Monarch Air Group: Private aviation more popular than ever
Private jet provider Monarch Air Group sees the private aviation sector, known for exclusivity and high levels of customisation, rapidly becoming accessible. The industry is growing on multiple fronts, driven by more orders, an increase in on-demand charter, more hours flown and new economies joining this trend.
The South Florida-based group has seen an increase in competitors, especially in their backyard, one of the most important executive aviation hubs in the world. “On one side, all you need is one aircraft to be an operator,” said president David Gitman. “Brokers are increasing in number but not all have a reliable pool of aircraft to choose from, not to mention a professional operations team that will monitor every aspect of your flight and be ready to step in and assist when needed.
“That relationship is built over the years and is what makes the main players in the business maintain high levels of market share.”
That said, new players are entering the market. One model is the seat-sharing concept, which some argue defies the culture of being able to choose a specific aircraft and who you fly with. Price is low and therefore it brings ‘private aviation’ to the masses. However, some disruptors have recently been acquired, notably the acquisition of JetSmarter by Vista Jet, Travel Management by Wheels Up and PrivateFly by Directional Aviation.
“We have to embrace that new clients are understanding the value of private aviation,” Gitman added. “It’s a solid and sustainable business, therefore it’s expected that new players will try to get a portion of the market. For the client its always best to have more options; it’s our job now, the experienced providers, to continue raising the bar and investing resources in all segments of the market.”