Private jets take off for Bill Gates

BILL GATES-backed Signature Aviation swung back into profit last year.

The private jet services firm, which offers everything from VIP lounges, limousine booking and sustainable plane fuel at airports worldwide, made £55million in 2021, against a £30million loss in 2020.

Turnover soared to £2.1billion

from £1.3billion in the same period.

Signature Aviation was snapped up by private equity giants GIP and Blackstone, and Bill Gates’s investment vehicle Cascade in a £3.5billion takeover in December 2020. At that time, the firm was listed on the FTSE250 and chaired by City veteran Sir Nigel Rudd. He was among a succession of directors to resign last year following the deal.

Private jet firms were some of the best performing aviation firms in the pandemic as the ultra-wealthy turned to them to go on holidays and business trips.