Winter Olympics To Lead To A Spike In Demand For Private Jets
Hangar 8, the UK-listed global aviation management and charter company, believes the Winter Olympics in Sochi, Russia, will lead to a spike in demand for private jets.
It’s analysis(1) of industry data reveals that for the Turin Winter Olympics in 2006, Turin Airport had around 346 business flights over the course of the Games, compared to 101 during the same period a year earlier. This represented an increase of 243%, and nearly 16% of all business flights into the airport during 2006 took place during the Games.
Hangar 8’s analysis reveals that Adler Sochi airport was Russia’s sixth busiest business airport in 2013 with 329 business flights.
Dustin Dryden, Chief Executive Officer of Hangar 8, said: “Big sporting events such as the Olympics usually lead to a significant increase in the use of private jets. We now have a fleet of over 50 aircraft that can operate from anywhere in Europe. Many also have the range to fly from Europe to Africa, the Middle East and America. Given this, plus the fact that we have an established base in Sochi, we are well-positioned to take advantage of the anticipated increase in demand for private jets around the Winter Olympics.”
Looking at other major sporting events, Hangar 8 analysis reveals that three of London’s busiest business airports – Luton, Biggin Hill and Stansted – saw increases of 12%, 23% and 13% in business flights respectively during the weekend when the Champions League final took place in Wembley last May, when compared to the same time in 2012. Similarly, during the London Olympics, these three airports saw increases of 17%, 20% and 77% in business flights when compared to the same period the previous year.
Oxford-based Hangar 8 specialises in a very personal, private, bespoke, service, accepting clients by referral. It is the one of largest private aircraft operator in the UK and amongst the top five in Europe and specialises in operating mid-size and heavy aircraft. All of the private jets under management at Hangar 8 have the range to fly from London to Europe, Russia and the Middle East, with some capable of flying non-stop to India or the US.