April 25, 2024
After North American private jet flight activity dropped 3.6% in July, Argus TraqPak is projecting activity to be a tenth of a point below 2022’s record activity.
Argus TraqPak analysts estimate a 0.1% decrease in overall North American flight activity year over year in August 2023.
In its full-year forecast, Argus had expected an 0.8% gain.
It had expected July numbers to fall by 2.7%.
In the end, North American private jet flight activity was down 3.6% for July.
“July was a little slower than we initially anticipated but still relatively healthy from an activity standpoint. We continue to observe slowing activity on the bottom of the charter market while the entire fractional market continues to be a shining star. We expect more of this same environment to continue for at least the next few months,” says Argus SVP Travis Kuhn.
Large cabin jets were the only category in the black compared to last year during July, up 2.0%.
Turboprops saw the most significant dip, down 6.4%.
Light and Midsize jets were both down 3.5%.
Fractional flying was up 4.9%, with a 20.1% increase in large cabin flights.
By contrast, Midsize jets were up 4.8%, and light jets were up 1.9%.
Conversely, Part 91 flying dipped by 2.3%, with light jets, the only positive category, up 1.3%.
Part 135 activity dropped 8.5% from 2022’s record levels, with large cabin jets countering the trend, up 1.9%.
Turboprops and light jets were down 13.6% and 13.2%, respectively.
A note about the data that I think can be confusing.
