An industry that had sensed the financial crisis is showing no fear of a downturn, writes Thomas Black
18 October 2022 - 18:19The speculation and hand-wringing that the US is headed for a recession have not yet reached the private jet set, which is gathering this week in Florida for what promises to be an upbeat conference.
The 2008 financial collapse affected businesses and consumers alike. Companies were forced to cut costs amid plummeting sales and a scramble to secure credit. Corporate jets were among the first things to go. The interior of a Gulfstream G700 private jet, on display at the National Business Aviation Association convention in Orlando, Florida. Picture: GREGG NEWTON/REUTERS
Often, they start with chartered flights and then take the plunge to buy an aircraft. Those new customers are sticking around even as commercial flights rebound.
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