Private jets are descending on the typically quiet ski town of Davos as the masters of the universe make their way to Switzerland for the World Economic Forum.
Bill Gates, Nvidia’s Jensen Huang, Microsoft CEO Satya Nadella, and JPMorgan Chase CEO Jamie Dimon are among the business leaders scheduled to attend, along with world leaders like French President Emmanuel Macron, Argentina’s Javier Milei, and Donald Trump.
It’s unlikely any of these titans will fly commercial.
Last year, private aviation traffic in the region during WEF week was about five times the usual level, with more than 150 jets landing at area airports, according to JetSpy, which tracks FAA-registered aircraft.
They were registered to billionaires like Michael Dell and Robert Smith, and hailed from Palm Beach and Dubai, Paris, and Doha.
This weekend, corporate jets owned by Google, BlackRock, and IBM were among those that arrived in the area, according to data from JetSpy.
Few WEF attendees will fly into Engadin Airport, the airport closest to Davos and the highest in Europe by altitude.
“For many years, the WEF week has actually been one of the quietest weeks of the winter season for us,” Christian Gorfer, the airport’s chief financial officer, told Business Insider in an email.
Due to airspace restrictions within a 25 nautical mile radius of Davos, all flights to and from Engadin require prior authorisation from the Swiss Air Force.
“Some of our regular customers do fly in and out during that week, but WEF participants generally do not make their way to [Engadin],” Gorfer said.
Instead, many private jets and government airplanes will arrive at the Zurich Airport alongside regular airlines. It’s about a two-hour drive away from the Alpine town, but the wealthiest people will travel by helicopter instead.
The airport estimated there will be an extra 1,000 takeoffs and landings during the conference, with some landing after its typically strict curfew of 11:30 p.m. Zurich Airport is also extending the opening hours for an observation deck for planespotters and other aviation enthusiasts.
Others fly into Germany’s Friedrichshafen Airport, a Jetspy spokesperson told Business Insider.
The jets will be a parade of some of the most expensive on the market.
Many opt for the Gulfstream G650, which costs tens of millions and was the transport of choice for attendees like Gates, Louis Bacon, and executives from BlackRock and Goldman Sachs last year. Others fly on the Bombardier Global 7500, which has been dubbed the “Ferrari of the Skies.”
Read the original article on Business Insider
The post The world’s rich and powerful are descending on Davos — and many are coming by private jet appeared first on Business Insider.
