The association of Private Jets Nigeria says member companies have suffered about $5billion losses on account of the outbreak of COVID-19, The Nation reports.

Omotade Lepe, the Chief Operating Officer (COO) of the association said on Facebook that the coronavirus lockdown has been most challenging to operators.

“COVID-19 has dealt seriously with the aviation sector generally. But for the private jet operators, we can say we have lost over five billion dollars while the pandemic ravaged the world,” he said.

The official said that the association had put in place some measures to revamp the business post COVID-19 to recover some lost ground.

He said that luxury businesses generally needed to re-invent themselves because the market was becoming more competitive.

According to him, the association plans to go all out to attract business executives, corporate companies and more to recover some of the financial losses during COVID-19.

“The rich people never find private jet as a way of life. We are going to reach out to them post COVID-19, likewise lowering our bar to meet with the upper-middle class, business executives and corporate companies.

“The private jet business does not ordinarily warrant marketing, but in view of the business outlook now, we will be reaching out to improve patronage.

“ We are going to stop our previous attitude of “our customers know us”. We are now going by the slogan: “We are going to the customers.”

“ We will be taking the private jet business to the people rather than wait for people to come,” Lepe said.