VistaJet and Wealth-X Release Report on HNW Jet Users
Ian Sheppard | April 10, 2018
Only the super-wealthy (individuals and companies), often meaning those with more than $1 billion in net assets, own their own jets, according to a recent report by Wealth-X for jet operator VistaJet. “The Jet Traveler Report: The Global Perspective on Who Flies Privately and How” also corroborates the view that younger high-net-worth individuals (HNWI) prefer to charter or belong to membership schemes, rather than own aircraft. Winston Chesterfield, Wealth-X director of customer support, speaking at the launch of the report in London on March 26, said that his company looked at three main groups—owners, members of a private flying program (such as VistaJet), and “the wider ultra-HNWI group” who might charter, for example. It was clear, he said, that for any of these categories aircraft users tend to have much higher wealth than Wealth-X’s threshold for an ultra-HNWI, at $30 million. “We think there are 226,000 ultra-high-net-worth individuals worldwide,” said Chesterfield, who went on to explain that in his three groups, the average wealth levels were $1.5 billion, $1.16 billion, and $610 million, respectively.