Demand for private jets takes off as prices fall

[PARIS] Once the preserve of the ultra-rich and celebrities, a flight on a private jet is now available for as little as 550 euros (S$939) an hour, with technology and competition helping to bring down sky-high prices.

A growing number of firms offering such flights have emerged in recent years, some employing online facilities to match global demand, thereby improving fleet efficiency and contributing to cheaper flights.

Adam Twidell, chief executive and founder of PrivateFly, said that there are more than 500 operators and over 2,500 individual aircraft in the European charter market alone, yet "over 30 per cent of flights are flying empty, repositioning for their next charter".