WHAT CAN A MAJOR GLOBAL EVENT REALLY DO? BEYOND THE buzz of headlines, photo ops, and the palpable excitement of athletes, fans, and celebrities flocking to the host city, these events are also a significant driver of global travel, particularly for high-net-worth individuals (HNWIs). The Olympics, one of the world’s largest and most prestigious events, is a prime example of how such spectacles create a ripple effect across various industries. From tourism to media, the impact on the host nation’s economy is unmistakable. Further, it’s noteworthy how global events like the Olympics fuel the business aviation sector.
HNWIs, dignitaries, and corporate executives travel in private jets, seeking flexibility, convenience, time savings and the ability to arrive fresh and ready for business or leisure. The latest edition of the Olympics was no exception, with private jet activity surging to meet the demands of the high-profile attendees. According to data from WingX Advance, an aviation industry intelligence company, the Olympics significantly impacted business aviation, driving increased movements across several regions.
The opening ceremony and key sporting events became hotspots for private jet traffic, particularly from the United States (US), with many flights passing through the United Kingdom (UK). This Olympic surge helped the business aviation market recover from what had been a sluggish first half of 2024. WingX Advance reported that year-to-date trends, which had been flat, started to climb back, marking a turning point for the sector.
This story is from the Issue 10, 2024 edition of SP’s Aviation.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Issue 10, 2024 edition of SP’s Aviation.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
KLM: THE WORLD'S OLDEST AIRLINE STILL GOING STRONG!
In 1930, KLM began scheduled passenger service between Amsterdam and Jakarta. The Fokker F.XII plane took 10 days to reach, including 81 hours of flying time. It was the world's longest scheduled flight before the Second World War.
SPICEJET'S $90 MILLION DEAL WITH CANADIAN Q400 PLANES
SpiceJet has successfully resolved a significant dispute with Bombardier over a fleet of Q400 turboprop planes in the form of a $90 million settlement, marking the end of a prolonged legal battle that also has broader implications for the Indian aviation sector
TAPPING THE UNCHARTED WATERS
Seaplane services are expected to transform regional connectivity in India, boost tourism, create jobs, and foster economic development, particularly in hard-to-reach coastal and inland regions
FLIGHT PLAN FOR NAVIGATING BUSINESS AIRCRAFT FINANCING
The business aircraft financing market has witnessed significant growth post-pandemic, driven by increased demand for private and chartered flights
TRUMP'S VICTORY: WHAT WILL IT UNFOLD FOR INDIA
For India, one of the most significant aspects of Trump's return will be his approach to China. There is a possibility that Trump will continue to view India through a transactional lens, prioritising trade deficits and economic returns. The role which the US plays as the global tech powerhouse is the model for future growth which cuts across economy to security. In all potential, there are mostly positive signs, rather another defining era for Indo-US relations could unfold if indicators are right. The convergence of mutual interest for both democracies is too obvious.
ANTARIKSHA ABHYAS-2024
The first ever tri-services Defence Space Exercise was a significant building block towards holistic capability in global space operations
INDIA'S GSAT-20 SATELLITE LAUNCHED
Symbolising growing technology, growth & collaboration, this mission highlights India's dedication to leveraging space technology for societal progress, expanding its role in commercial space ventures while underscoring the potential for India's heavy-lift launch vehicles to capture future opportunities
A LEGACY OF PRECISION, POWER, AND POISE IN THE SKIES
With a vision for comfort, excellence and sustainable aviation, Dassault's Falcon family embodies the peak of technological and environmental advancements
INDIA'S RICHEST BUYS BBJ
Private jets play a strategic role in allowing business magnates like Ambani to optimise time management, particularly critical given his global business commitments and a packed travel schedule.
PRIME MINISTER INAUGURATES AIRCRAFT COMPLEX FOR MANUFACTURING OF C295 AIRCRAFT
Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez jointly inaugurated the TATA Aircraft Complex for manufacturing of C295 aircraft at TATA Advanced Systems Limited (TASL) Campus in Vadodara, Gujarat on October 28, 2024.
