Flexjet Unveils $96M Gulfstream G700: A Luxury Travel Revolution

UPDATE: Flexjet has just announced the addition of the ultra-luxurious Gulfstream G700 to its fleet, marking a significant shift in private aviation. Priced at a staggering $96 million, this flying penthouse is designed exclusively for the world’s wealthiest individuals.

The G700 offers a level of extravagance that transforms the concept of air travel. With about 465 square feet of cabin space, it boasts multiple living areas, including a bedroom and a dining area capable of accommodating six. Flexjet’s fractional ownership model allows clients to experience this luxury with flight hours costing up to $20,000, making private flying accessible to the elite.

Flexjet’s first G700 was added to its fleet in September 2023, with plans for a total of 12 aircraft. The company reported that fractional ownership has surged in popularity, with a 70% increase in demand compared to pre-pandemic levels. Flexjet CEO Michael Silvestro noted that affluent travelers are increasingly seeking privacy and convenience in their travel experiences.

The G700 is not just about comfort; it features advanced technology with high-speed Starlink WiFi, making it ideal for business meetings in the air. Its stunning design includes panoramic windows, and clients can request gourmet catering from Michelin-starred chefs to enjoy mid-flight.

With over 511,000 individuals worldwide classified as ultra-rich, the private aviation market is booming. Industry experts predict that the global fractional ownership market, currently valued at around $8 billion, could expand to nearly $16 billion by 2033. This growth is fueled by younger generations of wealthy clients, including Gen Z and millennials, who are entering the market faster than ever.

Flexjet’s G700 can fly over 7,750 nautical miles nonstop, connecting distant destinations like New York and Cape Town. A typical flight from New York to London could cost around $240,000 for a 12-hour journey at the top hourly rate.

The demand for luxury private jets like the G700 is being echoed by companies such as Qatar Executive, which offers similar services on a charter basis. As the aviation landscape shifts, the G700 represents the pinnacle of luxury travel, catering to those who can afford to redefine air travel as we know it.

Stay tuned for more updates on the evolving landscape of private aviation and the G700’s impact on the ultra-wealthy travel market.