The Canadian Island For When You Really, Really Want to Get Away
On a recent trip to Battle Harbour, an island in Canada's Labrador Sea, I heard the Northern Lights. Or at least I think I did. Scientists still debate whether the aurora actually makes any sounds, but as I gazed at the chartreuse display, I thought I could make out a faint whispered whistle in the night's otherwise profound silence. A true separation from the din of daily life eludes most of us, even on vacation—but in that moment, I was sure I'd found it.
For most of the year, the remote island of Battle Harbour in the province of Newfoundland and Labrador lies empty, pummeled by relentless snowstorms. Icebergs regularly float by in the bay. But for the three months of summer, the island opens briefly, like a portal to another quieter world. I had traveled to the island from New York City with my new husband as part of our honeymoon.
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Forbes
4 hours ago
- Forbes
NetJets, Flexjet, VistaJet Executives See Plenty Of Room For Growth
After two years of small declines following record demand spurred by the COVID-19 pandemic, which peaked in 2022, top executives from the world's largest sellers of private jet flights – NetJets, Flexjet, and VistaJet - are providing a bullish outlook for the future. According to Aviation Week, the trio are already flying high. Over the three months from March to May, Flexjet saw an increase of 146% in "aggregate hourly utilization" compared to 2019. VistaJet was up 115%, while NetJets, already the biggest by a factor of nearly three, saw a 56% gain. Eric Martel, president and chief executive officer of Bombardier Inc., left, and Patrick Gallagher, ... More president at NetJets Aviation Inc., during a delivery ceremony for NetJets' first Bombardier Global 7500 private jet at the Bombardier Laurent Beaudoin Completion Centre in Montreal, Quebec, Canada, on Thursday, Dec. 2, 2021. Earlier this week Gallagher told CNBC that the market for private jet flyers remains largely untapped and demand continues to be strong. Photographer: Graham Hughes/Bloomberg Yesterday, NetJets Aviation President Patrick Gallagher, speaking to CNBC's Robert Frank, estimated that despite the industry's growth over the past five years, the addressable market for private aviation is largely untapped. "The pandemic unlocked a portion, but if the private aviation market expanded by 40%, you still have only 14% of the addressable market (flying privately)," he told the cable business channel. Gallagher cited a 2020 McKinsey study that showed before the pandemic, only about 10% of households with the financial means to be regular private aviation users were flying privately at the time. The unit of Berkshire Hathaway is expected to take delivery of around 90 new private jets this year. It currently holds options to purchase over 1,700 private jets from Textron Aviation, Embraer and Bombardier. While Gallagher declined to provide specifics, he said, "In terms of what we see in future demand, there have really been no signs of slowdown even in this period of market volatility, uncertainty, and tariff concerns," adding, "We watch all the leading indicators very closely. How much are our existing customers flying? Are they giving us less notice? Are they still booking with normal travel patterns? Are they going to different places? Is travel to Europe down compared to last year? So far, we have not seen any indicators of our business at NetJets slowing down." Flexjet, Inc. Chairman at the opening of the company's new world headquarters outside Cleveland, ... More Ohio, in September 2023. He says nearly all of the HNWs who joined the company's fractional and jet card programs during COVID have stayed flying privately hand have not returned to the airlines. Data from Wing X shows that U.S. private jet flights, which had been tracking at a 3.4% year-over-year growth rate before the tariff announcements, have accelerated with 4.1% year-over-year gains since then. Domestic private jet segments were up 16% year-over-year over the recent Memorial Day weekend. In a separate interview published this week, Thomas Flohr, chairman of Vista, the most global of the big players, told Spears Magazine about the prospect of engaging more wealthy individuals in private skies. "The addressable market is gigantic and growing usually at about double GDP." Earlier this year, Flexjet, Inc. announced a firm order for new private jets from Embraer valued at $7 billion. Co-CEO Mike Silvestro stated that the company anticipates doubling the size of its fleet to over 600 jets by 2031. NetJets, including its aircraft management arm, operates around 1,100 aircraft, which would rank it alongside American Airlines, Delta Air Lines, and United Airlines in terms of fleet size. So, what's driving the growth? Gallagher says it's a combination of factors. For executives constantly on the road, flying privately increases family time. In other cases, customers with mobility issues find navigating big and crowded airports increasingly difficult. For others, it's about visiting the grandkids. At the same time, being able to bring pets along can be a reason to choose private flights. Last year, NetJets flew 25,000 pets, mostly dogs and cats, but also parrots and pot-bellied pigs. Another reason for the optimism is the demographics of the flyers. Silvestro says customers are entering the private aviation market earlier, meaning a longer runway of usage. New customers are now in their late 30s and early 40s compared to a market that was previously driven by users who were 55+. The next generation of customers also want to visit more far-flung destinations, creating a need for bigger jets. He coined the trend, "younger, larger, longer." Vista Chairman Thomas Flohr recently told Spears Magazine, "The addressable market is gigantic and ... More growing usually at about double GDP." His VistaJet unit has grown 115% since 2019, according to recent Aviation Week data. (Photo by ERIC PIERMONT/AFP via Getty Images) For fractional and charter operators such as NetJets, Flexjet, and Vista's VistaJet, anonymity is also an increasing factor, the executives say. "We have clients who own their aircraft and use NetJets when they want to fly incognito," Gallagher told CNBC, noting, 'All anybody is ever going to see is that familiar NetJets stripe on the aircraft. They have no idea, no way to track who's onboard.' Both Gallagher, and Flexjet Chairman Kenn Ricci, speaking on a recent industry podcast, say the programmatic offerings they sell - fractional ownership and jet cards - are proving sticky for newcomers, meaning a broader base of core users, and few have stepped back to the airlines. Ricci told listeners, 'We are not seeing much attrition of that frugal wealthy group that showed up (during COVID).' A recent Forbes survey of billionaires found private jets as the top answer when they were asked to name the one luxury they could not live without. What's going to get 86% of the addressable market, which is still on the sidelines, to fly privately? Gallagher noted that $80 trillion is expected to be inherited over the next two decades. He says the next generation is more open to shared economy solutions, such as jet cards and fractional ownership than their parents. Similarly, the new rich are those who are making their money from tech-driven businesses. Gallagher says NetJets' highest market share is in Silicon Valley. He told CNBC, "The tech money is investing in the shared economy." A survey of Private Jet Card Comparisons subscribers who don't currently fly privately but are considering it found that 63% cited door-to-door time savings compared to airlines, 46% said private aviation would give them access to more convenient airports, and 31% cited the ability to fly nonstop instead of making a connection. Nearly 30% cited traveling with pets. Thirty-eight percent said flying privately would replace long trips by car, something that is driving more private flight providers to offer last-mile solutions. Enticing those who can afford to fly privately and drawing them in has always been challenging. Terrorist attacks and Covid drove new customers who wanted to avoid crowded spaces. Airline meltdowns, where passengers can't be rebooked for several days, cause a brief spike in demand. Product breakthroughs, such as fractional jet ownership, invented by NetJets, and jet cards, which date back to 2019 and created by Sentient Jet, now part of Flexjet, Inc., have made flying easier and more accessible, Cheap access often gets plenty of press but rarely meets expectations, and the business models usually prove unsustainable. Kenny Dichter, who founded both Marquis Jet Partners, which was sold to NetJets in 2010, and Wheels Up, which he exited in 2023, announced his return to the space last month with RealJet, an offshoot of a sports and entertainment platform he launched last year. Dichter is widely credited with helping expand the market via MarquisJet, which enabled its customers to buy jet card flights on NetJets in 25-hour increments instead of making a five-year, 50-hour-per-year ownership commitment. He also promoted a membership program using cost-effective King Air turboprops through Wheels Up. This time he is hoping the ability to offer private flights as a stylish and hassle-free way to travel with friends and business associates to his lineup of VIP events will help bring first-time flyers. Real SLX has already inked partnerships with BetMGM and FanDuel. In launching his charter brokerage, Dichter said, 'We think Real SLX's reach to over 22 million U.S. millionaires, of whom maybe 150,000 are regular private aviation users, creates a white space where we can help bring lots of new consumers into the market.'

Wall Street Journal
5 hours ago
- Wall Street Journal
The Canadian Island For When You Really, Really Want to Get Away
On a recent trip to Battle Harbour, an island in Canada's Labrador Sea, I heard the Northern Lights. Or at least I think I did. Scientists still debate whether the aurora actually makes any sounds, but as I gazed at the chartreuse display, I thought I could make out a faint whispered whistle in the night's otherwise profound silence. A true separation from the din of daily life eludes most of us, even on vacation—but in that moment, I was sure I'd found it. For most of the year, the remote island of Battle Harbour in the province of Newfoundland and Labrador lies empty, pummeled by relentless snowstorms. Icebergs regularly float by in the bay. But for the three months of summer, the island opens briefly, like a portal to another quieter world. I had traveled to the island from New York City with my new husband as part of our honeymoon.


USA Today
6 hours ago
- USA Today
Fanatics Sportsbook Promo: Score up to $300 in Bonus Bets for Travelers, MLB & More
If you enjoy watching the world's best golfers make birdies instead of bogeys, then this week's Travelers Championship is going to be much more satisfying than last week's U.S. Open. And if you seek a satisfying betting experience, then you need to know all about the Fanatics Sportsbook promo that fills your world with bonus bets, No Sweat Bets or profit-boost tokens. Your road to potential riches depends, in part, on the road you live on. If you're a new bettor playing in Michigan, New Jersey or Pennsylvania, you're assured of $300 in bonus bets when you place $30 in first bets over a three-day stretch. If you're a new bettor in Arizona, Colorado, Illinois, Indiana, Louisiana, Massachusetts, Maryland, North Carolina, Ohio, Tennessee, Virginia or West Virginia, you'll gain $250 in bonus bets just for playing $50 in first bets over five days. New bettors in all states where Fanatics Sportsbook is live (except New York) can choose the flagship Fanatics Sportsbook offer that sends you as much as $1,000 in No Sweat Bets over a 10-day span. Bettors in New York, meanwhile, receive one 100% profit-boost token each day for 10 straight days. At last year's Travelers Championship — which also was played the week after the U.S. Open — Scottie Scheffler shot 22-under-par to take home the title and a bunch of money. Because this week's Travelers is a Signature Event with a $20 million purse, Scheffler and most of the PGA Tour's other big-name golfers are competing at TPC River Highlands. Get the Fanatics Sportsbook app — one of the industry's easiest-to-use sports betting apps — so you can track how the odds are moving during today's second-round action and on through the weekend. And keep an eye out for U.S. Open champ J.J. Spaun, who charmed a lot of golf and non-golf fans with how things played out Sunday at Oakmont Country Club. Ready to capitalize on one of the lowest-risk, highest-reward sportsbook promos out there? Tap any BET NOW button, take a minute to answer a few questions and then the Fanatics Sportsbook promo will point you toward your bevy of bonus bets, No Sweat Bets or profit-boost tokens. And check out the special golf betting promos crafted just for the Travelers Championship. Fanatics Sportsbook Promo: Score Up to $300 Bonus or $1000 in No Sweat Bets With the NBA and NHL crowning its champions this week and the NFL still a month away from training camp, MLB gets to enjoy more of the professional sports spotlight. There are going to be a lot of eyes on San Francisco tonight because, coincidentally enough, the Boston Red Sox visit the San Francisco Giants just five days after trading super slugger Rafael Devers to the Bay Area. In other MLB action today, the New York Mets and Philadelphia Phillies open a huge three-game series that could lead to a new NL East leader by Sunday. And if you enjoy watching dominant pitchers, check in on the Houston Astros' game at the Los Angeles Angels tonight because the Astros are sending Hunter Brown to the hill. He's 8-3 with a 1.88 ERA and 105 strikeouts in 86 innings. Check Fanatics Sportsbook's MLB odds to find Brown's over/under for whiffs. There's plenty of CONCACAF Gold Cup and FIFA Club World Cup action today. There's also a bit of a reunion happening in the WNBA. Paige Bueckers, the No. 1 pick in the WNBA draft, and her Dallas Wings will be in Connecticut tonight to face the Sun. Expect a ton of UConn fans to be there to root for their fave. The Fanatics Sportsbook promo makes it easy for you to have a fistful of bonus bets, No Sweat Bets or profit-boost tokens to play on this weekend's events. Hit the closest BET NOW button to start the swift sign-up process. How to Unlock the Fanatic Sports Promo Welcome Offers In just a few simple steps you can lock in your Fanatics Sportsbook promo. The Fanatics Sportsbook promo bet-and-get offers require a $10 qualifying bet on odds of -500 or better. In MI, NJ and PA, that qualifying bet returns $100 in bonus bets each day for three days. In AZ, CO, IL, IN, LA, MA, MD, NC, OH, TN, VA and WV, the $10 qualifying wager earns $50 in bonus bets each day for five days. If you choose either of these options, you will be automatically opted-in on Day 1 but you must opt-in manually on the subsequent days. Those in DC, IA, KS, KY, VT and WY, plus those in the above listed states, can get the No Sweat Bets offer instead of the bet-and-get offer can chose any bet at -500 odds or better to be your No Sweat Bet for up to $100 daily over a 10-day period. If that wager settles as a loss, Fanatics will provide a bonus-bet refund. Bettors in New York get a 100% profit boost daily for 10 days. Bonus bets provided by any of the Fanatics Sportsbook promo offers will be deposited within 72 hours of placing your qualifying bet. Divide up your bonus bets however you choose but use them within seven days of being deposited before they expire.