Luxist Report: What is the future of private jet travel?

private jet
private jet

For the past six months, the private jet industry has been hit from all sides. Not only has the recession caused both businesses and high net-worth individuals to travel less, but the government has gotten involved.

Ever since the automakers who flew to Washington D.C. were grilled about how they got there, the private jet has become synonymous with excess and greed. And now everyone from CEOs to celebrities to Britain's royal familyare flying commercial. As Josh Smith over at our sister blog, WalletPop, put it, "private air travel is as uncool as taking your mom to prom."