Luxaviation UK is experiencing a shift in its customer demographics, with millennials now making up 50% of its business jet clientele.
With a clear transition from charter customers traditionally in their 50s and 60s to a younger generation of business professionals in their 30s and 40s, this group are turning to small and midsize jets to facilitate a practical need for business and leisure travel.
New and emerging industries, particularly clients working in tech, finance and private equity, are playing a key role in this demographic shift.
George Galanopoulos, CEO of Luxaviation UK said, “As the tech sector continues to rapidly grow, and businesses become more globalised, the value of face-to-face meetings cannot be overlooked, and business aviation affords customers the ability to get across the globe privately, quickly and reliably.”
Travel to untapped destinations is also on the rise. Galanopoulos said, “Social media is making travel less exclusive, as users can easily find photos and videos of ‘hidden spots’. So there is a growing demand for flight access to undiscovered locations which can be shown off to friends for the first time. They want to be there before the online hype, or at least ahead of the trend. Saudi Arabia, for example, is currently piquing the interest of some of our clients who are eager to travel there while it is still relatively new to the UK market.”
Luxaviation UK is also seeing a younger client profile enquiring about aircraft management services, after taking ownership of their own aircraft, which reflects the high-net-worth wealth transferring to the next generation.
Galanopoulos said, “We’re proud to see younger business professionals in the UK recognising the strategic value of business aviation for global travel. With many turning to the digital world for their news and information, we’ve made an effort to build a social media presence, both as a company and individuals, to highlight the benefits of private aviation to this new demographic.
“The EBAA recently published a report highlighting that business aviation contributed €100 billion in economic value across Europe in 2023. It’s great to see the importance of business aviation continuing to translate across to younger generations.”
Patrick Hansen, CEO of Luxaviation Group said, “We are pleased to introduce a younger generation to private travel, as they consider the benefits of charter, due to its flexibility and reliability. Millennials also shop digitally, with a growing number purchasing charter flights through the Luxaviation app.”
