Q3 Report: Private jet price for jet cards and on-demand charters continues to increase

By Doug Gollan, October 2, 2022

The cost of flying privately on fixed-rate, guaranteed availability programs continued to increase in Q3 2022. However, they still beat on-demand pricing in many instances

There was no let-up in private jet price inflation during the third quarter of 2022. The hourly cost of fixed-rate jet cards that offer guaranteed availability increased by 4% over the past 90 days.

The average hourly rate, according to Private Jet Card Comparisons’ database of more than 250 programs with fixed-rates and guaranteed availability, surged to $11,200 per hour, 33.3% ahead of December 2020 lows when the CARES Act eliminated the 7.5% Federal Excise Tax.

So far this year, the database has been updated 71 times.

Still, on-demand charter pricing is not offering a safe harbor for price shoppers.

In 10 of the 12 flight scenarios, we compare flight pricing (bottom table), the fixed-rate jet card average programs beat the lowest quotes from on-demand brokers that offer bookable dynamic pricing.

Bookable dynamic pricing means hard quotes that can be booked online in real-time as opposed to estimates that may not be accurate or available.

The average of the lowest dynamic pricing charter quotes we were able to obtain for the 12 flight scenarios was $29,974 each way, an 18% increase from Q2.

That’s a change from our Q2 private jet charter price analysis when we were able to beat fixed hourly rate jet card pricing in 10 of the 12 scenarios.

In our Q1 analysis, average jet card pricing was lower than on-demand charter quotes in seven of 12 scenarios.

Private Jet Charter Pricing – September 2022 (Fixed hourly rates)

Jet card hourly rates include hourly cost, fuel surcharge, and supplemental charges, plus the 7.5% Federal Excise Tax.

  • Turboprops averaged $6,608 per hour, down 0.6% from Q2 2022 and up 48.4% from Dec. 2020
  • Very Light Jets averaged $7,368 per hour, down 4.9% from Q2 2022 and up 44.4% from Dec. 2020
  • Light Jets averaged $8,041 per hour, down 0.1% from Q2 2022 and up 43.6% from Dec. 2020
  • Midsize Jets averaged $9,351 per hour, up 0.3% from Q2 2022 and up 34.3% from Dec. 2020
  • Super Midsize Jets averaged $12,116 per hour, up 4.0% from Q2 2022 and up 31.8% from Dec. 2020
  • Large Cabin Jets averaged $15,272 down per hour, up 1.1% from Q2 2022 and up 26.1% from Dec. 2020
  • Ultra-Long-Haul Jets averaged $20,123 per hour, up 5.4% from Q1 and up 31.4% from Dec. 2020

Overall, the average hourly rate for fixed/capped rate jet card programs is now $11,200. Taking out turboprops, the jet rate is $11,410 per hour.

Jet card prices include North American providers currently selling or renewing fixed/capped-rate jet card programs and memberships with guaranteed availability.

Jet Card Pricing – Hourly Rates – September 2022

 Private Jet TypeSept. 2022
Hourly Rates
Change 2022
Sept vs. June
Change from
Dec 2020
Turboprop $          6,608-0.6%48.4%
Very Light $          7,368-4.9%44.4%
Light $          8,041-0.1%43.6%
Midsize $          9,3510.3%34.3%
Super Midsize $        12,1164.0%31.8%
Large $        15,272-1.1%26.1%
Ultra-Long-Haul $        20,1235.4%31.4%
Overall $        11,2004.0%33.3%
Without Turboprops $        11,4104.2%32.2%
Source: Private Jet Card Comparisons

If you are looking for a silver lining, turboprops (-0.6%), light jets ( -0.1%), Midsize (+0.3%), and Large Cabin (-1.1%) jets all had decreases or negligible increases.

Large cabin jets (+5.4%) and super midsize jets (+4.0%) saw the largest price increases.

Still, the average hourly rate for a light jet stayed above the $8,000 per hour mark.

Fixed-Rate Jet Cards vs. On-Demand Charter Pricing

The ability to beat jet card pricing with on-demand dynamic pricing flipped in Q3, with the lowest on-demand quotes only beating average just card prices in two of 12 scenarios.

The wins for on-demand, dynamic pricing were both between Miami-Opa Locka Airport and Teterboro Airport, underscoring that the market-based pricing is typically more attractive on routes that are heavy with private jets and if you can be flexible.

For example, while the low on-demand quote for OPF-TEB on a light jet was $13,688, the high quote was $31,224.

The average fixed-rate jet card price was $22,649 for a light jet.

At the same time, the lowest instant booking on-demand quote for a midsize jet was $24,634, with a high of $39,017.

The average fixed-rate jet card price was $26,339 for a midsize jet from Miami to New York.

Q3 2022: Jet Card vs. On-Demand Private Jet Charter Pricing

Charter Low
Charter High
 Jet Card Avg.
OPF-TEBLight157 $        13,688 $               31,224 $        22,649
OKC-PITLight133 $        19,789 $               31,224 $        19,432
BFI-PSPLight141 $        26,551 $               29,527 $        20,505
OPF-TEBMidsize157 $        24,634 $               39,017 $        26,339
PDK-HOUMidsize107 $        18,921 $               32,463 $        18,546
ASE-MSYMidsize163 $        28,009 $               41,599 $        27,274
OPF-TEBSuper Mid145 $        32,477 $               40,408 $        31,704
OKC-PITSuper Mid120 $        30,760 $               54,098 $        26,655
BFI-PSPSuper Mid133 $        37,039 $               45,792 $        29,280
OPF-TEBLarge151 $        44,264 $               61,219 $        41,489
ASE-MSYLarge132 $        39,107 $               72,991 $        36,653
BFI-PSPLarge115 $        42,290 $               67,916 $        32,326
Avg Q3   $        29,794 $               45,623 $        27,738
Avg Q2   $        24,367 $               41,464 $        25,744
Source: Private Jet Card Comparisons; Charter Broker confirmed pricing quotes one-way between Oct. 15 and Nov.15, 2022. Jet card pricing includes federal excise tax, fuel surcharges, taxi time, and other fees.

For the 12 private jet charter scenarios we track, the average flight price for fixed-rate jet cards with guaranteed availability increased from $25,744 at the end of the second quarter to $27,738.

At the same time, the lowest average price for bookable on-demand charter quotes increased from $24,367 to $29,794.

On the high side, the on-demand quotes increased from $41,464 to $45,623.

Peak Days and Callouts

Some good news for jet card programs is the average number of Peak/Blackout Days held steady at 53.7, up only eight-tenths of a percent from Q2, although still more than double the pre-Covid average of 22.8 days.

The lead time for non-peak booking dropped slightly from 62.9 hours to 62 hours, a 1.5% drop. However, that’s still higher than the 23.2 hours average we tracked in Dec. 2019.

Bottom Line

While the airline delays maybe still driving flyers, what’s clear is finding a singular solution for private flying is become more difficult, and the ability to find lower pricing is based largely on where you are flying and how flexible you are.

In the meantime, at least light jets and midsize jets saw pricing stabilize in Q3.

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