Booming global demand for new business jets is expected to continue through the end of 2009 despite recent oil-price shocks and economic turmoil, according to the latest forecast by aerospace supplier Honeywell International Inc.

Lately it seems that the private jet revolution is bigger in Europe than in the U.S. The latest new fractional ownership and charter brand Jet Republic, a new company set to take on the European leader NetJets Europe.

Jet Republic has bought 110 Bombardier Learjet 60XRs which is a full 25 orders and 85 options valued at $1.5 billion which is said to be the largest single business jet order in European aircraft history.

The venture recently launched and will sell a Jet card at 130,000 euros ($190,000) for 25 hours of flying time. Jet Republic has arrangements with 30 business aircraft operators throughout Europe to provide charters for their customers.