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Private Jet Demand Soars

Weak dollar, high oil prices fuel surge

By Caroline Zimmerman,  Newser User

Posted Sep 24, 2007 1:39 PM CDT

(Newser) – The demand for private business jets is sky-high, with international buyers taking advantage of the weak dollar to propel a projection-beating trend expected to last at least a decade, MarketWatch reports. "Domestic demand is solid but it's not showing the type of growth rates going on outside the US," says one executive.

Between now and 2017, 14,000 private aircraft worth $223 billion will be delivered, according to a survey by aerospace contractor Honeywell. Barriers to entry are falling, too: Once the exclusive province business travelers, private charters are attracting leisure passengers as well. But a possible stumbling block is increased air traffic in already-clogged zones.

An Air Malta car rides past French businessman Vincent Bollore's private jet, on the tarmac of Malta international airport, outside Gzira on the northeastern coast of  Malta, a Mediterranean archipelago, Tuesday, May 8, 2007. French President-elect Nicolas Sarkozy used Bollore's jet to land in Malta on Monday. He then boarded...
An Air Malta car rides past French businessman Vincent Bollore's private jet, on the tarmac of Malta international airport, outside Gzira on the northeastern coast of Malta, a Mediterranean archipelago,...   (Associated Press)
Private jets are seen at Teterboro Airport in Teterboro, N.J., in this April 10, 2007 file photo. Major airlines are asking passengers for help convincing Congress that private aircraft owners should pay a bigger share of modernizing an outdated air-traffic control system. U.S. carriers are drumming up passenger...
Private jets are seen at Teterboro Airport in Teterboro, N.J., in this April 10, 2007 file photo. Major airlines are asking passengers for help convincing Congress that private aircraft owners should...   (Associated Press)
Karl Lagerfeld walks in front of a private jet at the 2007/8 Chanel Cruise Show presented Karl Lagerfeld, Friday, May 18, 2007, in Santa Monica, Calif. (AP Photo/Mark J. Terrill)
Karl Lagerfeld walks in front of a private jet at the 2007/8 Chanel Cruise Show presented Karl Lagerfeld, Friday, May 18, 2007, in Santa Monica, Calif. (AP Photo/Mark J. Terrill)   (Associated Press)
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