New research shows private jet flyers are optimistic about their finances, and new since Covid flyers are staying private.
Private jet flyers are optimistic about their finances, with little attrition of those users who started flying privately after the start of the Covid-19 pandemic.
In a survey of paid subscribers to Private Jet Card Comparisons, respondents were overwhelmingly positive about their personal financial outlook over the next 12-to-24 months.
Overall, 73.1% of respondents said they are Extremely/Very Confident about their financial outlook, with approximately half (36.1%) saying they are Extremely Confident (chart below).
| How do you feel about your personal financial outlook over the next 12-to-24 months? | |
| Extremely confident | 36.1% |
| Very confident | 37.2% |
| Somewhat confident | 24.1% |
| Not so confident | 1.9% |
| Not at all confident | 0.8% |
Nearly a quarter of those surveyed (24.1%) said they are Somewhat Confident about their personal financial outlook.
Only 2.7% said they were Not So Confident or Not Confident at All.
The net impact appears to be an increased appetite for private flights.
93.2% of consumers who started flying privately after the start of the Covid-19 pandemic say they are continuing to fly privately.
The percentage of new since Covid private flyers who said they have stopped or plan to stop private flights increased from 5.6% to 6.8% from 2022 to 2023.
However, the percentage of those flyers who said they would use private aviation regularly increased from 39.9% to 50.7%.
That number had dropped from 57.1% to 39.9% from 2021 to 2022.
Of respondents who were flying privately prior to Covid, only 12.2% say they are flying less. That’s in line with 11.9% from last year’s survey.
In addition to confidence in personal finances, airlines are helping push users to fly private.
52.4% said I am or will fly privately more because of what’s happening with the airlines.
One respondent noted, “I would have flown commercial airlines more often if it weren’t such a disaster.”
Another added, “Just had two missed connections on a trip last two weeks due tight connections and delayed first leg. Both flights plane was still at the gate but closed. Very frustrating in that it caused us to stay overnight in hub cities to catch another flight the next morning. Really a major pain.”
Results are based on over 300 completed responses returned between July 21 and July 30, 2023.
79% of respondents use jet cards, 44% charter trip-by-trip, 20% have fractional ownership, 12% own their private aircraft and 3% fly on company jets.
Additionally, 9% use jet sharing and by-the-seat providers, while 20% say they share informally via rides on friends’ private jets.
The survey is part of the 2023/24 Jet Card Report by Private Jet Card Comparisons, published later this Fall.
This year’s edition includes new questions about how sustainability programs factor in provider choice, concerns about the financial stability of providers, flexibility to move departure to avoid fees or save money, and lifestyle interests.
