HNW Individuals Increasingly Frequent Sri Lanka As Private Jet Volumes Surge

Tom Burroughes

9 January 2018

Private jet ownership and usage can be barometers of wealth trends, and if accurate, will suggest that Sri Lanka's economy is on an upward curve, according to recent figures.

The Sunday Times (of UK) reported that the number of international corporate jets visiting the country rose in 2017, with 569 recorded arrivals. There were 326 international corporate jet movements into the Bandaranaike International Airport up to September 2017; 126 into Ratmalana airport up to December 15; and as many as 117 into Mattala Rajapaksa International Airport (MRIA) up to September 2017.

In comparison, there were 416 private plane arrivals at all three airports in 2016; 450 in 2015; and 492 in 2014. The number of arrivals in 2013 was 372 - the lowest in five years, the report said.

The number of arrivals will be much higher once the November and December data for BIA and MRIA are added, the news organisation quoted Johanne Jayaratne, executive director of Airport and Aviation Services (Sri Lanka) as saying.

Jayaratne said high net worth individuals are increasingly frequenting the country to examine business opportunities.