News Release

Simply Jet sees fast-growing demand for its global services

Simply Jet, a fast-growing private jet charter brokerage headquartered in Switzerland, has announced its operational achievements for 2023. Despite operating in a demanding industry characterised by high-interest rates, ongoing inflationary pressures and geopolitical tensions, Simply Jet accomplished a notable success. The company registered a record-breaking annual revenue of over $30 million, showcasing an impressive 36% YoY growth. The company facilitated over 1,820 flights, with up to 25 aircraft departures per day during peak seasons.

Despite a market-wide year on year decline in flight movements, the overall activity still exceeds pre-pandemic levels. Simply Jet capitalised on strong demand, particularly in Central Europe.

CEO Yann-Guillaume Jaccard shares an optimistic outlook on the firm's trajectory, stating, “The demand for our services in this region has been strong, which led to an expansion into new destinations. What's even more encouraging is our team's expansion over the same period with the opening of a new office in Zurich and the development of new business segments.” These segments, including group charter services and, most recently, aircraft sales and acquisition, underline Simply Jet's dynamic market presence and operational performance.

He credits the positive figures to the company's steadfast commitment to its core values, the “asset-light” business model, and the changing travel preferences of ultra-high-net-worth individuals (UHNWIs). ¨Unlike traditional charter companies burdened by heavy aircraft maintenance costs and depreciation, our asset-light business model allows us to prioritise the quality and experience of our clients,” added Yann. "By divesting from heavy asset ownership, we can allocate resources towards enhancing service standards, tailoring experiences and delivering exceptional customer satisfaction. This adaptability not only fuels our growth but also ensures the sustainability and stability of our operations.”

In addition to the company's success factors, the evolving preferences of affluent clients in the private aviation sector further illustrate the company's flexibility and responsiveness to changing market dynamics. Amidst the ongoing geopolitical and market uncertainties, a notable shift is occurring in the travel habits of ultra-high-net-worth individuals (UHNWIs).

This shift has been particularly pronounced post-pandemic, as individuals and businesses are drawn towards safer, more controlled environments, paired with the exclusivity and tailored services that companies such as Simply Jet provide. Yann-Guillaume Jaccard states, “It is particularly interesting to note that the aircraft we chartered the most are cost-efficient light jets. This proves that our industry primarily allows companies to get business done, quite far from the ultra-luxurious image we are always depicted with.”

Yann-Guillaume Jaccard believes demand for private aviation flights in 2024 should remain steady with a +/-3% YoY variation. This conservative growth estimate reflects a market correction following the exceptional surge in previous years and indicates a period of stabilisation and cautious optimism in the sector.