A better perspectiveFirstly, having others come into your market not only validates your vision, but gives you a much clearer perspective on your own strengths. It has also helped us evaluate what makes PrivateFly unique – and to communicate these strengths to our customers, our partners and our team.
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Creating market demandIn a disruptive space, when your competitors grow their brand, it increases the market demand for everyone. Many companies across the online private jet travel sector are spending a lot of marketing budget, mainly in Europe and the US. This is helping to increase awareness about new ways of booking a private jet – creating wider conversations around the topic, and additional PR value. The whole industry is benefitting.
Share the innovation journeyWhile we might have been first movers, others are also demonstrating real innovation. We recognise and appreciate their strengths, and embrace all of the experimentation that’s going on in our industry. It keeps us agile and responsive and gives us ideas to make PrivateFly even better. After all, you can’t be creative in a vacuum.
Rivals can come friendsThings move and change so quickly and in a fragmented market like ours, there’s a lot of consolidation. At PrivateFly we’re growing 50 per cent plus per year organically, but we’re also looking at ways to grow faster, through M&A opportunities. This started with our takeover of a small private jet charter broker in the US at the end of last year and is set to continue. So you never know when your competitors might become something more.
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