The Private Jet news has been on the front pages of business news and promises to continue with the streak for the rest of the year.
Issues such as safety standards, valuation appraisals, Brexit, and the looming pilot shortage promise to be the significant events in the private jet news in 2019.
Below are the top biggest private jet news to be aware of in 2019.
1. Aviation Appraisal
The issue of ethics and transparency in private jet valuations are well highlighted. In recent times, owing to the nature of the aviation industry, we have seen more debates on valuation standards. With the ever-present human element, it is even more challenging to rely on a single valuation tool.
The ever growing private jet industry warrants a constant review of the valuation factors. This will help manage running costs and ensure accuracy in valuation.
2. Pilot Shortage
NetJets, the biggest private jet company, employs more than 2,500 pilots and is still hiring. The trend worldwide has seen a higher demand for experienced pilots. Their wages have not increased in the recent past as much as expected.
Labor disputes as expected will persist. This may lead to losses, especially for the biggest private companies. They have a lot to lose with any disruption of services as witnessed in the 2015 strike by NetJets Association of Shared Aircraft Pilots union.
3. New Models
As has been the trend, every year presents jet manufacturers and biggest private jet companies with the opportunity to brag about their fleets. The introduction of new models with new technology and features is not enough.
Bigger is better, so are private jets. The Airbus 380 has been the biggest private jet followed by the Boeing 747-8 VIP. Both companies are competitive. They will be eager to announce new iterations of these models or even completely new models.
The largest private jet companies will make sure they get the largest private jet before anyone else.
With the reality of Brexit dawning on the various private jet companies, it is still hard to tell how the decision will affect them. Airbus, the manufacturer of the largest private jet, has been vocal on the deal and has promised to remain in Britain.
The industry is waiting to find out the various regulations that will be in force and how they affect the private jet companies. They remain upbeat that it will not be detrimental. The biggest private jet maker is hoping for an environment that will foster its business and research.
Private Jet News
With the myriad of issues surrounding the private jet industry, one ought to be able to recognize that the industry is still growing. The demand for services from private jet companies is projected to increase, and new markets will be open for the taking.
The Private jet news streaming in from various sources over the past few weeks will confirm that the trend will continue. Above all, private Jets are here to stay.
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