Joining the personal jet set

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LONDON, England (CNN) -- Private jets have along conjured up images of elegance, opulence and telephone number prices, while most senior executives find flying these days just so inconvenient. So what happens when you put the two together? You've got the makings of a new market segment, or so Lufthansa Technik believes.

The German company is at the forefront of equipping wide-bodied private jets to the highest specifications.

"The market for these planes comes from the middle field rather than the high end. The airplanes use standardized cabins, so they are not as expensive as the VVIP planes, so we're finding that there is an increasing demand for this kind of product." August Henningsen, Chairman of Lufthansa Technik, told CNN.

While Boeing Business Jets have long been staples of the private jet fleet that currently numbers around 300 circling the globe, Airbus' A318 Elite is now joining the fray.

As an off the shelf luxury jet it should appeal to those corporate high flyers looking for a status symbol or those with an entourage to rival that of Jennifer Lopez.

At upwards of $30,000 an hour, a wide-body jet costs more than a small executive plane. But at 14 to 16 seats, there is more than double the capacity.

A charter luxury jet company, Comlux is among the first to take delivery of a fully equipped A318 Elite.

On boarding one of their planes would reveal an entourage section for any, bodyguards, bag-carriers or macrobiotic chefs that you can't travel without plus a very large wardrobe section for all your shopping tours. The private section includes a lounge area with high-tech entertainment system, dining area and stateroom complete with double bed and private bathroom.

"The trend for these aircraft is coming from the U.S. where large corporations and wealthy individuals are renting a private plane because it makes more sense than owning one, " Eric Weisskopf of Comlux told CNN.

We concentrate on the European and U.S. markets, but have a client basis in Russia, the Middle East and have an eye on Indian and countries in the Far East."

A standardized version of the A318 Elite costs around $45 million, but it is possible to spend more on outfitting than on the actual plane.

Potential Masters of the Universe will have their eye on a biggest prize - a customized A380. Lufthansa Technik already has one eye on this lucrative future market where grand fit-outs can easily top $50 million.

But anyone with that much money to spend will still have to join the queue. With commercial orders to fulfill first, "private" A380s aren't likely to take to the skies until 2012 at the earliest. Who knows what the latest must have gadget will be by then.

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