April 25, 2024
Global private jet flight activity held its own this past week. However, one CEO says we are already in a recession and is preparing for bumpy skies ahead.
Worldwide private jet flight activity (72,105 segments) in Week 40 dropped 2% from the previous week, putting it flat with last year, according to the latest data from WingX.
The United States (50,719) was down 1% week-to-week, the same decrease from last year.
While Europe flights (12,273) fell 9% from the previous week, they were 3% ahead of 2022.
South America (+13%), the Middle East (+11%), and Asia (+10%) each saw double-digit growth compared to the same period a year ago.
|
Market |
Week 40 |
%Change vs. prior week |
%Change vs 2022 |
52-week high |
Week |
52-week low |
Week |
Last 4 Weeks |
%Change vs. 2022 |
|
Global |
72,105 |
-2% |
0% |
76,521 |
W26 2023 |
57,233 |
W51 2022 |
219,839 |
-1% |
|
North America |
54,582 |
-1% |
-1% |
58,838 |
W41 2022 |
41,108 |
W27 2023 |
218,824 |
-2% |
|
USA |
50,719 |
-1% |
-1% |
55,070 |
W41 2022 |
37,073 |
W27 2023 |
203,174 |
-2% |
|
Florida |
5,384 |
14% |
-1% |
9,174 |
W8 2023 |
3,628 |
W35 2023 |
19,032 |
1% |
|
California |
4,737 |
0% |
-2% |
5,512 |
W46 2022 |
3,463 |
W27 2023 |
18,993 |
-4% |
|
Texas |
5,314 |
5% |
-1% |
5,797 |
W43 2022 |
3,335 |
W27 2023 |
20,534 |
-5% |
|
Europe |
12,273 |
-9% |
3% |
16,289 |
W26 2023 |
6,648 |
W52 2022 |
52,787 |
-4% |
|
UK |
1,785 |
9% |
6% |
2,014 |
W28 2023 |
982 |
W52 2022 |
6,893 |
-6% |
|
Germany |
1,241 |
-21% |
-15% |
1,623 |
W24 2023 |
651 |
W52 2022 |
5,851 |
-14% |
|
France |
1,833 |
-20% |
-4% |
2,653 |
W26 2023 |
1,011 |
W52 2022 |
7,994 |
-2% |
|
Switzerland |
690 |
-13% |
-5% |
1,039 |
W3 2023 |
549 |
W47 2022 |
3,044 |
-4% |
|
Italy |
1,482 |
-12% |
14% |
2,264 |
W28 2023 |
511 |
W52 2022 |
6,230 |
-1% |
|
Middle East |
1,550 |
5% |
11% |
2,173 |
W50 2022 |
984 |
W52 2022 |
5,828 |
-3% |
|
Africa |
743 |
6% |
3% |
987 |
W17 2023 |
622 |
W2 2023 |
2,881 |
2% |
|
Asia |
2,388 |
-2% |
10% |
3,269 |
W50 2022 |
1,913 |
W27 2023 |
9,659 |
11% |
|
South America |
1,497 |
6% |
13% |
1,498 |
W32 2023 |
1,051 |
W44 2022 |
5,702 |
15% |
Source: WingX for Private Jet Card Comparisons. Includes Jets and VIP Airliners.
Fractional and charter operators flew 38,391 segments in the most recent week, a 2% increase from the previous week and 2% up from 2022.
The U.S. saw 27,056 Part 135/91K flights, a 5% week-to-week jump and 1% up from last year.
| Market (Part 91K & Part135) | Week 40 | % Change vs prior wk | % Change vs 2022 | 52-week high | Week | 52-week low | Week | Last 4 Weeks | % Change vs. 2022 |
| Global | 38,391 | 2% | 2% | 40,375 | W26 2023 | 31,174 | W51 2022 | 149,526 | 1% |
| North America | 28,040 | 4% | 1% | 30,412 | W52 2022 | 21,649 | W27 2023 | 107,591 | 0% |
| USA | 27,056 | 5% | 1% | 29,057 | W41 2022 | 20,505 | W27 2023 | 103,663 | 0% |
| Florida | 3,142 | 24% | 2% | 5,792 | W52 2022 | 1,958 | W35 2023 | 10,313 | 2% |
| California | 2,986 | 2% | -2% | 3,410 | W46 2022 | 2,253 | W27 2023 | 11,624 | -1% |
| Texas | 2,407 | 11% | -1% | 2,494 | W42 2022 | 1,404 | W27 2023 | 8,796 | -1% |
| Europe | 9,343 | -4% | 6% | 12,171 | W27 2023 | 4,995 | W52 2022 | 38,360 | 1% |
| UK | 1,371 | 15% | 10% | 1,516 | W28 2023 | 735 | W2 2023 | 5,236 | 0% |
| Germany | 934 | -15% | -11% | 1,223 | W37 2022 | 516 | W52 2022 | 4,143 | -12% |
| France | 1,395 | -15% | 2% | 1,943 | W27 2023 | 764 | W52 2022 | 5,834 | 1% |
| Switzerland | 531 | -10% | -3% | 776 | W7 2023 | 415 | W47 2022 | 2,257 | -2% |
| Italy | 1,188 | -8% | 18% | 1,847 | W28 2023 | 389 | W52 2022 | 4,859 | 3% |
| Middle East | 841 | 0% | 12% | 1,075 | W50 2022 | 512 | W52 2022 | 3,143 | 5% |
| Africa | 268 | 7% | 0% | 341 | W17 2023 | 180 | W04 2023 | 1,009 | 17% |
| Asia | 692 | 16% | 28% | 1,015 | W50 2022 | 443 | W31 2023 | 2,364 | 8% |
| South America | 33 | -13% | 43% | 83 | W45 2022 | 18 | W22 2023 | 141 | -3% |
Source: WingX for Private Jet Card Comparisons. Includes Jets and VIP Airliners.
In Europe, charter and fractional flying (9,343 segments) were down 4% from Week 39 and 6% up compared to Week 40 in 2022.
In Asia, the 692 segments were a 16% gain from the prior week and 28% ahead of 2022.
WingX Managing Director Richard Koe says, “Bizjet demand is realigning with levels in October 2022, which is when the post-lockdown surge tapered. European activity jumped up this week compared to last year, which may have been an anomaly based on the late summer sunshine. US flight activity in 2023 is cumulatively close to the same period in 2022, with fractional operators hitting new activity highs.”
If the numbers look okay, the new CEO of Verijet says don’t get comfortable.
Michael Marcotte says we are already in a recession, and providers need to get ready for turbulent skies ahead.
In an interview yesterday, he told us, “Part of caring about people is making sure a company is not only economically viable and survives, but thrives, during a significant recession, which we are in. Anybody who doesn’t understand that has not looked at the price of eggs or fuel.”
The Cirrus Vision Jet operator grounded six of its 21 aircraft and furloughed an undisclosed number of pilots.
