Flexjet Launches $96M Gulfstream G700: Luxury Flying Redefined

UPDATE: Flexjet has officially launched its first Gulfstream G700 private jet, valued at a staggering $96 million, redefining luxury air travel for the ultrarich. The announcement comes as wealthy travelers increasingly seek exclusive flying experiences, driving demand for private aviation.

With fractional ownership options now available, clients can experience the G700 for a premium of up to $20,000 per flight hour. This marks a significant shift in the aviation industry, as Flexjet aims to cater to the growing number of billionaires and affluent individuals seeking opulence in the skies.

The Gulfstream G700 features an expansive cabin, measuring approximately 465 square feet, offering up to five distinct living areas akin to a high-end apartment. For comparison, this space surpasses the average size of a New York City studio apartment. The jet is designed to provide maximum comfort, complete with a private bedroom, a full bathroom, and a sophisticated dining area capable of accommodating six guests.

The G700 can fly 7,750 nautical miles nonstop, making it capable of connecting distant locations like New York and Cape Town or Miami and Dubai without refueling. This capability positions the G700 as a game-changer in long-haul private travel, allowing its users to traverse the globe with unprecedented ease.

As the market for fractional ownership sees explosive growth, data indicates a 70% increase in demand from 2019 to 2023, with younger generations of ultra-high-net-worth individuals, particularly Gen Z and millennials, driving this trend. Currently, these young affluent clients account for 8% of the world’s ultra-high-net-worth population, projected to surge to 35% by 2040.

Flexjet’s CEO, Michael Silvestro, emphasizes that the pandemic has accelerated this shift, as wealthy travelers prioritize privacy, cleanliness, and personalized experiences in air travel. The G700 is equipped with high-speed Starlink WiFi, allowing clients to work or stay connected while en route.

The luxurious amenities of the G700 include a lounge area for socializing or meetings, catering options ranging from Michelin-star meals to casual comfort food, and even a mini movie theater. Each jet in Flexjet’s fleet comes with a specially trained cabin crew member to ensure that every need is met.

The G700’s design and amenities are not just about luxury; they also reflect a broader trend in private aviation where comfort and opulence are paramount. With significant investments in private jets and yachts, the ultrarich are expected to spend nearly $30 billion on private aviation this year alone.

As Flexjet prepares to expand its fleet with a total of 12 G700s, the implications are clear: private flying is evolving into a new standard of luxury that is increasingly accessible to the elite. The aviation market is poised for continued growth, with the global fractional ownership industry projected to reach nearly $16 billion by 2033.

This launch not only marks a milestone for Flexjet but also signals a new era in private air travel where the experience is as important as the destination. As the G700 takes to the skies, it promises to cater to the whims of the world’s wealthiest, ensuring that luxury flying remains synonymous with exclusivity and comfort.

Stay tuned for more updates on this developing story as Flexjet further unveils its plans for the future of private aviation.