The global private jet fleet has more than doubled in the last two decades and the market is on fire, with new industry records set for transaction and dollar volume in 2021 and 2022, according to a new report by the US Institute for Policy Studies.
Private jets emit at least 10 times more pollutants than commercial planes per passenger, disproportionately contributing to the aviation sector’s climate impact, according to the report, which was published in May 2023.
Amid these concerns, one private jet owner has decided to scale back.
Stephen Prince, vice-chair of the Patriotic Millionaires – a group of wealthy Americans pushing for higher taxes which also contributed to the report – is giving up his Cessna 650 Citation III to help save the environment.
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