Fractional operator Flight Options has announced it is laying off some 200 workers, including 75 pilots, in what comes as a major blow to what has seemed as of late to be a remarkably resilient private jet travel industry. The Cleveland, OH based jet travel provider cited the high cost of fuel as well as prevailing economic conditions which have reduced demand for travel among its clients.

The fortunes of private aviation have remained for the most part remarkably buoyant this year even amidst rising fuel costs and an overall sagging economy, outside of the unproven Very Light Jet sector. Manufacturers have reported record earnings with order books filled for years ahead, and among jet travel providers the long term outlook has been rosy enough that XOJet was able to secure $2.5 billion in financing for expansion.

An ominous detail in the news of these firings was Flight Options opinion that “prevailing economic conditions will continue,” as expressed in a statement the company released at the time of the firings. With $200 oil predicted on the horizon will there be a further culling amongst travel providers ahead? Sound off in our comments, and let us know what you think the future holds for jet travel providers during these uncertain economic climes.