Royal Jet's Chief Executive Officer Shane O’Hare Predicts 6-8 Percent Regional Growth for Private Jet Travel
Thursday, 19 April 2012
Abu Dhabi, Royal Jet President and Chief Executive Officer Shane O’Hare this week predicted that the regional market for private jet travel would grow at 6-8% in the region this year and next, with Royal Jet itself forecasting 15% growth this year. Both figures are well ahead of the 2-3% annual growth forecast for business jet travel predicted by the Federal Aviation Administration (FAA) for the next 20 years.
O’Hare was speaking at the Global Aerospace Summit in Abu Dhabi on 16-17 April: “Major airports need to either encourage private investment in the development of improved Fixed Base Operation facilities or invest in their own infrastructure as this sector grows.“I am surprised at the basic standards offered by many airports worldwide for private jets. Some major airports process VIP private jet customers through airline terminals, which defeats the primary reasons for private jet travel: speed, security and privacy. Even the provision of adequate parking for business jets needs to be factored into investment plans.”
O’Hare told delegates he predicted more consolidation at the smaller end of the private aviation sector due to competitive pressure. At the higher end of the market, the quality of product and service delivery would determine which companies survived and thrived, he said:“Some people believe the private jet industry is driven by price, but I believe that the keys to success are product and service. Price is a factor, certainly, but the future belongs to those operators who excel at product and service delivery.”
Royal Jet Chief Executive Officer remarked the private jet market could fuel the development of global alliances among operators, along similar lines to those in the commercial airline sector. He added that regional growth in private jet travel would need to be supported by more high-quality fixed base operation and maintenance, repair and overhaul facilities.
Source: Royal Jet