“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Charter flying decreasing in some markets
Charter volume is dropping significantly in some markets, according to charter industry insiders. Recent increases in the size of the business aviation fleet are contributing to this problem, said William Quinn Jr., chairman of Aviation Management Systems in Portsmouth, N.H. "If the demand stays the same or even grows just a smidgen," he explained, "the supply is going [to grow] at a far greater rate than the demand. Most all of the fractional players have matured to the point where they are beyond the so-called critical mass. So their need for charter has dropped off considerably in the past three to five years and I think that will continue. We are also in an election year, and that tends to cause people to back off on making buying and spending decisions."