Magnus Aviation to increase London-bound private jet flights
July 12, 2016
On 7 July 2016, Magnus Aviation revealed plans to increase its private jet flights from Asian destinations to London. The company expected its private jet traffic to surge as a result of an increase in the number of high-net-worth travellers exploiting the weakened pound. Many of whom will want to visit London for luxury shopping sprees. This news is according to Terry Spruce’s article published at the Corporate Jet Investor website. Magnus Aviation also expects this trend to replicate among affluent London-bound business jet travellers. Especially from the Middle East and European countries.
Magnus Aviation Warming Towards European Destinations
Magnus Aviation is banking on the high growth rates of private jet traffic between Asia and Europe in the first half of 2016. Current trends and statistics show a sharp rise in the numbers of private jet passengers and trips between the two continents. As Spruce reports:
“Magnus Aviation reveals that in the first six months of this year, private jets flying into Europe from China increased by around 43%. And from the rest of APAC by 8.6%.”
Notably, the Asia Pacific’s business jet market is gradually warming towards European destinations. The region actually presents a great deal of growth potential for private jet operators. Especially those seeking new market opportunities. Both China and APAC recorded even higher private jet traffic in June 2016. Spruce cites Magnus Aviation’s figures:
“For June, the number of private jets arriving from China into Europe was 41.7% higher than the same month last year. And for APAC (excluding China) the corresponding increase was 12.7%.”
It is already apparent that the dip in the value of the pound rallied the private jet industry in June. This trend is best underscored by the fact that the month of June accounted for 21% of the 1,400 private jets that took off from APAC. Therefore, Magnus Aviation’s projections of business growth are well within the scope of the overall trends of the industry. It is likely that this projection will mean interesting things for the future of Magnus Aviation.