In the last year, Colibri Aircraft’s sales team have seen a dramatic increase in clients buying a private jet for the first time. 21% of our clients this year have been first-time buyers – a 50% increase over 2014. The average price of a jet we sold to a first-time buyer in 2017 was 3,680,000 USD.
We believe the growing number of first-time buyers is being fuelled by the rapidly increasing number of high net worth individuals, falling price of jets across all segments, and a large increase in people chartering private jets for the first time and then deciding to own aircraft instead.
Managing Director Oliver Stone said: “There is a rapidly increasing number of high net worth and ultra-high net worth individuals, and this means a bigger base of potential private jet owners. In Europe, there are around 3.94 millionaires and this is set to increase by 11% to 4.36 million by 2016. All of this is leading to more people chartering private jets and for some of those that do this, they eventually decide they want to own their own aircraft.”
We highly anticipate these first-time buyer levels to continue to increase and are excited about the prospect of more individuals enjoying the benefits and joy that private aviation brings.
Note: Analysis of millionaire growth from Knight Frank Wealth Report 2017
