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How Cheap Oil Drives Global Private Jet Sales

Nov. 19 (Bloomberg) -- The Private Jet Company CEO, Daniel Jennings appears on Bloomberg TV "In the Loop with Betty Lui". In this live national television interview Mr. Jennings discusses the impact of failing oil prices and how it is may effect the sales of private jets in the private aviation market. As oil continues to decline, he suggests that you will see large private jet sellers coming out of Russia, the OPEC countries including Nigeria and even in the United States. Notably, this has been the strongest nine month recovery for the private jet sales market in the last ten years, but this recovery could be short lived. Jennings is cautiously stating, "declining oil prices are a double edge sword". It will make the cost of aircraft operation cheaper, however, much of the worlds wealth is driven by oil and these private aircraft owners will cancel orders and not buy more private jet aircraft. It remains to be seen whether supply and demand in the private aviation market will continue to be unbalanced or will prices react to market forces. (Source: Bloomberg)


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