Millennials now account for more than half of booked business jet charter flights, according to London-based operator Luxaviation UK. The company reported this week that travelers in their 30s and 40s are now a larger part of its customer base than those aged between 50 and 70.
According to Luxaviation UK CEO George Galanopoulos, the company is increasingly taking flight bookings from affluent younger people working in industries such as technology, finance, and private equity. These clients are particularly drawn to light and midsize business aircraft for face-to-face meetings, he said.
The millennial demographic also appears eager to explore more varied destinations than their seniors. “Social media is making travel less exclusive, as users can easily find photos and videos of hidden spots,” Galanopoulos commented. “So there is growing demand for flight access to undiscovered locations that can be shown off to friends for the first time. They want to be there before all the online hype, or at least ahead of the trend. Saudi Arabia, for example, is currently piquing the interest of some of our clients who are eager to travel there while it is still relatively new to the UK market.”
Luxaviation UK is also seeing younger clients inquiring about aircraft management services, which the company said is evidence of wealth transferring to the next generation.