1. Wealth
February 21, 2011

FT: Private jet flights recover

By Spear's

Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again.

Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again.

The number of business flights – which includes celebrity, state and business hire – grew 5.5 per cent last year, in both European and US airspace, according to figures from Eurocontrol, the air traffic management co-ordinator, and Argos International, an aviation market research company.

While private take-offs have not yet returned to 2007 levels, a 9 per cent surge in Europe so far this year – compared with January in 2010 – suggests luxury flying is coming back into ­fashion.

Trips on private jets took off in the pre-crunch years, as executives and self-made millionaires were swayed by flexible schedules, lack of baggage and security restrictions, and departure lounges uncluttered by economy-class travellers.

To read the full story, visit ft.com

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