Flexjet Sees Strong Demand for Private Travel

by birtanpublished on September 11, 2020

Well we know of course that one sector that's not flying high either is the airline sector a lot of pain in the commercial airline industry so does that give companies in the private space an opportunity and a lift of private airlines let's find out and

We're going to ask flexjet chief operating officer megan wolfe megan thanks so much for joining us this would seem to be with all the health concerns out there about flying commercial a an opportunity

For your company absolutely we've definitely seen our personal travel up as people are more comfortable flying on a private jet where they know the passengers they're with

And with the steps that we've taken to make the the flying experience safer and limit the number of touch points that there are when they do need to travel so megan you

Have about 150 jets i imagine of various sizes and you can basically fly anywhere not just domestically but internationally you give us an idea of what routes are most popular at the moment

Yes so right now in the united states the most popular flying that we're doing is to locations like mountainous airports remote locations where people can get get away and get to a location where

They can spend time with their family and shelter in place essentially during this time internationally london has still been a very popular route for us especially new york to london

But we'll travel from bus lake peru to moscow is not uncommon either so we've definitely seen some international travel despite some of the restrictions and

Continue to see new locations becoming requested like tahiti and new zealand and australia because of the capability of our fleet to get to those longer those further destinations

Megan you bought up travel restrictions i was curious when you're operating a smaller plane in a private capacity is it a little easier for an airline like yours to operate and to go from country to country as opposed to a big

Commercial airliner we actually have the same restrictions in terms of the requirements for the citizens to be able to travel that's really where the border requirements fall into place so we still

Have to meet those but we have a team dedicated to working through what travel requirements do exist and where we can do things is where testing requirements take place we're able to get our pilots tested if

They need to be to travel to certain destinations that now require crew members to be tested before they arrive so the scale that we operate in allows us to do that as a team that we have

Allows us to take care of that time that's required and i imagine you know going privately means that passengers can sometimes skirt you know skirt laws that don't enable regular folk to

Go from country to country and i i don't mean not comply i just mean that it's it's easier for them to quarantine when they get to where they're going and so on megan what about rates

Can you give us an idea of how much a private jet would cost somewhere and have they gone up you know what we with our fractional program and our lease program pricing is you know for you to purchase

The share and then you have a fixed monthly management fee and an hourly rate so it's a little bit different than the charter environment where you would just maybe pay as you go

And maybe see more fluctuation one of the benefits of flying fractional is that once you're into a contract with us you have predicted stability in your pricing and it does not fluctuate based upon what's going on in the world around

You wanted to ask you too about the fact that this is obviously an opportunity and a boon to your business when we talk about the aviation industry overall if we can't get back people back

Under commercial flights we're still going to be a sector under quite a bit of pressure for some time right so what we're seeing is some business travel um will come to private to the private

Jet industry that would have normally been in the commercial world because there is some comfort and confidence flying with us so what we've seen is personal travel start to inquire

And they make their plans for the fourth quarter and into 2021 so i think it will take some of the travel away that maybe would have gone on to commercial flight previously

Related Videos

from daily forex this is chris taking a look at the uh bitcoin market here you can see that we have uh found the market to be bullish we have broken above the ...
James fake revenue at deutsche bank has risen by 47 in the third quarter has this good momentum continued in the fourth quarter as well look we're continuin...
from daily forax this is chris taking a look at the um us stock indices this is the s p 500 and you can see that the s p 500 has uh rallied quite a bit did pul...
The capital position now and the confidence you have to deploy that dividend well indeed we have uh we've had a uh a very strong quarter um in which uh you ...
Hi everyone my name is adita and a few years ago i got divorced and became a single mom of two kids and that's when i started to look for ways to invest my ...
Have you ever thought of the true value of gold I mean really the value of something isn't its price it's what you can buy with it that is the true valu...
Hi this is vlad from effects empire euro dollar failed to settle above the resistance at 1.1870 and is trying to get below the support at 1.1830 if this attempt...
from daily forex this is chris taking a look at the uh crude oil marking cwti has gapped a little bit lower and then basically did nothing so uh at this point ...
Rupert what does this all mean for for equities but in general actually asset classes would you buy right now yeah so we are still broadly constructive on risk ...
Today I'm looking back at the Tesla stock on March 17th I did an analysis based on my ambassador diamond analysis the IDB a and I suggested that after its s...
The thing is if it's a legitimate expense and you are legitimately working from home take it you're literally throwing money leaving money on the table ...
from fx empire this is chris taking a look at the euro dollar and you can see that we are reaching above 118 as new york gets on board and perhaps trying to ma...
from daily forex this is chris taking a look at the euro and the pound you can see the euro has fallen a bit during the trading session here on friday as there...
The crude oil price has had a great recovery off those april lows but it does appear to be struggling over recent weeks so given the resurgence of the coronavir...
The recovery in silver continued into july and in the last week uh the price went somewhat parabolic moving from 19 up to 26 and you can see the sort of volatil...
Now one of the things that almost all millionaires have in common is they have exceptional I mean exceptional communication skills because they recognize that c...
Hi this is vlad from effects empire silver is currently trying to settle above the nearest resistance level at 23.30 if this attempt is successful silver will g...
from daily forex this is chris taking a look at the gold and silver markets you can see gold has smashed into this little short-term downtrend line that i have...
So tell us a bit more about the survey what what are your clients telling you about the lessons learned from this pandemic and what does it tell us about the fu...
At first glance ichimoku charts um can seem somewhat intimidating with a lot going on when we're looking at markets but they're also a really powerful w...