Australia’s private jet charter industry boosted by strong links with Asia
A key Australia travel trend in recent years has been the rising demand for international business flights – fuelled in part by the country’s growing economic ties with new emerging markets.
Asia in particular has become the key region for Australia’s major corporations and high-net-worth-individuals targetting investment opportunities – with cities including Beijing, Shanghai, Singapore and Tokyo topping the list of business travel destinations.
In addition to requirements for business class and first class tickets on scheduled services, private jet charter companies have also benefited from Australia’s growing links with Asia.
Cameron Pritchard, business development specialist at Melbourne-based firm Chapman Freeborn Airchartering, says that many corporate travellers look to mix work with pleasure while on international trips.
“Private jet travel bypasses a lot of the time-consuming elements of international travel including check-in queues and lengthy waiting times inside terminals.
“From our experience, while business meetings can be the primary purpose for most trips, the flexibility of private charter means it can also be used as a way of taking time out to find out more about the local culture, or even just enjoy the sights.”
The relative strength of the Australian dollar in recent years has also boosted demand for overseas travel and significantly increased the spending power of the business elite and tourists alike.
According to Cameron, private jet travellers are venturing further afield than ever before across the Asia-Pacific region, with emerging markets such as Tahiti, Indonesia, Thailand and Philippines among the newer destinations attracting significant air charter interest.
Australian travel management companies in particular are now also starting to book private air charter flights within Asia and beyond, including Europe and the USA, which is saving their clients time when on a busy business schedule.
“The size of the private jet fleet in the Asia-Pacific is growing over time, making it easier for executives to travel the region as their businesses expand into new territories.”
According to the Bombardier Business Aircraft Market Forecast, the Asia Pacific has experienced a twofold increase of its fleet size over the last decade.
There are currently fewer than 500 private jets based in the region – mainly concentrated in Australia and Japan – but this is set to change significantly in the next 20 years. It is predicted that by 2032 there will be more than 1,150 private jets covering the Asia-Pacific market – reflecting the growing importance of this part of the world to the global economy.
The recently published Forbes Billionaires List 2014 reveals the shifting wealth patterns and explains why all of the major private jet manufacturers are targetting the region for future sales.
According to the Forbes, the Asia-Pacific currently has 444 billionaires – with only the US and Europe boasting more (492 and 468 respectively). Australia has 29 members in this exclusive club – their fortunes made from a variety of sectors including mining, property, finance, gambling and retail.
Photo: The Gulfstream G450 is an example of a private jet type that is an increasing familiar sight in Australia and the Asia-Pacific. The G450 large-cabin, long-range business jet has a range of 4,350 nautical miles, which means it can fly from Sydney to Singapore.
To find out more about Chapman Freeborn’s private jet charter services in Australia, please call +61 3 9374 5600 or email australia@chapman-freeborn.com.
