5 Crazy Facts About Private Jets
Sep 27, 2022
There are many myths people hold true about the private jet market in America and the rest of the world. In the main, most people assume private jet travel is too expensive and that only the richest 0.1% of the population can afford to travel in this way.
However, the truth just might surprise you. Not only can regular flyers enjoy flying private, but they can also do so by taking advantage of XO Membership.
So check out these five crazy facts about the private jet market in the U.S. and the rest of the world.
Half the Private Jets in the World are owned by Americans
As the country with the most millionaires on Earth, it should surprise no one that Americans would own most of the world’s private jets. However, 49.7% is a lot relative to the rest of the world’s population.
Though China has the second highest number of millionaires in the world and the world’s largest population, Asia Pacific makes up only 11.8% of the market. Europe claims 20.8%, Latin and South America claim 11.6%, and Africa and the Middle East make up the remaining 6.1%.
Many Private Jet Owners Will Purchase Another
Though half a billion dollars certainly doesn’t represent the average cost of a private jet, most people would think of a jet as almost a lifetime investment. Right? Wrong. Thirty percent of current owners of private jets say they plan to buy another jet within the next five years.
Forty Percent of Jets in the Sky Fly Empty
Unlike commercial carriers, once a private jet reaches its destination, it usually makes the return trip as an empty flight. This is called an empty leg and happens an estimated 40% of the time, which means almost half the fuel, and payroll hours spent on flying jets are wasted on an empty vessel.
It Can Be Cheaper than Flying Business Class
Believe it or not, chartering a jet on its empty leg could add up to less than flying business class on a commercial flight.
For flyers looking to fly with the best quality and safety ratings in the industry, becoming an XO Member is a great way to fly private without breaking the bank.
Celebs Fly their Own Jets
There are many celebrities who own private jets, like Oprah Winfrey, John Travolta, and Michael Jordan. This comes as a surprise to no one. But what many people don’t know is that some celebrities give up the luxury and comfort of the passenger seat to fly their jets themselves. Some celebs who do this include Jimmy Buffett, Tom Cruise, and John Travolta.
To learn more about this post, our Membership Programs, or some of our top flight routes such as Barcelona to Madrid, Madrid to Lisbon, or Edinburgh to Southampton, please feel free to contact our team:
XO Global LLC is not a direct air carrier and does not operate any aircraft. All flights will be operated by properly licensed US or foreign air carriers. Membership is subject to the terms of the applicable Access Membership Agreement.