December 5, 2024
Argus Traqpak analysts say after dropping 2.5% last month, private jet activity is expected to see a 3.2% decline this month.
Argus TraqPak analysts expect North American private jet flights to drop 3.2% year-over-year in June.
That follows a 2.5% dip last month.
Argus had forecast a 1.1% decline.
“The North American market was a little lower than forecast but remains in the same territory it has been in for the last 24 months. Summer charter activity will be the focus to see if leisure travel can provide a necessary boost to the segment,” Argus SVP Travis Kuhn tells Private Jet Card Comparisons.
In May, only Midsize Jets saw a year-over-year gain, with activity up 2.4%
Large cabin flying was down 7.7%, while small jet flights dropped 4.4%.
Turboprops were down 3.3%.
Fractional operators continued to counter the headwinds.
The shared ownership operators saw a 13.2% gain in May.
Midsize jets led the way with an 18.0% year-over-year increase.
Small jets saw an 8.7% jump, and Large jets were up 5.7%.
Turboprops were in the red with a 1.2% drop.
Midsize jets inched out a 0.3% increase for Part 135 operators.
Large cabin jet flying plummeted 14.5% in May.
Light jets were down 2.1%. Turboprops declined 1.8%.
Speaking during the Jefferies Business Aviation Summit earlier today, Corporate Jet Investor Editor Alisdair Whyte posited the drop in charter activity is a byproduct of fractional operators needing less off-fleet capacity.
He said during the peak of 2021/22, fractionals were a significant buyer of third-party charters.
Part 91 flying was down across all categories.
Small and Midsize jets led the declines, down 9.7% and 9.0%, respectively.
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