Early 2008 has seen muted interest, if not a full-blown downturn, in demand for executive charter service in Europe, according to leading charter brokers. “While business levels are still good, corporate client requirements seem to have flattened in the past three to five months,” said David Macdonald, sales director for private jet business at Air Partner (Booth No. 287), but he added that bookings by wealthy individuals have remained constant.
Air Partner has reported that its block charter JetCard activity continues to grow, with a claimed 50-percent increase in sales since last July. It attributes as much as 95 percent of this new business to wealthy individuals, who appear immune to the U.S.-based credit crisis, which continues to wreak havoc in global financial markets.
Nevertheless, in the past six months Macdonald has noted “a tightening of [corporate-market] belts.”
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