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More Successful Women in Business AreTaking Off – in Corporate Jets

70% of All Travel Decisions Are Made by Women

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An Increasing Number of Business Women Are Traveling by Corporate Jets

According to the National Business Aviation Association, there are about 11,000 business jets in the U.S. and nearly 75% are operated by small- to mid-size companies and entrepreneurs. These smaller operations are attracting an increasing number successful business woman seeking to enjoy their financial success as well as to facilitate better balance between family and business life.

Business Women Place Convenience High on Their Travel Priorites

Women who have the financial resources are now opting to use private jets as a more convenient and faster way to travel and one of the reasons is to have more time with family. And, in some cases, women are even using jets to transport family when commercial travel would present time delays, or logistical problems.

Large carriers are also benefiting from an increase in the number of women business travelers. XOJet, one of the largest private jet companies in the U.S., reports that this luxury method of travel is now being favored by an increasing number of business women. XOJet estimates that 15% of customers who use their jets to travel one hundred or more hours per year are women.

Female entrepreneur, Mary K. Swanson, of Phoenix, AZ, often opts for private jets over commercial flights. As the busy, in-demand founder of the Swanson Family Foundation, an international philanthropic organization, Mrs. Swanson says private jets enable her, “ to say yes when I would otherwise say no.”

Traveling by private or corporate jet is expensive – significantly higher than even the most expensive first class ticket on a commercial airline (which can cost as much as $5,000). And, in addition to hourly fees, jet travelers must also pay trip taxes and government fees, and, in some cases, hundreds of thousands of dollars in advance to guarantee future flight availability during the coming year. Still, to some, it seems like an overall bargain option when you factor in time and cost savings on triple-digit salaries, and, as in the case of a growing number of women, price takes a backseat if it means being able to spend more time with their families.

But this luxury travel option could change someday soon if smaller corporate jet companies are required to contribute more towards the cost of upgrading and maintaining the outdated air traffic control system in the U.S.

Should The Private Jet Industry Contribute More to Keep the Skies Safe?

In mid-2008, commercial airline companies are paying for nearly 90% of all costs to keep our skyways running, but they only account for about 75% of all flights. Commercial airline companies are now pushing for the growing corporate jet industry to contribute a larger share.

While financial earnings for travel on commercial flights are going down, the private flight industry is remaining stable. In fact, private aviation statistics are showing an increase by 4 to 5 percent.

This means more corporate jets are putting a greater strain on aviation facilities, without contributing financially to an already overburdened system.

The Impact on Women's Travel Statistics

How does this affect women’s travel industries? Rather significantly. According to The Pacific Asia Travel Association:

  • 70% of all travel decisions are made by women;

  • More than 50% of all business travelers are women; and

  • In 1995, 238 million women traveled without men; and there were more than 75 travel companies in the United States that specifically develop itineraries geared towards serving women or that offer women-only adventure and vacation tours. Additionally, that same year, women purchased more than $55 billion in retail items for pre-trip equipment.

Source:

By Joe Sharkey. New York Times News Service. More Women Traveling by Private Jet .” August 6, 2008.

Eric Thomas. ABC 7 News. “Aviation Battle Over Rise In Corporate Jet Travel.” August 8, 2006.

Bill Hastings/Lyn Hikida. PATA Communications. “Women Travelers: A New Growth Market.” Access Date: August 7, 2008.

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