Singapore's private jet market has experienced a significant surge in demand, exceeding pre-pandemic levels. Business jet departures from Changi and Seletar airports have increased by about 30%, with the number of private jets based in Singapore also rising. Several charter companies report a substantial increase in flights and charter requests, attributing the growth to Singapore's business hub status and the post-COVID travel boom.
cards interface. Give it a try. SINGAPORE : The private jet market in Singapore has taken off, outstripping levels seen before the COVID-19 pandemic, with industry insiders citing the country's business hub status as a key driver of such growth.
While official figures for the number of takeoffs and landings for private jets in Singapore are not available, Mr Davies said his team constantly monitors aircraft entering and exiting the region.Private jets can either be owned by individuals or chartered out to clients by charter firms for business, medical or leisure purposes.
Mr Toomey added that the firm has made over 40 per cent more charter aircraft available compared to 2021, giving clients"a bit more choice now". In 2023, aircraft management firm Air 7 Asia bought a hangar at Seletar Airport to maintain its fleet of seven aircraft, up from just one four years ago. The region is the third-largest market for business aviation worldwide, trailing North America and Europe“We are right smack in the middle,” said Mr Leck. “You can use us as a platform to capture opportunities in a growing Asia-Pacific market.”WHY IS SINGAPORE ATTRACTIVE?
Agreeing, Mr Leck said that with Singapore's growing economy comes more business investment and hence more business travel. Then there's also Singapore’s appeal to ultra-high net worth individuals, defined as those with at least US$30 million of net worth. Seletar Airport is where private jets predominantly take off and land in Singapore. Mr Adam Cowburn, managing director at Alton Aviation Consultancy, said demand around the world was significantly stimulated by COVID-19.
Agreeing, TAG Aviation Asia's commercial director Simon Bambridge said an uptick in 2023 was likely due to post-pandemic “revenge travel”.
PRIVATE JET SINGAPORE BUSINESS AVIATION DEMAND TRAVEL
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore Aims to Strengthen Equities Market with Private Investment and High-Growth ListingsSingapore is exploring strategies to bolster its equities market by enticing more private investment and encouraging promising companies, particularly in fintech and sustainability, to list on the Singapore Exchange (SGX).
Read more »
Singapore Urges Private Sector to Stop Using NRIC as AuthenticationFollowing privacy concerns raised over the disclosure of full NRIC numbers on ACRA's Bizfile portal, Singapore's Minister for Digital Development and Information, Josephine Teo, urged private sector organizations to immediately cease using NRIC numbers as authentication factors or default passwords. While the government acknowledged the lapse in coordination that led to the incident, Teo emphasized that the government takes public concerns seriously and is committed to protecting personal data.
Read more »
Report says Singapore money laundering suspects spent nearly S$38 million buying Dubai properties Singapore%
Read more »
Singapore stocks traded lower on Friday morning—STI fell 0.5% Singapore News%
Read more »
Oatly announces closure of Singapore factory, impacting 34 employees Singapore News%
Read more »
Singapore stocks rose as trading began on Monday—STI gained 0.2% Singapore News%
Read more »