April 25, 2024
September private jet flight activity was down 4.2% compared to the Argus forecast of 4.5%.
Argus TraqPak is forecasting a 0.4% increase in North America’s private jet flight activity for October compared to last year.
Its full-year forecast had pegged October for a 0.6% gain, making the revised forecast largely in line with the original.
September 2023 finished down 4.2% compared to 2022.
Argus had forecasted a decline of 4.5% for September.
Its beginning-of-the-year forecast had pegged the dip at 2.4%.
“Overall, September went about as we expected, which is neither good nor bad. It’s encouraging that the daily flight average increased from August to September, but the industry is still off 4.5% for the month. We will watch Q4 closely in order to evaluate the health of our industry from an activity standpoint. We expect activity to be positive for the quarter, which would certainly be an encouraging trend,” Argus SVP tells Private Jet Card Comparisons.
Looking at September, Fractional Operators, private jet flight activity saw a 9.2% year-over-year jump.
Part 135 (On-Demand Charter and Jet Cards) was off 4.1%, while Part 91 activity flying dropped 8.4%.
Large Cabin activity was strongest, just 0.2% below September 2022.
Turboprops had the biggest drop, down 7.2% year-over-year.
For Part 135 operators, Large Cabin (2.7%) and Midsize Jets (1.9%) both show gains.
Midsize Jets (up 10.1%) were the strongest segment for Fractional Operators, with Large Cabin Jets up 9.0%.
Regionally, New England was soft, down 16.9% from September a year ago.
The region covering Texas, Oklahoma, New Mexico, Arkansas, and Louisiana had the biggest gain, with an 8.9% increase.
The Southeast Region, including Florida, was up 7.0% in September.
