The Jet Business BBC News Feature
And now we go to Steph, who is shopping for a private jet—or at least Steph finding out who has the money to shop for a private jet.
“Morning, good morning to you both! Wait until you see this. This is one unbelievable place here. It's the world's first private jet showroom where anyone can pop in and buy a plane. Now, let me just show you around. You can see here, this is the trading floor where the sales reps are buying and selling planes. About 80 percent of what they sell are second-hand ones, and they will cost anything from a million pounds to 85 million.”
“And this wall here basically shows the clients what exactly they'll be getting for their money. It will show the different specs of the planes, what size, and they even do a full-size model of what the inside will look like. And then through here, this is the jazzy bit. This is basically a mocked-up version of the inside of a private jet. Now, this is probably the first and the last time I'll ever get to go in one of these, so don't mind if I milk it!”
“You can see here the pure luxury of the place. They've got everything—TVs, a lovely setup for your dinner. You know you're not cramped in with a million other people on the plane. There's places for your cigars, should you so need one, and wine and all kinds of manner of things.”
“Now, if you just come over here, we can meet the owner of the business, Steve Vasano, who has been in the industry for 30 years, haven't you, Steve? Good morning to you! Tell us, who are you selling these to?”
“Well, really our business is probably the most global business of anyone in the world. So, we're really grabbing the ultra-high net worth individuals, the most successful executives of the expanding corporations in the world, and a lot of government agencies that really come from Africa, the Middle East, the CIS countries, and Europe. Eventually, all these people who can afford to have a jet come through London, and they're all coming through Belgravia, Knightsbridge, and Mayfair. Eventually, they come around Hyde Bar corner, and we're hoping that they come and visit us here.”
“So it's basically essentially an advertising space as well? You're hoping to catch their eye when they're passing in one of their posh cars?”
“Yes, it's both. It's an advertising space, that's true, but it's really an information library that we can educate all of these clients in really one easy method, rather than having to go through a multiple three-month process that it would normally take.”
“And you've been here a couple of days? Any inquiries yet?”
“Yes, already! We've been open for four days. Already we've had three very, very good inquiries.”
“Okay, well, good luck with it. Now, obviously, you heard from Steve, who thinks that he's going to be able to sell them. But just to talk about how the aviation industry is doing as a whole, I'm joined by Charles, who's an aviation expert. Good morning to you! Do you think it's possible to sell these planes?”
“Well, at this very top end of the market, demand is still very strong. The super-rich, even these days, are still plenty rich enough for this sort of travel. I think where the industry is struggling more is what I would call the entry-level people taking those first few steps from airliner service to the smaller jets. It's just not happening as much as it was before the financial crisis. Until that starts up again, it's hard to see how the industry will expand its customer base.”
“And so it seems it's a lot about luxury then?”
“Oh, the luxury is self-evident. But if I may say, I think really a more significant offering from private aircraft like this is the time that it saves you, the flexibility that it gives you in your business and personal travel. And frankly, if I had the money for one of these—which I'm sure I never will—that's what would bring me back to this business to buy a jet.”
“Okay, thanks for your time. I’m going to be here throughout the morning looking to see exactly what all the mod cons they've got here and whether they really can sell them. What you want to do, Steph, is go up in one. Can they sort that out?”
“Yeah, they've got windows, so you can see it feels like you're still flying. Actually, they've got like a sky going past it.”
“Yeah, but I bet your ears aren't popping though?”
“No, there's no turbulence either. I'm not falling about all over the shop.”
“Okay, so back with you later on. Enjoy yourself! Actually, one of those leather comfortable sofas... Yes, a flight without turbulence is always a much better flight, isn't it?”