Despite market fluctuations and global tensions, demand for private jets remains strong, although travel habits among the wealthy are evolving, as stated by Patrick Gallagher, President of NetJets. He shared with CNBC that this summer is expected to be another successful travel season for NetJets, with affluent Americans flying both domestically and in Europe. “Looking ahead, there are no signs of decreased demand, even amid this uncertain market climate and tariff worries,” Gallagher noted. He closely monitors key indicators, such as existing customers’ flight frequency, their booking notice, and shifts in travel destinations. So far, he has not observed any signs of decline in NetJets’ business. Gallagher did mention a slowdown in Europeans booking trips to the U.S., with longer sales cycles this spring due to heightened tariff concerns. However, the economic turmoil seen in April and May seems to have subsided, paving the way for a robust summer and fall. Although the demand for private jets has dipped slightly since its peak during the COVID era, it continues to exceed 2019 levels. As per Private Jet Card Comparisons, there were over 3 million private jet flights in the U.S. during 2024, down from 3.1 million in 2023—a 1% decrease. With its unmatched safety record and effective fractional ownership model, NetJets remains the dominant player in the market. The Ohio-based company, owned by Berkshire Hathaway, conducted over 500,000 flights last year, serving 13,600 owners, Gallagher said. With a fleet of 1,100 aircraft, it ranks as one of the largest airlines in the U.S. and services 40% of Fortune 500 companies. NetJets added 90 new planes last year, with expectations for a similar amount in 2026, Gallagher disclosed. In a conversation with CNBC, Gallagher discussed the shifting travel patterns of NetJets clients, surprising food choices, and the unique qualities sought in pilots. Here are some key points: Wealth migration “We’ve observed a shift toward the Sun Belt, not just at NetJets but across the wealthier demographic. This has resulted in more consistent demand in places like Palm Beach and Naples in Florida, as well as Scottsdale, Arizona, which are now bustling throughout the year. Demand fluctuations have decreased in cities like Austin, Texas; Nashville; and Columbus, Ohio, which have seen significant growth in recent years. Meanwhile, Los Angeles has lost some ground in terms of air traffic, and San Diego is also seeing a decline.” Gallagher indicated that the Bay area still represents “our greatest market share in terms of business jet departures, especially from San Jose.” Internationally, there is still strong demand from Americans traveling to Europe or within European cities. “Clients appreciate that they can own a share in a plane here, fly commercially, and then use NetJets to travel around between Nice, London, or other locations, which is a huge advantage of our service,” he explained. “We anticipate setting new records this summer.” However, he also pointed out “a noticeable drop in European travelers coming to the U.S.,” indicating a decrease in traffic. On the rising interest in ‘incognito flights’ When individuals own their jets, their tail numbers and locations can be tracked and shared on social media by various online flight trackers. For example, Elon Musk’s private planes are frequently followed online. Taylor Swift faced scrutiny last year for taking 98 flights on her Dassault Falcon 7X. In contrast, with NetJets or charter flights, passengers can maintain their anonymity as their movements can’t be easily tracked. “Some of our clients with personal aircraft opt for NetJets to enjoy a more private flying experience,” Gallagher stated. “With NetJets, anonymity is ensured; only our recognizable NetJets striping is visible on the plane, leaving no way to track who’s aboard.” Most popular food order on private jets While some aircraft owners prefer meals from their favorite restaurants, providing hot meals on jets can be tricky due to the need for refrigeration and safe temperature management. Many NetJet flyers opt to bring their personal snacks or choose simpler options. “The most common catering request on our flights is crudité or charcuterie boards, along with sliced fruit trays,” Gallagher noted. “We have shifted toward simplicity and consistency in catering to ensure a reliable on-board experience,” he stated, adding that catering can be more complex than one might think. However, wine selections are expertly curated due to a partnership with sommelier Andy Chabot at Blackberry Farm, a renowned Tennessee dining destination. The special quality NetJets seeks in pilots Gallagher emphasized that the airline’s pilots enhance customer service, stating that “on many of our smaller aircraft, the two pilots handle all customer needs on board, making them our best representatives.” “It starts with finding individuals who embody a service mentality alongside exceptional flying skills,” he remarked. “Fortunately, we have been lucky to attract such talent and enjoy high retention rates among our pilots.” On the shortage of private jet hangars Similar to how the rise of mega-yachts has created a shortage of docking spaces, the increase in private jet usage has led to a lack of hangar availability. Finding adequate hangar space for NetJets’ planes can be a struggle. “In our busiest locations, we sometimes need to relocate aircraft at night due to a lack of parking space,” Gallagher explained. “Thus, we are actively exploring various real estate projects nationwide and even globally to secure sufficient hangar and ramp space through our partners.” On sustainability Gallagher also discussed environmental concerns. “NetJets is the largest user of sustainable aviation fuel in our sector, especially considering the minimal proportion of overall jet fuel we consume,” he said. “We also provide carbon offset programs for our customers who want to participate.” On jet-setting pets High-net-worth travelers aren’t the only ones onboard NetJets flights. “Last year, we transported around 25,000 pets, which significantly influences why people opt for NetJets,” Gallagher mentioned. While mostly dogs and cats are usual passengers, “we’ve also flown parrots and pot-bellied pigs,” he remarked.
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