Ashish Bhandari, Banker, on 7 Trends in Private Jet Travel for 2022

4 Likes comments off

Ashish Bandari, a banker and business leader, sees the demand for private-jet travel increasing in 2022.

DUBAI, UAE, December 22, 2021 / — Bhandari predicts the desire to get away and ongoing concerns about COVID-19 fueling demand. According to Bhandari, a leading expert on jet travel and aviation, here are 7 trends to watch in 2022.

1. Demand to Continue to Grow

Wealthy travelers today are eager to spread their wings. Despite uncertainty about the COVID-19 pandemic, travelers want to make up for lost time. That means adding time away as part of their 2022 itineraries.

Travelers also want to travel safely, not wanting to deal with crowded airports and flights.

With demand rising, companies are adding to their fleets. NetJets, the largest private jet company in the world, for example, expects to spend $2.5 billion on new jets. With 128 new aircraft, the company’s fleet will total 850.

Flexjet and PrivateFly noted increased demand for their flights in September and October 2021. That’s a time of year when most private jet firms see business start to wane after a busy summer travel season.

The demand means companies can raise their prices, too, with some companies starting waitlists for new customers.

2. New Entries Will Add Competition, Says Ashish Bhandari, Banker and Business Leader

Gulfstream, Bombardier, Textron, and Dassault Aviation are the leading makers of luxury jets. But new competitors are eager to disrupt the industry. Now the second-largest U.S. private jet operator, Wheels Up went public in July 2021. JetEdge, another private jet company, saw a $40 million investment by KKR, a private equity firm.

However, these new entrants could cause problems for travelers who buy their own jets. Many private buyers have to lease out time in their planes to cover costs and mortgage payments.

If the new entrants lead to lower prices for leasing, owners could find themselves pinched to cover their luxury jets.

3. Business Demand Will Take Longer To Come Back

Business travel is likely to lag, Ashish Bhandari, the banker and portfolio manager said. While leisure travel has begun to rebound, many businesses are still operating in remote or hybrid modes. With much business still being conducted over Zoom, the demand for business jet travel could lag in 2022.

4. Carbon Footprint Continues to Be Top of Mind

The environmental impact of small-jet travel is a major issue for the industry. Some companies are setting carbon budgets to reduce their carbon footprint. That could mean fewer trips or more use of commercial air travel.

5. New Destinations Gain in Popularity

Travel to the United States and Asia has been slower to recover than other destinations. But there are still plenty of places to explore, Ashish Bhandari, the banker who has worked with high-net-worth clients for years, said. The most popular destinations in 2022 are likely to be:

Ajaccio and Olbia, Sardinia, Italy
Antibes, Cannes and Nice, France
Faro, Portugal
Greek islands
Palma, Mallorca

6. Bring the Pets Along

During the pandemic, millions of people bought or adopted pets. For many of those households, pets had not been a part of the family before. As a result, there’s likely to be a rise in the demand for luxury pet travel. That would mirror a rise in animals flying on commercial aircraft. The reality is that families will not want to leave those dogs and cats behind when they vacation.

7. Growth Expected in Lifestyle Services

Wealthy travelers have changed their priorities during and after the pandemic. Today’s high-net-worth travelers want more than a private jet flight. They want a single point of contact for all their travel needs. That means looking for a service that books, jet and car service, hotel and resort stays, and experiences. Ashish Bhandari, a banker, and jet travel expert predicts growth in companies that bundle these services.

With demand soaring and new expectations, Ashish Bhandari, the banker, and portfolio manager predicts an active and healthy 2022 for private jet services.

Caroline Hunter
Web Presence, LLC
+1 786-551-9491
email us here

Ashish Bhandari, Banker, on 7 Trends in Private Jet Travel for 2022 1

Các Bài Viết Bạn Có Thể Thích

Giới Thiệu Về Tác Giả: Chia Sẻ Bài Thanh