Senior US business leaders outline reasons to upgrade their companies’ aircraft

MIAMI, JUNE 20, 2024 – A study¹ commissioned by Airbus Corporate Jets (ACJ) reveals that the primary reason U.S. senior business executives from companies that lease or own private jets are considering upgrading their fleets within the next five years is a growing focus on sustainability and the use of sustainable fuels in newer models.

The second most significant factor driving potential upgrades is an increased emphasis on operating costs, followed by the recent launch of advanced and improved models. In addition, 51% of survey respondents expect their organizations will need larger aircraft as more executives utilize business aviation.

Source: Airbus Corporate Jets commissioned research, April 2023.

Among senior U.S. business executives surveyed whose companies do not currently own or lease business jets but may consider doing so within the next five years, the primary reason cited is their organization's increasing use of business aviation. The introduction of innovative business jet models and their enhanced appeal comes in second. Other contributing factors include a growing focus on employee health and well-being, as well as advancements in the sustainability of the business aviation sector. When asked about their company's potential choice of business jet, long-range and ultra-long-range jets were most popular, followed by bizliners.

"The business aviation sector has experienced significant innovation with the launch of more efficient and technologically advanced aircraft, aligning with employers' heightened focus on employee well-being,” said Sean McGeough, VP Commercial ACJ for North America. “Additionally, there are around 778 business aircraft in the U.S. that are over 10 years old,² and many owners may consider replacing them with newer, more efficient models such as the ACJ TwoTwenty.”

ACJ offers a range of large business aircraft. The recently launched ACJ TwoTwenty is carving out a whole new market segment – ‘The Xtra Large Bizjet’. With six wide, VIP living areas of around 130 square feet each, the aircraft offers a true office environment with best-in-class connectivity and a range of relaxation options, including a California king-size bed, an en suite bathroom with rain shower and a 55-inch 4K TV.

The ACJ TwoTwenty offers twice the cabin real estate compared to similarly priced ULR business jets with market-leading fuel efficiency and unrivaled reliability. It occupies the same parking footprint as competitive ULR jets and can take off from the same airports, but the ACJ TwoTwenty operating costs are one-third less.

With a range of up to 5,650 nm (over 12 flight hours), the ACJ TwoTwenty can meet the requirements of 99.9% of all U.S. departures,³ connecting city pairs including Los Angeles to London, Miami to Buenos Aires and New York to Istanbul.

As with all ACJ aircraft, the ACJ TwoTwenty is capable of flying with up to a 50% blend of kerosene and sustainable aviation fuel (SAF) while keeping to the technical specifications of Jet A. All Airbus commercial aircraft and helicopters will be capable of operating with 100% SAF by 2030. This capability will play an important role in the sector’s decarbonization journey.

Over 200 Airbus corporate jets are in service worldwide, flying on every continent.

Notes to editors:
1- Airbus Corporate Jets commissioned the independent research company Pureprofile to survey 100 senior executives of U.S. companies with annual revenues of over $500 million. 35 of the respondents are CEOs, 12 are 2- CFOs, 37 are senior executives and 16 are Board Directors. The study was conducted in April 2023.
3- Airbus Corporate Jets analysis of JETNET data, February 2024.
4- Airbus Corporate Jets analysis of WingX data, January 2024.