Private jet charter, GlobeAir, has reported a 53% increase in flights to London as wealthy shoppers take advantage of luxury goods being made cheaper by the post-Brexit pound.
Comparing the first five months of this year to the same period in 2016, the Austrian-based air taxi operator says this dramatic increase is being fuelled by the fall in sterling, and London’s strengthening position as the world’s capital for luxury retail.
Between June 24 2016 and July 7 2017, the value of sterling fell by around 13.5%. At the same time, London has seen more luxury store openings than any other city.
Chief marketing & sales officer at GlobeAir, Mauro De Rosam comments: “A significant proportion of luxury goods are purchased outside of a shopper’s home market, and a combination of the fall in sterling and more luxury stores opening in London has been a massive boost for the capital’s luxury retail market.
“This has had a knock on effect on other sectors that are closely linked to this, including private aviation. Indeed, the number of private jet flights we operate to London from Europe has increased dramatically.”
GlobeAir’s fleet of Citation Mustang jets are able to connect to more than 1,500 airports around Europe and North Africa, including those with a short runway not accessible to commercial airlines.
The rise in visitors travelling to London via private charter cements the city’s position as a prime location for luxury retailer.