The 7.5% FET holiday on private jet charters and jet cards is set to expire Dec. 31 and isn’t being extended by Congress in the Consolidated Appropriations Act, 2021
According to an analysis of the 5,593 pages of the House amendment to the Senate amendment of H.R. 133, or the Consolidated Appropriations Act, 2021, there’s good news and bad news.
In November, global private aviation is being hit by lockdowns in Europe and a post-election dip in the United States
Private aviation flights were off 20% year-over-year in the first half of November, according to business aviation tracker WingX. It’s a drop from the minus 15% activity level private flying had settled into since the summer.
NetJets, Wheels Up, and Sentient Jet execs tell attendees at Corporate Jet Investor Americas 2020 they expect the private jet recovery to continue through next year
Wheels Up, with the second-largest for-hire fleet behind NetJets, says flying is already at pre-COVID levels. Jet card leader Sentient Jet recently restored pre-pandemic budget levels
Airline CEOs continue to say it could take until 2024 or beyond to recover from the COVID-19 downturn. In a parallel universe, the heads of private aviation’s biggest players painted a far different picture. Bosses at NetJets, Wheels Up, and Sentient Jet each offered bullish 2021 forecasts. They were all speaking at Corporate Jet Investor Americas 2020.
45% of business aviation executives expect to finish 2020 in a stronger position, compared to just 16% who predict a decline. 92% are very/fairly optimistic about 2021
Major airlines warn that a full recovery may now take into 2024. Business aviation executives say that’s not the case for private jet travel.
A poll of more than 500 attendees at Corporate Jet Investor’s weekly Town Hall meeting showed a confident outlook about the future.