LVMH-backed investment firm takes a 20% stake in Flexjet, valuing the private jet company at around $4 billion, as part of a strategic move to enhance luxury travel offerings and brand synergies, with Flexjet focusing on creating an exclusive, club-like experience for high-net-worth individuals.
Celebrities discreetly arrive in Utah for the Sundance Film Festival by flying into the Heber Valley Airport, where only private planes can land, to avoid paparazzi and crowds at Salt Lake City. The airport sees a significant increase in arrivals during the festival, posing a challenge due to its small size, but its experienced staff manages the influx. Tight security and discreet transportation ensure that stars can attend the festival without drawing attention, with drivers assigned to work with specific film crews for the week. Despite the perks of driving celebrities, it's emphasized that they are normal people with a job to do.
The demand for private aviation has accelerated due to the pandemic, leading to the upcoming release of six dynamic new aircraft. These include Volocopter's Volocity, a battery-powered autonomous aircraft set to fly over Paris during the 2024 Olympics, and Dassault's Falcon 6X, which prioritizes passenger comfort with extra-large windows and a 5,500-nautical-mile range. The Gulfstream G700 offers an ultra-long-range and spacious cabin, while Archer Aviation's Midnight eVTOL has secured significant contracts with the U.S. Air Force and United Airlines. The Beechcraft Denali aims to revolutionize the turboprop segment with its fuel efficiency, and Cessna's Citation Ascend is expected to be a market success with its larger cabin windows and advanced avionics.