Flexjet Unveils $96 Million Gulfstream G700: Luxury in the Skies
UPDATE: Flexjet has just unveiled its luxurious new Gulfstream G700 private jet, valued at a staggering $96 million. This extravagant aircraft is set to redefine air travel for the ultrarich, offering a level of opulence akin to a flying penthouse.
The G700 is now part of Flexjet’s fractional ownership fleet, allowing clients to experience luxury air travel without the full cost of ownership. With fractional hourly rates ranging from $6,500 to $20,000, flying on this jet is priced at the high end of the market, comparable to the average American’s $2,300 monthly mortgage payment.
This move comes as the demand for private aviation soars, particularly among wealthy travelers seeking privacy and comfort in the wake of the pandemic. Flexjet CEO Michael Silvestro noted that there has been a 70% increase in fractional ownership since June 2023, as affluent clients prioritize cleaner, more secure travel options.
The G700 is not just a mode of transport; it features approximately 465 square feet of cabin space, which is larger than many New York City apartments. It boasts five living areas, a full bedroom, and a high-end kitchen. This aircraft is designed for those who desire a superior flying experience, catering to billionaires like Elon Musk and Jeff Bezos, who have already purchased their own G700s.
The luxury interior includes a spacious bedroom with a full-sized bed and private bathroom, which boasts elegant design elements. Travelers can also enjoy a dining area that accommodates up to six people, complete with catering options ranging from Michelin-starred meals to casual fast food.
Flexjet’s G700 enhances the flying experience with essential amenities such as high-speed Starlink WiFi, a mini movie theater, and a lounge area, making it suitable for both leisure and business travel. The aircraft can comfortably seat up to 15 passengers and can sleep up to nine, with convertible loungers throughout the cabin.
With its advanced technology, the G700 can fly up to 7,750 nautical miles nonstop, connecting far-flung destinations like New York and Cape Town or Miami and Dubai. However, this luxury comes at a price; a 12-hour flight could cost around $240,000, excluding additional fees.
As Flexjet continues to expand its fleet, they plan to add a total of 12 G700s to their offerings. The global market for fractional ownership is projected to nearly double from $8 billion in 2022 to $16 billion by 2033, driven by a growing number of ultrarich individuals, now totaling 511,000 worldwide.
In this new era of lavish air travel, the G700 stands as a testament to the evolving demands of the world’s elite. The aircraft’s debut highlights a significant shift towards personalized and luxurious experiences in the skies, catering to a clientele that is increasingly insulated from economic fluctuations.
As the aviation industry adapts to these trends, the G700 is poised to become a symbol of luxury and exclusivity, setting a new standard for private air travel. Stay tuned for further updates as Flexjet rolls out this remarkable aircraft to its affluent clients.
