The history of private jet rentals or air chartering as it is called is not very old. It was initially designed to offer a faster and cheaper mode of travel for business executives. Further owning an aircraft was considered very high and therefore hiring them as and when required was considered to be a better option. They, of course, came with a number of advantages and convenience and ease of use was considered to be on top of the list. But one has to dig deep into the history sheets to find out as to when the business of private jet rental actually took off.
However, experts believe that the concept of hiring private jets became famous after the Second World War. When the war ended in 1940, there were quite a few surplus aircraft. The owners had to find a way out to hire or charter these aircraft so that they could fund the money needed to maintain these jets. The actual golden phase for private jet rentals is supposed to have taken place in the 1960s. This was the time when the concept of corporate jet was introduced in the air charter industry. The Learjet 23 was the first private jet carrier and this perhaps set the trend for the impressive growth of private jet rentals.
It Has Now Moved On
Over the past 50 years, the growth story of private jet rental services has been quite impressive and today it includes midsized and heavy aircraft. But finding these jets for hire was a problem a few decades ago and the same also has been solved with the entry of big players. The internet has certainly made a big difference in the growth of jet rental services. They are now able to advertise their prices and other features and also other details such as location, availability and other such things to prospective customers quite easily. This change has taken place since the 1990s when the internet wave started sweeping the world. The business evolved and took some concrete shape and today it is possible to book a charter flight from any part of the world provided one has the access to a good internet connection and of course the money needed to hire these charter jets.
The Business Is Seeing New Models
The internet technology also saw the emergence of many new business models in the aviation charter industry. These included diversification of ownership, jet cards or membership programs and also on demand jet charter services. The growth of facilitator services or brokerage services also made a big difference when it came to bringing customers and rental service providers on the same page.
The future for private jet rental services certainly looks quite good. Apart from the emergence of internet-based business models, technology related to air planed is also undergoing changes. We might see the launch of VLJ or Very Light Jets which will not only bring down the cost of charter services but also make it more customer-specific and convenient. However, this might take time and it will perhaps take a decade or so before it becomes more affordable and reaches a much higher critical mass.
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