Demand for private jets takes off as more first-time buyers are on the hunt for a piece of mile-high luxury

Oliver Gill
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The average price of a jet sold to first-time buyers in 2017 is $3.7m (£2.8m) (Source: Getty)

The number of first-time buyers of private jets has rocketed, with increasing numbers of high net worth individuals ready to splash the cash on their very own piece of mile-high luxury.

Some 21 per cent of pre-owned aircraft sold this year have gone to first-time buyers, an increase of 50 per cent compared with 2014, according to research released today.

The average price of a jet sold to first-time buyers in 2017 is $3.7m (£2.8m), according to the salesmen and women from Colibri Aircraft.

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The overall increase in first-time buyers has also contributed to a rise in the number of pre-owned private jets being sold. Colibri said 1,103 pre-owned jets have been sold this year so far compared to 979 for the whole of 2016. For Europe alone, the corresponding figures are 89 and 95.

“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," said Colibri managing director Oliver Stone.

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.

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