Tuesday, July 28, 2009

The Sky's the Limit in an Economic Downturn

Call the current economic climate whatever you wish – downturn, recession, slowdown. For some, there is only one word – opportunity.

There is no question that the economic world has changed as a result of this downturn. However, business has not ceased, nor has cash become a thing of the past. Here and there, savvy business entrepreneurs have kept their eyes open and found niches of opportunity to make money – lots of money – at a time when others are unsure of their financial futures.

SwiftJet is a private charter jet service based out of Toronto's Pearson International Airport. While commercial airlines are restructuring and trimming due to reduced air travel, this airline is booked solid. The company's founder and chief executive, Bassam Al-Sarraj, realized that corporate executives have neither the time nor the patience for flying commercially. Traveling by private jet is a necessity, not a luxury for many business executives. The need to meet in several distant places in a short span of time negates flying commercially. Time spent with check-ins, baggage drops, security checks, and boarding time is precious productive time lost in the business world. SwiftJet operates to meet the needs of the corporate executive. All the amenities of commercial airlines are made available. And, this airline guarantees that the passenger's luggage will never be lost.

It is true that some companies that previously owned their own private jets have sold their planes in order to trim their finances. However, entrepreneurs like Mr. Al-Sarraj realized that the companies still needed that service. He merely allowed large companies to reduce their operating overhead by a unique type of outsourcing.

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