Argus TraqPak expects drop in January private jet activity

After reporting a 3% decline in December, Argus TraqPak forecasts more red numbers in January for private jet activity.

By Doug Gollan, January 3, 2024

Argus TraqPak expects 2024 North American private jet flight activity to start on a down note.

Its forecast calls for flight hours to drop by a half percentage point compared to January 2023.

It carries over the decline in December, which finished 3% down year-over-year.

Argus had expected a half-point gain.

“Activity for December fell short of expectations once more, thanks in part to a 4% swing in expected activity the week between Christmas and New Year’s,” says Argus SVP Travis Kuhn.

He continues, “Overall, it seemed to cap off a relatively bland year for activity. We end 2023 with a very strong Fractional market, a relatively stable Part 91 market, and an overall decline in Part 135 (on-demand charter and jet card) market.”

Kuhn notes, “We’ll be watching those markets closely in 2024, along with small cabin and turboprop aircraft, which saw a year of consistent declines.”

For December, Fractional was up 11.8% year-over-year.

It was powered by a 21% gain in the large cabin segment.

Midsize fractional hours were up 11.8%, light jets gained 9.9%, and turboprops rose 6.6%.

Part 91 saw a 3% increase in large cabin flights and a 2.5% gain in the light jet sector.

However, midsize jets dropped 8.6%, pulling activity for the segment down 1.3%.

Part 135 again lagged, 10% down year-over-year, with red ink across all four categories.

The most significant drops were light jet (-15.2%) and turboprop operators (-13.7%).

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