As the head of Jets.com, entrepreneur Edgar Alacan coordinates private charter flights in aircraft that are reliable, well maintained, and meet strict safety standards. Edgar Alacan’s company is positioned within an industry that continues to expand as more people turn toward the convenience of private jet travel.
Tuesday, February 2, 2021
Private Jets Represent Growth Area
As reported by Crain’s Chicago Business in early 2021, private jets represent a bright spot within a broader aerospace sector that has been impacted by the pandemic and commercial travel restrictions. One prominent example of this growth is Textron, Inc., which manufactures iconic Cessna jets and Beechcraft turboprops. Textron reported analyst expectations exceeding profits during the fourth quarter of 2020.
This was driven by numerous new orders for private planes, with General Dynamics Corp., the maker of the Gulfstream, achieving a 0.96 book-to-bill ratio. This reflects a situation in which existing orders are shipped out at the same rate as their backlog is replenished. It significantly outpaces sales results of the ailing commercial aircraft manufacturer Boeing, which had one of its poorest years on record in 2020.