Hangar8: High-value London Property Sales Driving Business Jet Demand

 - May 15, 2014, 2:25 PM

According to an analysis released this week by UK-based charter firm Hangar8 Aviation, a 28-percent year-over-year rise in sales of London properties worth more than £5 million last year is fueling demand for private jets because overseas buyers are purchasing many of these properties. Hangar8 said the number of business flights into London’s busiest business aircraft airports increased 6 percent year-over-year in the first quarter, which equates to approximately 300 additional flights. It estimates that there are approximately 172 large-cabin business jets registered in the UK, which is 15 percent of the total in Europe.