Why do the ultra-rich prefer to fly on private jets?

Maintaining a private plane on hand is an expensive business that the mega wealthy might not indulge in.
According to new study, the expense of owning and maintaining a private jet is so good that the estimated mean average prosperity of such a individual has been calculated at around $1.5 billion. Less than that and the numbers just don’t stack up. This has resulted in the growth of alternative models such as a membership program, fractional ownership or purchasing by the hour.

But why use a private jet? Could first class commercial traveling not offer all of the comfort required, at a fraction of the price tag?

The Jet Traveler Report 2018, published Monday and assembled by data collecting firm Wealth-X and private jet company VistaJet, anonymously requested the super-rich why they believed private aviation provided value.
It doesn’t matter if you’re chair 1A in first class, as you’ll still need to be processed through security. Ultra-High Net Worth individuals (those with greater than $30 million in assets) aren’t comfortable to wait about, according to the poll, and love that they can drive right up and fly at a moment’s notice.

Other perceived savings come in the form of buying and booking time in addition to the logic that private aviation may save time if the last destination is close to a smaller airfield.

The wealthy could often be fastidious about controlling portions of the life and traveling is a frequent concern. One VistaJet customer noted that if a meeting overran, it provided no pressure since the jet could be there waiting.

The drive for control also extended into the onboard encounter. Many flyers stated they want the experience to become an extension of their normal lifestyle. They do not view private jet travel for a luxury experience and seldom drink champagne.

Report co-author Winston Chesterfield noted that one private jet flyer needed to know that if he wanted a hamburger and fries, it wasn’t going to be an issue.

Perception of security The report maintained that the two dominant factors are the age of the airplane and the visual condition of its exterior and cottage.

The report stated that many wealthy people don’t like to travel on aircraft and that commercial airlines can’t guarantee a newer airplane.

One person quoted in the poll said that the demonstration of the airplane and staff was significant because it suggested that a high degree of maintenance was also being put on maintenance and operation.

A private jet enables people to fly without being recognized. Many customers are working under a corporate banner and company trips involving well-known executives can be conducted in relative secrecy. This of course is not as evident on a membership or fractional ownership basis but may be achieved to a level.

There is one major drawback, however, as complete possession of a plane means that as it flies around, others will know who’s probably on board and where they’re going.

There’s absolutely not any contrast between private jet travel and commercial airlines when it comes to price. And the poll found that, even if cheap, a private flight wasn’t always preferred.

The report indicated several private flyers see the advantage of private aviation for domestic flights within the U.S. or across europe. Many noted that loyalty rewards for first class travel can be quite generous and may be utilized to offset future expenses.
So who awakens private?

Private jet flyers are split into three classes in the report. Owners, who have all or part of an aircraft; members that are part of a private-flying program; and the rest who might use an assortment of methods to fly including using first class commercial.

The report found that a normal traveler in all three sections are overwhelmingly male (around 90 percent) and contains about a one-in-five probability of working within the finance world.
Other well represented businesses included real estate, industrial conglomerates and engineering.
The average average wealth for a jet builder was $1.5 billion, #1.1 billion for members and $670 million for people who mix between charter and commercial first course.