April 25, 2024
Originally, Argus had expected July private jet flight activity in North America to show a year-over-year increase for 2023.
Argus TraqPak analysts forecast a 2.7% decrease in overall North American flight activity year over year in July 2023.
In its annual forecast, Argus had expected July to show a 0.6% increase compared to last year. “The summer flying season has started, and activity remained status quo in June.
On the negative side, we continue to monitor the declines in Part 135 activity, and we did revise our H2 2023 forecast slightly lower to account for those declines,” Argus Senior Vice President Travis Kuhn tells Private Jet Card Comparisons.
June showed a 2.7% year-over-year drop, against a 0.1% expected increase.
However, Argus had already revised its forecast for June to show a 0.7% drop at the beginning of the month.
June results by operational category were mixed for the month, with Fractional activity continuing to record the only yearly increase, up 4.5% from June 2022.
The Part 91 market reported more gains in smaller cabin activity, but losses in the top of the market pushed the segment down 0.5%.
Part 135 activity finished down 8.0% year over year.
Light jets took the biggest dive, down 12.6% year-over-over, while turboprops saw a 9.6% fall.
The aircraft categories were mostly negative this month, with large cabin jets posting the only monthly increase, up 1.4%.
Turboprops and small cabin jets posted 2.7% and 2.5% yearly declines, respectively. Midsize cabin jets finished down 4.6% from June 2022.
Seven individual segments reported year-over-year increases, with all four Fractional segments reporting yearly gains.
The largest increase was recorded in the Fractional large cabin market, up 16.5% year over year.
