While Boeing and Airbus have struggled to shift new planes and airlines have filed bankruptcy, sales of private jets are up.
Sales of preowned private jets were up nearly 10% in 2020. The US accounts for about 70% of all private jet business and sales also rose in Europe.
More than 2,000 private jets were purchased, according to broker Colibri Aircraft. The company’s managing director says the benefits of flying privately have become much more pronounced in the pandemic, especially for business travelers. “It has welcomed many new people who have never flown privately before,” Stone said.