Private jet broker LunaJets admits mistake

Geneva-based LunaJets says it made a mistake last year; Now it is providing an update

Private jet charter broker LunaJets has issued a press release saying it was wrong. What was its mistake?

The Swiss-based private jet charter broker is correcting the forecast issued last September. LunaJets predicted a “perfect storm.”

Managing director Alain Leboursier said at the time, “Some jet operators or competitors seem to live in cuckoo-land by publishing over-optimistic press releases, podcasts, and articles. The private aviation industry has a long track record of frauds, capital misallocation, failures, and bankruptcies, including for manufacturers, operators, online platforms, suppliers, and charter brokers. The wake-up call is going to be painful, as the industry is much more fragile than during the 2001 and 2009 crisis.”

Now, in a mea culpa, Leboursier is saying, “Last September we had a bleak view on the state of the charter market, it turned out to be too pessimistic.”

What happened? “We concluded 2020 with the best performance in our 14-year history, mainly fuelled by an all-time high fourth quarter. Overall, the group experienced a record year with revenues up over 30%,” says Leboursier.

So far in 2021, there haven’t even been storm clouds on the horizon. Charter activity is 20% above pre-Covid19 levels.

“It is by far our best start of a year and particularly unexpected considering the volatility in the market as both our regular business and private clients have dramatically reduced their travel activity,” he continues.

During April, the broker says business doubled compared to 2019. Over 600 flight movements included long-haul flights to Asia, Africa, and the Indian Ocean.

Last year, LunaJets had a record number of new clients and increased demand for longer trips and larger aircraft. As a result, the company has opened offices in London, Paris, and Monaco to support client growth.