Steve VarsanoFounder at The Jet Business

Private jet or corporate jet?

Name: Private jet or corporate jet?
Uploaded: 2024-05-08T21:02:55+00:00
Duration: 42 s
Channel: Steve Varsano
Description: All jets marketed as private are actually corporate assets held under business entities. Even when used for personal trips, they're owned by companies…

8 May 2024 · 1 min

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All jets marketed as private are actually corporate assets held under business entities. Even when used for personal trips, they're owned by companies, not individuals. About 70% of corporate jet use is middle management, 20% is executives, and only 5-10% is genuinely personal.

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People always use the term private jets, corporate jets, personal jets. The fact of the matter is they're all corporate jets. No airplane is owned by any individual. They're always put into a corporate name, a special purpose vehicle. And the fact of the matter is all jets are bought for business reasons. Not saying that they're not ever used for personal reasons. Of course, in the charter market, you're getting a bigger percentage of people using them for personal reasons. But in the corporate world, the airplanes are 70% occupied by middle management, the C-suite, chief operating officer, chief executive officer, chief financial officer. That's another 20%. You're going to have maybe 5 or 10%, which is sort of in the personal side. It's a very, very small percentage. People use private jets, but in fact they are corporate jets.