Name: Inside the private jet industry
Uploaded: 2015-04-27
Duration: 2 min 38 s
Description: Inside the private jet industry

So tell me what Victor is. Well, we're a brand new, online, on demand private jet charter service. We just launched in the U. S. a couple of weeks ago. And our whole raison d'etre is to make private jet charter faster and easier than ever before. And make the whole process totally transparent. You focus on the high net worth individual, yes? What is it about that market, that customer, that, that is attractive to you? Well first of all their cash rich and time poor. And they always want to know whether they're getting a good deal and the whole world of private jet charter up until now has been completely opaque. So generally, when you look to book a private jet on the spot market through a broker, you have no idea who you're chartering with until you turn up at the airport. You don't know what the real price is, and you certainly don't know what the markup is that the broker is making. Tell me a bit about how big this market is. Well, it's huge and it's growing rapidly. There are over 15, 000 people who are worth over $ 100 million in the world today. Wow. And that's up 42 % from 2008, according to Boston Consulting. That's a massive market and it's growing rapidly. What kind of High net worth individual is using your service. Is it an executive? You know, and are they using it for business or pleasure? Well, I mean, the range is huge. I mean, we've got professional golfers, right the way through to rock stars and musicians, corporate CEOs through to owner- founder entrepreneurs. People who are serial business men, who are starting businesses all over the world. They see private jet charter as a way of just getting them from A to B. In fact, it's a luxury and the luxury is it; s effortless and timeless. What are your growth plans? Clearly you're focused on a few markets now. What, whats next? Well the private jet charter market The spot charter is worth about $ 14 billion a year, and in U. S. that's about seven. So that's half the global market here, which is why we've come to the U. S. [ UNKNOWN ] service. A lot of our customers are already in the U. S ., and they've been asking when are you going to come to the states. When are you going to set up your service here. Is, are the markets any different? Just curious. No, intrinsically they're the same and they face the same challenges. So, if you need a jet you need to be able to get one quickly simply and easily. You don't need to run the whole gauntlet of shopping different brokers. Just get your app out. Loot for your jet, see the operator, see the tail number, check out the price, and then you make the decisions you wanna fly.