There are 21,000 business jets worldwide, which cost their owners about $32 billion to run. About a third of private-jet owners are worth more than $500 million, according to a 2018 report by VistaJet and Wealth-X. Keeping TrackArticle Continued BelowPart of the problem is the sheer quantity of paperwork and bills associated with private air travel. There are 21,000 business jets worldwide, which cost their owners about $32 billion to run. A chief operating officer for a large family office, who didn’t want to be identified discussing private business arrangements, describes jet management companies as “a necessary evil” and recently switched to a new one.

Source: thestar March 07, 2019 14:15 UTC