Most rich people opt to charter than own aircraft
In Asia Pacific, wealthy individuals are less inclined to buy a private jet—new or pre-owned—in the next year. They are, instead, more interested in chartering business flights, according to Asian Sky Group (ASG).
In its 1st Quarter 2025 report, ASG says the appetite to buy an aircraft was at a three-year low in the first quarter at 51.1 percent of survey respondents. This was lower than 61.6 percent a year ago and 58.2 percent a quarter ago.
Based on the survey, about 18.9 percent of respondents will buy a new aircraft—lower than 25.8 percent last year and 23.3 percent in the previous quarter.
Meanwhile, 32.2 percent are looking at buying a pre-owned aircraft. This showed a decline from 35.8 percent last year and 34.9 percent in the previous quarter.
On the other hand, interest in chartering aircraft hit a 12-month high in the first quarter at 58.1 percent. These respondents are keen on leasing an aircraft in the next three months.
“In the context of declining economic optimism and volatile markets, chartering offers an attractive alternative to long-term investments such as purchasing pre-owned jets,” ASG says.
“The absence of upfront costs and reduced financial risk make chartering an appealing option, especially for those who have relatively limited usage,” it adds.
At end-2024, the Philippines had 50 private jets in its fleet after taking delivery of two new aircraft. These are Citation 525C (CJ4) and Pilatus PC-24–both four to eight-seater planes designed for short to medium-distance flights.
