boeing 747-800.

The company says this is the only VVIP Boeing 747-800 and therefore a highly significant aircraft, the addition of which pushes Global Jet to a new level of prestige and capability. It already operates the VVIP Boeing 787 Dreamliner, the Airbus VVIP 340, and the Airbus VVIP 330.

Furthermore, the aircraft management team has already announced 10 new aircraft in the pipeline, including the delivery of three brand-new Gulfstream 700s.

On the operational and safety side, Global Jet has obtained IS-BAO certification level 3, and achieved automatic integration with PNR-GO, streamlining processes and enhancing efficiency for clients. With PNR-GO, it implements rigorous screening measures to examine individuals against various lists, prioritising safety protocols, primarily when chartering aircraft to third parties.

Global Jet’s charter fleet offers a more diversified range of aircraft types. Over the past several months, seven new arrivals comprise an Airbus ACJ330, Airbus ACJ320, a Bombardier Global 7500, a Global Express XRS, two Falcon 7Xs, and a new Praetor 600. The 7Xs are based in Nice and Paris to meet the high demand for charter services in these regions.

The company is expanding its charter team in Madrid and has hired a new member who will play an essential role in strengthening charter operations in Spain.

The conclusion of 2023 saw a number of aircraft sales transactions, highlighted by the sale of a Gulfstream 650 and a Falcon 7X. Furthermore, 2024 started with a higher level of activity compared to 2023, including selling a Falcon 2000LX, another Falcon7X, two Global Express XRSs and a Falcon 900DX EASy. The company sees positive activity, with many buyers moving forward with acquisitions following a period of “let’s see where prices will be at year-end.” The growth is further driven by market confidence, technological advancements and changing consumer behaviours.

Regionally, the company says, North America continues to lead the market, while the EMEA and Asia Pacific regions exhibit diverse dynamics. Europe is focused on maintaining older fleets and adopting green initiatives, while the Middle East and Africa show a rise in demand for new, large cabin jets. The Asia Pacific region, particularly Malaysia, Indonesia and Korea, is emerging as a significant player with a growing affluent class driving demand for private jets. The economic impact of the private jet sector is substantial, contributing significantly to job creation and industry growth, says Global Jet. It supports a wide range of businesses, from manufacturers to MRO services, and plays a crucial role in global business dynamics by enabling flexible and efficient travel for business leaders. This influence is particularly evident in emerging markets like Latin America and southeast Asia, where economic growth is leading to greater numbers of high net worth individuals and a rising interest in private aviation, despite challenges such as limited infrastructure and regulatory hurdles.

Finally, the Global Jet Completion department has been tasked by an owner to oversee a new project involving the VVIP completion of an Airbus A320Neo. This project encompasses the entire process, from the aircraft’s delivery from Airbus to its final redelivery after outfitting.

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