Luxaviation UK has reported a demographic shift in its customer profile, with millennials now accounting for 50 per cent of its business jet clientele.

The transition from charter customers in their 50s and 60s to younger professionals in their 30s and 40s is being driven by those in emerging industries such as tech, finance and private equity, as the younger group turn to small and midsize jets to meet the practical needs of business and leisure travel. Luxaviation is also seeing younger clients enquiring about aircraft management services after taking ownership of their own aircraft, reflecting the high-net-worth wealth transferring to the next generation.

CEO George Galanopoulos says: “As the tech sector continues to rapidly grow and businesses become more globalised, the value of face-to-face meetings cannot be overlooked, and business aviation affords customers the ability to get across the globe privately, quickly and reliably.”

Travel to lesser-known destinations is also on the rise. “Social media is making travel less exclusive, as users can easily find photos and videos of 'hidden spots'. They want to be there before the online hype or at least ahead of the trend,” Galanopoulos explains. “Saudi Arabia, for example, is currently piquing the interest of some of our clients who are eager to travel there while it is still relatively new to the UK market.”

The figures reflect wider industry trends, with EBAA recently reporting that business aviation contributed €100 billion in economic value across Europe in 2023.