Private jet sales are hitting record highs, and new U.S. tax breaks could be helping fuel the surge, reported Luxury Launches.
A forecast from aerospace firm Honeywell projects roughly 8,500 new private jet deliveries worldwide through 2035, worth an estimated $283 billion. So great is the expected spike in demand that the company says this decade will be the most active in the industry's history.
Private jets are as much as 14 times more carbon-intensive per passenger than commercial airliners, reported Luxury Launches. Larger ones, which dominate new orders, also burn more fuel and fly longer routes, making them even worse for the planet.
A 2024 report found that passengers in larger models cause more CO2 emissions in one hour than the average person does in a year. The study, led by a researcher at Linnaeus University in Sweden and others in Germany and Denmark, found that while private flights are used by just 0.003% of the world's population, they are the most polluting form of transport per head.
Planet-warming carbon pollution has been shown by scientists to be making storms, floods, and other extreme weather events even more intense.
In a separate report in June, the International Council on Clean Transportation (ICCT) warned of the high environmental cost of private jets. Daniel Sitompul, aviation fellow at the ICCT, said: "A typical private jet emits as many greenhouse gases each year as 177 passenger cars or nine heavy-duty highway trucks."
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Honeywell said a new U.S. tax break that makes buying a private jet much cheaper for wealthy individuals and companies is partly behind the boom. The new rule allows buyers to write off the entire cost of a new aircraft from their taxes right away, instead of spreading the deduction over several years.
That break, recently reinstated by the U.S. government, has encouraged a rush of purchases before it expires, effectively turning private jets into a major tax shelter for the ultra-rich.
Aircraft makers are responding quickly. Bombardier, Gulfstream, and Dassault are rolling out new long-range models. Honeywell expects deliveries to rise 5% next year, with 91% of operators planning to fly more than they did in 2024.
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