Loizos Papantoniou on why flying by private jet is more than a symbol of power or status

The world of private jets is one of luxury, exclusivity and a growing clientele of high-flying High Net Worth Individuals (HNWIs).

As Cyprus increasingly becomes a safe haven for international companies, its private jet industry is evolving to meet the requirements and tastes of its wealthy clients.

Loizos Papantoniou, Managing Director of Aviation Masters, analyses the current trends and the growing demands of those willing and able to pay for the experience of flying by private jet.

“In recent years we have seen a significant increase in the use of private jets flying to and from Cyprus,” says Loizos Papantoniou, Managing Director of Aviation Masters, “and we are currently experiencing a huge demand from Israel, the UAE and Eastern Europe.”

He goes on to explain that aircraft cabin configuration requirements have changed, depending on the purpose of the flight – for leisure or business. “Special attention is also given to productivity, Internet connectivity and dedicated areas for work, conducting meetings or relaxing on a sofa or bed. And fine dining is a must on those flights!”

The intricacies of private aviation are inspired by its passengers; each flight is part of a creative process, built to serve the most discerning clients. Design, beauty and discretion make each flight a unique experience rather than a compulsory chore. “We are adding value to the standard offered product and offering a complete VVIP service to the client, with safety our number one priority,” explains Papantoniou. “In addition to the private jet, we offer a chauffeur service to and from airports. The service begins the moment the client leaves home or the office to meet the jet and ends when he/she arrives at the destination’s meeting point, hotel or second – or even third – home.”

According to Papantoniou, demand for travel by private jet demand is dynamic and has changed a great deal in recent years. During the COVID-19 pandemic, it soared by 70%. Following the war in Ukraine, demand dropped but, due to the conflict in the Middle East, it is on an upward trajectory once more.

“High Net Worth Individuals (HNWIs) will visit their second or third home, irrespective of what is happening to the world. Meetings will be conducted normally and flights to exotic destinations are part of their routine,” explains Papantoniou, who divides the typical private jet clientele into two categories: business travellers and leisure travellers.

“In general, they are all people who value time and, for them, flexibility is a must, while privacy and comfort are very important,” he says. “The aircraft type always depends on the number of people and the destination. Business travellers choose to fly privately to save time or to attend a meeting. Private jets are equipped with state-of-the-art technology and amenities, including high-speed Wi-Fi and comfortable workspaces, ensuring that passengers can remain connected and efficient while in the air. Regarding the cabin configuration, they will have a dedicated area where they can work and/or conduct meetings, and a satellite Internet connection is a must,” Papantoniou notes.

“Leisure travellers, on the other hand, choose to fly privately to their second or third home or to holiday destinations,” he explains. “For them, the cabin configuration will include a sofa, an extensive entertainment system, satellite Internet and even several beds.”

As Benjamin Franklin wisely said, time is money, and private jets offer the ultimate gift of saving valuable time. It is a fact that Cyprus still faces challenges regarding connectivity and direct flights to major destinations, and this is where the private jet industry comes in to bridge the gap, especially for business travellers.

“This is one of the major reasons why people choose to fly privately,” confirms Papantoniou. “A private jet gives you the option to fly directly to your destination, without the hassle of connecting flights, whenever you want. You are not dependent on when an airline has a scheduled flight and this is a significant advantage for all business travellers! In addition, if your final destination is in the city centre, a private jet may be able to land at an airport that is close to it, one that may not be accessible to regular airlines. A classic example is London, where all the major airlines use four major airports – Heathrow, Gatwick, Luton and Stansted – but London City Airport is accessible to private jets and it’s located in the heart of the capital.”

Today, flying by private jet is more than a symbol of power or status; it is about making every moment count and unlocking the doors to secluded getaways and cultural gems, as well as to buzzing, busy cities. The private jet industry provides the ultimate in comfort, exquisite service and even the convenience of an office as part of an all-access pass to the skies. For HNWIs, at least, it’s an offer they can’t refuse.

(Original photo of Loizos Papantoniou by TASPHO)

This interview first appeared in the 2024 edition of The Cyprus Journal of Wealth Management, commissioned by Eurobank Cyprus and published by IMH. Click here to view it and here to view the entire magazine.