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Bitlux President and Founder, Kyle Patel, shares his vision on how private aviation’s activity impacts job creation, innovation, technology and local economies.
Recently, we’ve seen growing incidents of activists and pressure groups deliberately defacing articles in protest attempts. Last month, two women were charged with criminal damage after two private jets were sprayed with paint at London’s Stansted Airport.
They were protesting on behalf of ‘Just Stop Oil’ and trying to confront the private aviation industry, but not in a vastly appropriate manner, and were accused of aggravated trespass and interfering with national infrastructure.
Private aviation may seem like a luxury and elitist to most mere mortals, but it also plays a critical role in driving economic growth. It has also created jobs in what some consider a very niche industry. It may be surprising to know that private aviation also makes a significant contribution to economic growth and global trade.
Of course, the industry majorly contributes by boosting corporate and business travel. It is well known in business that ‘time is money’ and traveling by private jet is a crucial time-saving tool in the lives of business executives, professionals, and UNHWIs. They need to use their time as efficiently as possible to close deals, work onboard proactively in privacy, and attend numerous business meetings around the globe.
Private jet travel is known for its flexible nature and ability to adapt proficiently to a fast-paced, ever-changing business world. During the pandemic, at Bitlux we witnessed first-hand just how crucial private aviation is, and its resilience was most definitely proven. Smaller and remote regions, not served by commercial airlines, rely heavily on private aviation for regional travel to larger cities, for the delivery of supplies, and to provide an economic lifeline to such communities.
Remember the critical services private aviation offers in an emergency or crisis, like firefighting, emergency evacuation, and medivac services. They provide life-saving services in times of need or disruption and need a fast response time.
By the numbers
The industry responds quickly and efficiently to changing market conditions, which boosts profit and creates more competition. Businesses’ ability to reach remote locations and avoid airport congestion results in better productivity, which helps create more jobs in the industry, which in turn creates more economic growth.
According to the National Business Aviation Association (NBAA), the business aviation industry alone supports over 1.2 million jobs in the US. The sector accounted for a total economic contribution representing $247 billion in output, translating to 0.62% of the GDP, according to PwC. In comparison, the European Business Aviation Association (EBAA) suggests that over 450,000 people work within the industry. There will undoubtedly be similar growth and opportunities in up-and-coming areas such as Brazil, Mexico, and Asia.
Producing private jets and the continued demand for more technologically advanced aircraft, incredibly fuel-efficient aircraft with less emissions, needs more comprehensive research and development and creates more jobs within the aviation industry. In aircraft manufacturing, a substantial workforce of engineers, technicians, and assembly line workers are already developing new aircraft.
Owners of private jets have to make significant investments in their aircraft in maintenance, hangarage, and parts manufacture and repair, supporting countless jobs in the industry. Skilled workers ensure the safety and reliability of private jets, which is what the industry is so known for.
Private aviation also relies heavily on other services to create the ‘seamless’ air travel experience. This involves staff at fixed-based operators (FBOs), catering and concierge services, ground transportation, and much more. The industry also helps regional airports and their infrastructure develop and grow, and of course, this provides jobs in construction, maintenance, and air traffic control, as well as ground staff at the airport.
The private jet industry also affects tourism in that UHNWIs who travel for leisure often have preferences for remote destinations and discreet, hidden-away resorts. The influx of visitors from this type of tourism helps to boost the local economy and creates more work opportunities in somewhat remote locations that might otherwise suffer.
In a nutshell
In conclusion, private aviation is not just an industry perceived as luxury private jets owned by celebrities and wealthy individuals as they travel on business or vacation. It employs a large number of skilled professionals to ensure the seamless private jet experience and that travel by private jet remains safe and efficient, traits it is well known for. This, in turn, filters out further to other industry sectors such as tourism, maintenance and repair shops, and airports, as well as contributing to local and global economies.
Although some may see only a narrow-minded picture of what the industry represents and react accordingly, this is not a clear perspective and is purely a reactionary response. Private aviation fuels economic growth and offers diverse opportunities in an exciting, innovative, and always-progressing industry. This benefits not only the individual but also their communities and the global community.
Bitlux delivers various services across the air charter industry, but Executive Travel is closest to heart. Whether you are flying for business or leisure, Bitlux provides a top-tier private jet service that actively exceeds expectations.
flybitlux.com
BlueSky Business Aviation News | 10th October 2024 | Issue #767
