Previously, private jet industry was a prestigious representation which was greatly affected by the recession.  Majority of airline companies have increased airfares and cut routes just to cope up with their businesses.  Now, these private jet carriers are welcoming its first upsurge in demand since 2008.  12% of Americans with a net worth of $5 million or more stated they think of improving their spending on private jet travel this 2011, which is higher than 9% in 2010, based on a wealth survey by the Luxury Institute.  The less well-off begins trading-up, as several private jet businesses reduce prices to pull in new business by means of flight-sharing deals and social networking movements.

Excerpt:

“Flying in a private jet used to be the ultimate status symbol, but the recession completely knocked the wind out of the industry — until now.”

Original article can be found at:

http://money.cnn.com/2011/11/08/pf/private_jet/index.htm

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