In the current economy, corporations look at many ways to save on costs, but the use of the private jet charter has not declined, according to Fortune 500 watchers. Commentators point to a number of possible explanations for this, including the relative low cost of chartering a jet (compared to owning and maintaining one in-house). However, one of the most prominent reasons is the symbolic nature of a private luxury jet: in the competitive world of business, access to a private jet is tangible proof of success.
Private jets have a long association with luxury, status and power. In the early history of flight, the largest commercial aircraft were comparable in size to the small, private planes of today: a handful of people would sit in relative comfort and privacy. At the same time, early commercial flights were expensive, and gave the ticket holder access to one of the ultimate symbols of modernity and freedom. It was the romantic era of the airplane.
By the 60s and 70s image was sealed: the elite climbed aboard small private aircraft, even with the arrival of large commercial airliners on unprecedented size and economy. In addition to the added comfort, the use of a small private jet afforded freedom to go on any schedule, to any place; an ideal arrangement for an executive on urgent business.
The role of the private jet was sealed, and it has become a global symbol of corporate success. Because of its iconic place in the business world, the private jet remains a necessity for leading companies today.