October 3, 2024
After a 4.9% year-over-year decline in June, Argus Traqpak expects a 0.2% gain for private jet flying in July.
North American private jet flight activity was down 4.9% in June; however, Argus Traqpak analysts expect a rebound in July.
While last month’s numbers outstripped expectations of a 3.2% drop, Argus Traqpak estimates a 0.2% increase year-over-year for this month.
Argus SVP Travis Kuhn says, “June was mostly status quo for our activity levels around the globe. North America and Europe are sluggish but remain up from pre-Covid levels, while the remaining regions of the world continue to see yearly growth. We continue to monitor Part 135 activity closely, and now, the Part 91 market after the segment reported a double-digit yearly decline in June.”
Looking at North America, only fractional operators saw year-over-year gains in June.
Total fractional activity was up 12.1%.
Midsize (+14.8%) and Light jets (+11.5%) saw the biggest gains.
Large cabin jets were up 6.2%, with Turboprops 2.2% below 2023.
Part 135 operators saw a 5.3% year-over-year dip.
Large cabin jets saw the biggest drop, down 15.3%.
Light jets (-2.3%) and Midisze jets (-3.0%) performed best.
Turboprop flying was down 4.9%.
Part 91 flying was down 10.2% compared to last year.
Light jets were down the most (-12.7%), followed by Midsize jets (-10.9%), large jets (-9.2%), and Turboprops (-.8.0%).
Looking towards Europe, Argus projects a 5.1% year-over-year decline for July.
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