After a dip in November, Argus TraqPak is expecting private jet flight activity to climb into the black this month.
After November’s forecast fell below expectations, the analysts at Argus TraqPak estimate a 0.5% increase in overall North American private jet flight activity in December compared to last year.
The current projection is down from the 1.2% growth Argus expected in its full-year forecast.
In November, flying dropped 0.3% compared to 2022.
However, the data specialist was expecting a 0.7% gain.
“The North American market continues to remain stable. Where we see declines in Part 135 activity, we see strength in Fractional activity, and November saw the first positive results for Part 91 activity since January, which is a welcome sign,” SVP Travis Kuhn tells Private Jet Card Comparisons.
He adds, “We have expected activity to officially turn positive these last few months, but November’s change of minus four-tenths of a percent is right in line with where the industry has been.”
Kuhn notes, “We are sticking with our expectation of an increase in December activity year over year, but, with how the industry has operated, we could end up down one percent as well. Either way, I expect the market to stay right around 285,000 to 290,000 flights for December.”
In November, fractional operators saw double-digit growth year-over-year across all categories, with a total gain of 16.1%.
Large cabin jets led the way with a 22.7% jump, while small and midsize private jets increased flying by 15.8%.