Despite inflation jitters, global instability, and market turbulence, the demand for private aviation remains remarkably strong—and subtly smarter. According to NetJets President Patrick Gallagher, the ultra-wealthy aren’t pulling back from the skies. Instead, they’re charting new paths.
“We’re seeing a change not in how often our clients fly, but in where they’re going,” Gallagher told Inside Wealth in a recent interview with CNBC. “Travel patterns are evolving. The destinations look different this year, but the appetite is as strong as ever.”
Flying High in Uncertain Times
Owned by Warren Buffett’s Berkshire Hathaway, NetJets remains the largest and most established name in fractional private jet ownership. With a fleet of over 1,100 aircraft and 13,600 active customers, the company functions like a private aviation co-op for executives, entrepreneurs, and affluent families who demand flexibility without the burdens of whole aircraft ownership.
Despite a volatile economic backdrop, NetJets continues to report high booking volume, especially in the lead-up to the 2025 summer season. For many high-net-worth individuals, private aviation is no longer about luxury—it’s about control, privacy, and efficiency.
“The events of recent years—from pandemic disruptions to geopolitical flare-ups—have made time more valuable and travel more complicated,” said Gallagher. “Our owners see private aviation not as a splurge, but as a strategic asset.”
A Shift in Latitude, Not in Attitude
But even among the elite, priorities shift. Gallagher noted that travel trends are moving away from traditional hotspots in Europe and the Caribbean toward less crowded, emerging luxury destinations.
“We’re seeing greater demand for places that offer privacy, wellness, and security,” he said. “It reflects the mindset of our clientele: they’re well-informed, highly mobile, and more intentional about where and how they spend their time.”
This shift mirrors broader trends in wealth behavior. According to multiple family office surveys, high-net-worth individuals are increasingly blending lifestyle management with legacy planning—prioritizing health, security, and time autonomy over flash.
Fractional Ownership: The New Standard for Discerning Flyers
Fractional ownership, once seen as a compromise between full aircraft ownership and chartering, is now the gold standard for many private fliers. Clients buy a share of a specific aircraft, entitling them to a certain number of flight hours per year. NetJets handles the logistics, maintenance, and crew.
This model is especially attractive in a post-COVID landscape where commercial air travel remains vulnerable to disruptions, and where time spent in airports is seen as a risk rather than a buffer.
Private Aviation’s Staying Power
While some analysts have speculated that rising costs or climate concerns might temper demand for private jets, Gallagher isn’t seeing the slowdown—at least not yet.
“Our customers understand the value of what they’re buying,” he said. “Time is the one thing they can’t earn back, and private aviation is an investment in reclaiming that time.”
For Southern business leaders, estate managers, and family office professionals watching aviation trends, the message is clear: private travel is evolving, not evaporating. Whether for business continuity, family security, or lifestyle fluidity, jet ownership is more than status—it’s strategy.
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Takeaway for Southern Investors & Advisors
In a region known for generational wealth, quiet luxury, and family legacy-building, the evolution of private jet use isn’t just a travel trend—it’s a mirror into how today’s elite are adapting to tomorrow’s uncertainties. The route may change—but the runway is wide open.
Why the Wealthy Are Flying Smarter, Not Less, This Summer
