Business

Plane manufacturers target Asia’s wealthy elite with luxury private jets

A segment of the aviation industry is adapting its focus to cater to affluent travelers, offering a higher-end version of global air travel.

The Gulfstream G700 is a standout at the Singapore Airshow, Asia's premier aviation and defence exhibition, boasting a sleek design that features clean lines, expansive wings, and large oval windows.

Located in a more secluded area of the airfield, away from the bustling commercial and military aircraft, the G700 has attracted a steady stream of visitors who are willing to brave the heat to catch a glimpse of the luxurious interior, reflecting the ongoing fascination with this renowned private jet manufacturer.

The wait to board the aircraft is a lengthy one, as potential buyers engage in discussions with sales representatives about the multimillion-dollar price tags that come with these high-end planes.

Upon entering the cabin, the interior's elegance is readily apparent, with an abundance of natural light pouring in through the expansive windows to illuminate the creamy leather upholstery and polished wood accents.

According to the staff, the cabin is designed to resemble a residential space, complete with distinct "living areas", including a lounge with a sofa and entertainment system, as well as a private bedroom, dubbed the "grand suite", which features a shower.

A notable transformation is underway in the aviation industry, marked by a pronounced emphasis on luxury. As commercial airlines prioritize high passenger volumes, manufacturers of private jets are targeting a more exclusive and affluent demographic.

Data from aviation intelligence firm WingX reveals a significant increase in private jet flights, with approximately 3.7 million flights recorded globally in 2025. This represents a 5% rise from the previous year and a 35% surge compared to pre-pandemic levels.

The global population of ultra-high-net-worth individuals, defined as those with a net worth exceeding $30 million (£22.2 million), has experienced substantial growth between 2020 and 2025, with an increase of over 70%.

According to Scott Neal, Gulfstream's worldwide sales head, a significant shift is occurring in the use of business aircraft, driven by large corporations and high-net-worth individuals.

As companies expand their global reach, the need for efficient travel solutions has become increasingly important, with business aircraft emerging as a preferred mode of transportation for traversing the globe, as noted by industry experts.

The business jet market is highly competitive, with Gulfstream facing rivalry from several major players, including Dassault, Bombardier, Embraer, and Textron Aviation, the manufacturer of Cessna jets.

However, the growth of the private jet industry has also drawn criticism, particularly with regards to its environmental impact, which has become a significant concern for some observers.

Despite these challenges, manufacturers are capitalizing on the demand for private jets, recognizing the potential for financial gain in this sector, especially among airlines that operate long-haul routes and offer full-service flights, which often have narrow profit margins.

A Gulfstream G700 business jet, manufactured by Gulfstream Aerospace Corp. — Gulfstream is one of the largest manufacturers of private jets in the world

According to the International Air Transport Association (IATA), the profit margins of airlines are typically quite low, ranging from 2% to 4% above their operational expenditures, highlighting the financial constraints faced by the industry.

Although private jets are produced in limited quantities, they command high price tags, generating significant revenue for manufacturers, who also earn income from after-sales support, spare parts, and maintenance services.

Dassault Aviation, a French company renowned for its military aircraft, is highlighting the benefits of its Falcon business jets, which leverage technology originally developed for combat planes to enhance performance and comfort.

The client base for Dassault's business jets includes a mix of corporate entities, government agencies, and individuals with significant financial resources.

According to Carlos Brana, who leads Dassault Aviation's civil aircraft division, the high upfront cost of private jets, which can reach tens of millions of dollars, can be justified for those who travel frequently.

For frequent flyers, owning a private jet may ultimately prove more cost-effective than purchasing multiple first-class tickets over time, as noted by Dassault Aviation.

Brana observes that the primary motivation for most buyers is not to indulge in luxury, but rather to optimize their travel arrangements for greater efficiency.

In an interview with the BBC on the company's flagship Falcon jet, he emphasized the importance of efficient travel, stating that his goal is to minimize time spent on stopovers and connections in order to reach his destination as quickly as possible.

According to him, passengers are not necessarily seeking opulent amenities, but rather a comfortable and fatigue-free travel experience. The interior of the jet, with its high-quality materials and elegant design, is a testament to this approach, eschewing extravagance in favor of understated refinement.

Minimizing passenger fatigue has emerged as a major selling point for aircraft manufacturers.

To address this concern, manufacturers have been highlighting improvements such as enhanced cabin air pressure, reduced noise levels, and sophisticated interior designs, all aimed at making long-haul flights less exhausting.

Certain jets are designed to maintain cabin pressure at a level similar to that experienced on the ground, which manufacturers claim helps reduce passenger fatigue on long flights.

The Asian market plays a significant role in the overall growth narrative, with its impact being felt across various sectors.

Seats onboard a Dassault Falcon 6X business jet on display during the Singapore Airshow in Singapore, — France's Dassault Aviation is pushing its Falcon business aircraft

A recent report released by Alton Aviation Consultancy prior to the Singapore Airshow this year indicates that international air travel in the Asia-Pacific region experienced an 8% increase in 2025, surpassing the global growth rate of 6.8% for the same period.

Over 600 new routes have been introduced by airlines since 2015, resulting in enhanced connectivity for previously underserved areas, and contributing to the region's expanding air travel network.

While the demand for private jet travel has slowed somewhat, it still maintains a larger proportion of premium travel demand compared to pre-pandemic levels.

Scott Neal of Gulfstream noted, "We're currently witnessing a high level of activity in Asia, particularly in South East Asia, where our market share is expanding and we're delivering a growing number of aircraft to the region, with countries such as Vietnam, Singapore, Indonesia, Malaysia, Australia, and New Zealand being key areas of focus."

According to Dassault, increasing demand is being observed in countries such as India, Thailand, and Laos. Additionally, in nations like Indonesia and the Philippines, where many airports have limited runway lengths, smaller business jets can access areas that are inaccessible to larger commercial aircraft.

Dassault notes that China, which once had the largest private jet fleet in Asia, has experienced a decline in recent years.

However, Brana anticipates a resurgence in demand for private jets as Chinese companies continue to expand globally, creating a growing requirement for faster and more direct travel options that are not available through commercial flights.

Despite being a developing market, the Asia-Pacific region accounts for a significantly smaller proportion of the global business jet fleet compared to the US, which constitutes approximately 70% of the worldwide business aviation market.

This strategic shift has been met with criticism from some analysts, who argue that prioritizing a niche group of affluent buyers detracts from the broader market and fails to address the supply chain issues that have affected aircraft manufacturers since the onset of the pandemic.

Gulfstream's Grand Suite with a shower — Gulfstream says customers are travelling more for business globally

The environmental impact of private jets is a significant concern globally, with many critics pointing out that they have a substantial carbon footprint due to their high emissions.

According to Gulfstream, its latest models are capable of operating on 100% sustainable aviation fuel, whereas Dassault currently accommodates a blend of 50% sustainable and 50% traditional fuel.

A major hurdle for the aviation industry is securing a sufficient supply of sustainable aviation fuel, as production levels are currently low and the cost exceeds that of conventional fuel by a wide margin.

Aircraft manufacturers argue that their newer models offer improved fuel efficiency, enabling them to cover longer distances without refueling, which in turn reduces their overall environmental impact.

Gulfstream's Neal noted, "We've achieved a 35% reduction in fuel consumption for similar missions over a single generation of aircraft, and as a pioneer in sustainable aviation fuel, we remain committed to investing in environmentally friendly technologies and efficiency."

A shift towards catering to affluent passengers is evident not only in the private jet sector, but also among commercial airlines, which are increasingly targeting high-end travellers.

Business class seats onboard an Airbus SE A350-1000 aircraft operated by Starlux Airlines Co. during the Singapore Airshow in Singapore — Taiwan's Starlux is expanding its premium cabin offerings

Starlux, a Taiwanese airline that positions itself as a luxury carrier, is adopting a strategy that prioritizes quality over quantity, moving away from low-cost tickets and crowded cabins.

At the Singapore Airshow, Starlux showcased its revamped cabins on the flagship Airbus A350-1000, highlighting expansions to its first, business, and premium economy classes.

Onboard amenities include large 4K TV screens, while seats across all cabins have been redesigned to provide greater width and comfort compared to those found on standard aircraft.

Both private jet manufacturers and commercial airlines are placing a strong emphasis on delivering a luxurious travel experience, with a focus on comfort, convenience, and high-end amenities.

The increasing wealth of the ultra-high-net-worth population is driving a steady demand for luxury air travel, with no indications of a decline in the foreseeable future.

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Artist Alleges AirAsia Used His Work Without Permission

A street artist from Penang has reported that one of his artworks has been replicated and featured on the design of an airplane.

A lawsuit has been filed by a Malaysian-based artist against AirAsia and its parent company, Capital A Berhad, alleging unauthorized use of the artist's designs on one of the airline's planes.

A low-resolution image of an AirAsia aircraft with artwork children cycling printed on its side. The passenger plane is pictured parked in an airport — Artist Ernest Zacharevic is sueing AirAsia over the use of a livery on one of its jets in 2024

According to the lawsuit, Ernest Zacharevic, a Lithuanian-born artist residing in Penang, claims that his 2012 street mural, Kids on Bicycle, was reproduced and displayed on an AirAsia aircraft in late 2024 without his permission.

Zacharevic states that the use of his design was unauthorized, and no licensing agreement or consent was obtained, adding that the livery was removed after he publicly expressed concerns about the matter.

The BBC has reached out to AirAsia for a statement regarding the allegations.

In an interview with the BBC on Thursday, Zacharevic recalled that he first became aware of the alleged copyright infringement in October 2024, when he discovered that an AirAsia plane was featuring a livery resembling his artwork.

With over a decade of experience in Malaysia, Zacharevic is known for his roadside murals in Penang, which have become a staple of the local art scene.

One of Zacharevic's notable works is the 2012 street mural Kids on Bicycle, created for a local festival, which features two children on a bicycle integrated into the mural, located in George Town's heritage district.

The mural has become a popular tourist attraction, with many visitors taking photos in front of the iconic artwork.

Zacharevic alleges that his work was reproduced on an AirAsia plane without his knowledge or consent, and he personally witnessed the plane in operation at an airport.

Recalling the incident, Zacharevic expressed his discomfort with the situation, which occurred in 2024.

He took to social media to address the issue, posting a photo of the plane and tagging the airline, suggesting that they needed to discuss the use of his artwork.

A photograph of a wall mural, depicting two children in white tops. The images in painted to show the children seated on a real-life bicycle. — Zacharevic painted Kids on Bicycle, a famous wall mural in Penang, in 2012

Since then, Zacharevic has engaged in discussions with the company, but they have been unable to come to a mutually agreeable resolution.

This is not the first instance of Zacharevic's work being used in connection with AirAsia, as he claims the airline has also used his artwork on a delivery bag for its food services arm.

Court documents reveal that Zacharevic had previously discussed a potential collaboration with AirAsia in 2017, where he would create art for the airline's jets and a mural in one of their offices.

According to the documents, Zacharevic had informed the airline of his work and business rates during these discussions.

The lawsuit asserts that despite being aware of Zacharevic's work and rates, the airline proceeded to reproduce and publicly display one of his notable works, thereby infringing on his copyright and moral rights.

As the largest low-cost carrier in Asia, AirAsia operates over 200 jets to more than 100 destinations, and has recently announced plans to resume flights from Kuala Lumpur to London via Bahrain.

Zacharevic has stated that he will leave it to the court to determine any potential compensation he may be entitled to.

The artist emphasized that he does not consider the use of his artwork to be a mere reference to cultural or geographical associations, but rather a distinct artistic creation.

Zacharevic stressed that his artwork is the result of years of professional training, skill, and labor, and should be recognized as such.

Business

US Businesses and Consumers Bear Brunt of Trump Tariff Costs, According to NY Fed

In 2022, the United States saw a significant increase in collective import tariff rates, with rates rising by more than 300 percent for a range of imported goods.

The modification of tariff agreements by President Donald Trump with several countries had a consistent outcome: increased costs for US-based companies and consumers.

A damp sidewalk in New York City being crossed by men and women carrying shopping bags.

According to a study released on Thursday by the Federal Reserve Bank of New York, the average tariff rate on imported goods increased significantly, rising from 2.6% at the beginning of the year to 13% in 2025.

The New York Fed's research revealed that US companies absorbed approximately 90% of the costs associated with the higher tariffs imposed by Trump on goods from countries such as Mexico, China, Canada, and the European Union.

The Federal Reserve Bank of New York stated that "the majority of the economic burden of the high tariffs imposed in 2025 continues to be borne by US firms and consumers."

When tariff rates changed and increased in the previous year, exporting countries did not adjust their prices to mitigate potential declines in US demand.

Instead of lowering prices, exporters maintained their existing prices and transferred the tariff costs to US importers, who subsequently increased the prices of these goods for consumers.

The response of exporters in 2025 was similar to their reaction in 2018, when Trump introduced certain tariffs during his first term, resulting in higher consumer prices with minimal other economic effects, as noted by the New York Fed at the time.

The New York Fed's findings on Thursday are consistent with the results of other recent analyses.

The Kiel Institute for the World Economy, a German research organization, reported last month that its research indicated "nearly complete pass-through of tariffs to US import prices."

By analyzing 25 million transactions, Kiel researchers discovered that the prices of goods from countries like Brazil and India did not decrease.

The Kiel report noted that "trade volumes declined" instead, indicating that exporters preferred to reduce the quantity of goods shipped to the US rather than lower their prices.

The National Bureau of Economic Research also found that the pass-through of tariffs to US import prices was "nearly 100%", meaning that the US bears the cost of the price increase, not the exporting countries.

Similarly, the Tax Foundation, a Washington DC-based think tank, found that the increased tariffs on goods in 2025 resulted in higher costs for American households.

The Tax Foundation considered tariffs as a new tax on consumers and estimated that the 2025 increases resulted in an average cost of $1,000 (£734.30) per household, with a projected cost of $1,300 in 2026.

The Tax Foundation reported that the "effective" tariff rate, which accounts for decreased consumer purchases due to higher prices, is now 9.9%, representing the highest average rate since 1946.

The Tax Foundation concluded that the economic benefits of tax cuts included in Trump's "Big Beautiful Bill" will be entirely offset by the impacts of the tariffs on households.

Business

BBC Reporter Exposed to Cyber Attack Due to Vulnerabilities in AI Coding Tool

The demand for vibe-coding tools, which enable individuals without coding experience to develop applications using artificial intelligence, is experiencing rapid growth.

A significant and unresolved cyber-security vulnerability has been identified in a popular AI coding platform, according to information provided to the BBC.

BBC reporter's laptop wallpaper reads "you are hacked" with an image of a robot skull — The hacker was able to hijack a BBC reporter's laptop to upload this wallpaper

The platform, known as Orchids, utilizes a "vibe-coding" approach, enabling individuals without technical expertise to create apps and games by inputting text prompts into a chatbot.

In recent months, such platforms have gained widespread popularity, often being touted as an early example of how AI can rapidly and affordably perform various professional tasks.

However, experts warn that the ease with which Orchids can be compromised highlights the risks associated with granting AI bots extensive access to computers in exchange for autonomous task execution.

Despite repeated requests for comment, the company has not responded to the BBC's inquiries.

Orchids claims to have a user base of one million and boasts partnerships with top companies, including Google, Uber, and Amazon.

According to ratings from App Bench and other analysts, Orchids is considered the top program for certain aspects of vibe coding.

Cyber-security researcher Etizaz Mohsin demonstrated the platform's security flaws to the BBC.

To test the platform's security, a spare laptop was used to download the Orchids desktop app and initiate a vibe-coding project.

A request was made to the Orchids AI assistant to generate code for a computer game based on the BBC News website.

Screenshot of the Orchids app. Shows computer code being created in an action window and folders and chat box — Orchids is one of many AI agent platforms that writes code for users who have no experience

The AI assistant automatically compiled code on the screen, which, without prior experience, was unintelligible.

By exploiting a specific cyber-security weakness, Mohsin was able to access the project and view and edit the code.

Mohsin then added a line of code to the project, which went unnoticed.

This action apparently allowed him to gain access to the computer, as evidenced by the subsequent appearance of a "Joe is hacked" notepad file on the desktop and a changed wallpaper featuring an AI hacker image.

The potential implications of this hack on the platform's numerous projects are significant.

A malicious hacker could have easily installed a virus on the machine without any action required from the victim.

Sensitive personal or financial data could have been compromised.

An attacker could have accessed internet history or even used the computer's cameras and microphones for surveillance.

Most cyber-attacks involve tricking victims into downloading malicious software or divulging login credentials.

This particular attack was carried out without any involvement from the victim, known as a zero-click attack.

Mohsin stated that the vibe-coding revolution has introduced a new class of security vulnerabilities that did not previously exist, highlighting the risks associated with relying on AI to handle tasks.

The concept of AI handling tasks autonomously comes with significant risks, according to Mohsin.

Mohsin, a 32-year-old from Pakistan currently residing in the UK, has a history of discovering dangerous software flaws, including work on the Pegasus spyware.

Etizaz Mohsin standing at the podium giving a presentation. He has black hair and wearing a brown leather jacket and jeans — Etizaz Mohsin speaking about cyber-security at the prestigious BlackHat conference

Mohsin discovered the flaw in December 2025 while experimenting with vibe-coding and has since attempted to contact Orchids through various channels, sending around a dozen messages.

The Orchids team responded to Mohsin this week, stating that they may have missed his warnings due to being overwhelmed with incoming messages.

According to the company's LinkedIn page, Orchids is a San Francisco-based company founded in 2025 with fewer than 10 employees.

Mohsin has only identified flaws in Orchids and not in other vibe-coding platforms, such as Claude Code, Cursor, Windsurf, and Lovable.

Nonetheless, experts caution that this discovery should serve as a warning.

Professor Kevin Curran of Ulster University's cybersecurity department notes that the main security implications of vibe-coding are the potential for code to fail under attack due to a lack of discipline, documentation, and review.

Agentic AI tools, which perform complex tasks with minimal human input, are increasingly gaining attention.

A recent example is the Clawbot agent, also known as Moltbot or Open Claw, which can execute tasks on a user's device with little human intervention.

The free AI agent has been downloaded by hundreds of thousands of people, granting it deep access to computers and potentially introducing numerous security risks.

Karolis Arbaciauskas, head of product at NordPass, advises caution when using such tools.

Arbaciauskas warns that while it may be intriguing to see what an AI agent can do without security measures, this level of access is also highly insecure.

He recommends running these tools on separate, dedicated machines and using disposable accounts for experimentation.

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