Filed under: Luxury Travel & Hotels
Late-model business jets aren't as cheap as they used to be, and the surplus on the market has dropped a bit, but new aircraft deliveries haven't returned to earlier levels. Flying hours have fallen, and constraints in the credit markets make it difficult for people to put the requisite cash together to buy and operate a private jet. Following five years of record growth, the NY Times reports, last year was dismal. In the second half of 2009, business jet shipments plunged 33.7 percent year-over-year to 870. High-end propeller plane sales fell 17.6 percent to 441 for the same period.
But, that's all in the past.