Year-over-year private jet flying in February was down 3% from 2022 but still 12.6% ahead of 2020
Private jet flight activity continues its slide, according to the latest analysis from Argus TraqPak.
February private jet flights in North America dipped 3% from 2022’s record levels.
Argus had projected a 1.1% decline for the month in its 2023 annual forecast.
However, they were still 12.6% above 2020’s numbers.
“February turned out pretty close to what we were expecting, which seems to be more of a sign of stability. While the month was lower from the busiest February on record (February 2022), it’s still up more than 10% from pre-pandemic levels and recorded more than 500 flights per day when compared to January. The biggest areas of concern continue to reside in the middle of the Part 135 market,” says Argus SVP Travis Kuhn.
In February, the results by operational category were mixed for the month, with Fractional activity recording the only yearly increase, climbing 7.9% from February 2022.
North American Private Jet Flight Activity (Feb. 2023 vs. 2022)
The Part 91 market was mostly flat for the month as the top and bottom of the market fared better than the middle market.
Ultimately the segment finished down 1.6%.
Part 135 activity remains in a similar pattern of stable declines from its all-time highs. The segment finished down 8.4%.
The aircraft categories were all negative, with small cabin aircraft posting the largest decline, down 6.0%.
Mid-size cabin jets followed with a 3.5% drop, while turboprops and large cabin jets reported decreases of 1.0% or less.
Five different segments recorded increases in activity, with every segment in the Fractional market reporting yearly increases.
The largest increase was recorded in the midsize cabin Fractional market, up 9.8% year over year.
Looking ahead, Argus analysts project a 4.6% decrease in overall North American flight activity year over year in March 2023.
Their original forecast had called for a 3.8% drop.
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