We spoke to Virgin Charter CEO Scott Duffy to find out what’s new with the start-up online charter marketplace. On Tuesday we reported on the company’s plans for better cooperation with corporate siblings in Branson’s Virgin Empire. Today we look at Virgin’s outlook in a recession and the company’s new global distribution system or GDS.

Virgin Charter’s entry into the market seems to not have been too badly affected by a recession which has seen private jet demand fall over the last year. In fact, Duffy noticed some trends that even amidst the downtick bode well for the industry. Among business travelers, he said, there seems to be an increase in junior-level executives utilizing private jets, taking advantage of the greater efficiency over commercial aviation to turn a four-day trip visiting factories in three states into one that can be completed in just a day.

According to Duffy, regions have been affected differently by the recession. Charter demand is down the most in the Northeast. Bookings have dropped anywhere from 15 to 25 percent, where the economic crisis has impacted Wall Streeters who typically fly privately. On the West Coast, where the high tech and entertainment industries have remained buoyant, jet demand is flat.

Earlier this summer Virgin Charter launched the first ever GDS for private charter bookings. GDSs were first developed by the airlines in the ‘70s as a way to keep track of seat inventory and pricing in real-time. The GDS has become integral to corporate travel departments and forms the basis of the online airfare booking sites like Expedia and Travelocity that millions of consumers use today.

Virgin Charter’s development of a GDS is a major boon for the company. It allows for real-time pricing of charter flights. Previously, users would submit trip requests which were then passed off to charter operators who in turn would provide bids. That process could take several hours. Now immediately after a user submits a trip request, prices and availability for charter operators who have opted into Virgin’s new system appear immediately. “The thing I’m most proud about our site right now is the real-time pricing,” said Duffy.

Secondly, the new GDS makes booking a charter jet a streamlined task for corporate travel departments who rely on these systems to arrange the majority of their companies’ travel. This new GDS help positions Virgin Charter as integral part of corporate business travel.

Tune into tomorrow for part three of our wrap up with Virgin Charter’s Scott Duffy.