Dubai’s millionaires are fueling a private jet boom

t’s 3am at the VIP airport terminal of Dubai’s Mohammed Bin Rashid Aerospace Hub and an ultra-long range aircraft is readying for take-off. The luxury, 14-seat private jet is headed for Europe, just as soon as its main passenger and his entourage arrive.

For this ultra-high net worth individual and others like him, it’s a run of the mill commute. And with money no object, it will be curated to his every wish — from the high thread-count bedding on board to the ready-to-eat Big Mac meal he expects upon fastening his seatbelt.

“Everywhere in the world, wherever he flies from … McDonald’s and KFC have to be on board … it has to be both,” said Lilit Avetikyan, CEO and founder of recently launched private jet company Voyex.

For the Dubai-based private aviation industry veteran, catering to the unique requests of multi-millionaire clients is just part of the “360-degree” luxury lifestyle service she offers, whether that’s fast-food favourites, tickets to the Oscars, or a customized mystery holiday.

It’s an elite club that enjoys private jet travel, which can cost anywhere from $50,000 to $200,000-plus for a single leg.

As a broker for premium private charter flights, Voyex boasts access to a network of more than 20,000 aircraft around the world that can be called on and ready for take-off in hours.

“There are actually two very exclusive aircraft that we have very special access to, for only ultra-high net worth individuals (like) royal families or governments … those are like small villas in the air,” said Avetikyan.

While a cost-of-living crisis bites large swathes of the global economy, in the United Arab Emirates (UAE), the millionaire’s club is growing faster than anywhere else in the world, and with it the demand for corporate and luxury private aviation.

“It’s an abundance mindset,” says Vanessa Budah, Voyex vice president of Communications and Lifestyle, describing Dubai, where the company is currently based.

“Ultimately, we are appealing to delegates, government officials, celebrities,” she said.  “Clients who are top tier, who we have to keep private about.”