A recent study conducted by the National Business Aviation Association (NBAA) has revealed that more than 20 % of all business aviation users felt more productive while onboard a private jet compared to working in their offices. Moreover, their counterparts using the services of traditional carriers have reported experiencing a 36% drop in productivity. With that in mind, it seems that time saving and unchallenging accessibility are not among the main reasons to choose business aviation anymore - its increased productivity that stands out the most.
Driven by the growing interest from CEOs and top managers, the global business aviation fleet keeps expanding at an unprecedented rate and is expected to comprise 22 650 aircraft by 2023, according to the recent Bombardier market forecast. In addition, studies reveal that apart from time saving and unchallenged accessibility, private flying contributes to increased productivity, which is actually reflected on the company's balance spreadsheet.
For instance, one Oxford Economics report estimates that around 10% of the revenue generated from business-related trips can be attributed to business aviation. In addition, private jet users are more successful at delivering value to their shareholders. In fact, according to the NBAA Business Aviation Fact Book 2014, business jet travellers generated 245% higher return for their shareholders (dividends plus stock price appreciation) than those travelling by other means of transportation.
"Currently, over 6 500 private aircraft are equipped with Wi-Fi connectivity, enabling CEOs, managers and entrepreneurs to perform their day-to-day tasks. It allows them to remain highly efficient during their flights, thus saving valuable time. Moreover, there is way less distractions whilst being on board of a private jet, as opposed to working in a busy office," shares Vitalij Kapitonov, the CEO of KlasJet. "Interestingly enough, even professional baseball teams are said to be 60 % more likely to lose their games due to the discomfort and hassles of a long commercial flight. Of course, while a lost game may leave thousands of fans with their hearts broken, losing time or efficiency in a vibrant business sector can accumulate millions of dollars in losses over a failed deal.”
In addition to the enhanced performance, business passengers report that they spend twice less time sleeping or resting in a private jet than those travelling with commercial carriers. Thus, according to the survey conducted by Louis Harris and Associates, with more time on their hands, business aviation users devote nearly half of their time (48 %) onboard to work-related meetings, conferences and discussions with other employees in person, on the telephone or via Wi-Fi.
“While business aviation is often commended for the increased time efficiency and flexibility it offers, there are way more benefits it actually provides. What was once just a flexible and convenient way to get from point A to point B, flying private now grants enhanced connectivity and work-friendly environment that wins over the majority of business passengers. With more and more users each day, no wonder that in 2014 alone business jet shipments increased by 6.5%,” concludes Vitalij Kapitonov, CEO of KlasJet.