As more millennials enter the workforce and become business aviation customers, this demographic is driving a number of changes in the industry. This is according to comments made by Michael Amalfitano, Embraer Executive Jets president and CEO, at the Corporate Jet Investor Miami conference.
AINonline quotes Amalfitano as saying: “Business aviation needs to address the growth of millennials’ impact on the market.”
He continued: “We have seen a shift from ownership to access, since the 1960s,” adding that millennials are now accelerating this trend towards ‘business aviation as a service’.
The shift towards sharing rather than owning, and rating experiences over possession is seen across a number of areas and evidenced by the huge growth of companies such as Uber and Airbnb.
Amalfitano said: “[Millennials] want experiences and will make price-driven decisions based on an experience desire.”
Further, this generation of digital natives expect a simple, stress-free digital experience for any service that they use, and business aviation operators will need to be able to provide this.
Read the full article on AINonline.