UPDATE: Flexjet has just unveiled its extravagant $96 million Gulfstream G700 private jet, a luxurious aircraft that redefines air travel for the ultrarich. This stunning jet, which resembles a flying penthouse, is part of Flexjet’s shared fleet, and wealthy travelers can access it for up to $20,000 per flight hour.
The Gulfstream G700 boasts an impressive 465 square feet of cabin space, surpassing many New York City apartments. With lavish amenities including a private bedroom and gourmet dining options, this aircraft is designed to cater to the needs of the elite. Flexjet has already added the first of twelve planned G700s to its fleet, signaling a significant shift in private aviation.
For context, the G700’s cabin features up to five living areas, complete with a high-end lounge and a mini movie theater. The jet can accommodate up to 15 passengers and sleep up to nine, making it ideal for both leisure and business travel. A full-sized bedroom, complete with a private bathroom, offers the ultimate in privacy and comfort.
The private aviation market is booming, driven by a surge in demand for fractional ownership options, especially among younger, affluent clients. Flexjet reported a 70% increase in demand from June to August 2023 compared to 2019. CEO Michael Silvestro noted that wealthy travelers are prioritizing cleaner and safer travel options, particularly in the wake of the pandemic.
Notably, this trend is bolstered by a new generation of ultra-high-net-worth individuals, with projections showing that those aged 18 to 43 will comprise 35% of the world’s ultra-rich population by 2040. Currently, there are approximately 511,000 individuals globally with a net worth exceeding $30 million, and this number is expected to grow by 31% by 2030.
Flexjet’s G700 is not just a mode of transport; it represents a lifestyle choice for the wealthy, with annual spending on private jets and yachts nearing $30 billion last year alone. The G700 can fly up to 7,750 nautical miles nonstop, connecting global cities like New York and Cape Town or Miami and Dubai.
Pricing for the G700 reflects its exclusivity. A typical flight of around 12 hours could cost around $240,000, not including additional fees. For the ultrarich, this is a small price to pay for the luxury of flying above the clouds in style.
As Flexjet continues to expand its fleet, the G700 is poised to become a symbol of opulence in the air. The aircraft’s panoramic windows and spacious design set a new standard for private travel, making it a compelling option for those seeking the ultimate flying experience.
In a market increasingly driven by the demand for luxury and privacy, the Gulfstream G700 exemplifies how the elite travel today. With its high-speed connectivity and lavish interiors, this jet is more than just a means of travel; it’s a testament to the evolving landscape of private aviation.
Stay tuned for further updates as Flexjet continues to revolutionize the way the ultrarich fly.
