The private jet market is bouncing back, following a bumper summer
As instability continues in the commercial airline sector, PrivateFly’s quarterly insights (Q3 2017) reflect confidence returning to private aviation, with August volumes in Europe exceeding pre-recession levels for the first time since 2008
PrivateFly is reporting a returning confidence in the market in its latest quarterly insights report, which reflects a bumper summer period for the online private jet booking service – and for the industry overall.
Total flight activity volumes in Europe finally exceeded pre-recession levels in August with 78,785 private jet departures from European airports - 1.3 per cent higher than August 2008*.
Industry figures also show that it is ‘on demand’ charter of private jets driving this growth – 8.4 per cent up on last August - versus owners flying in their own private aircraft, or fractional ownership schemes.
Carol Cork, marketing director and co-founder of PrivateFly comments:
“This summer saw private jet travel soar in Europe. It’s always the peak season for private aviation, with leisure travel boosting year-round business flights. But this year was exceptionally busy. Here at PrivateFly we arranged 48 per cent more flights than last summer, with more-and-more customers attracted to online charter booking, versus traditional ways of booking and flying.
“Charter – on demand hire of a private jet - has become more accessible and better-priced in recent years. Cost-effective light jets are lowering the entry point and new business models are making charter easier and faster to arrange.
“With increasing instability in airline travel, new (and younger) private jet customers are entering the market – around 20 per cent of our customers are flying private for the first time. And those already doing so are flying more. It’s clear that confidence is returning and new business models are making private jet travel easier to arrange than ever before.”
PrivateFly’s report Private Jet Charter Trends (Q3 2017) is based on analysis of thousands of searches and hundreds of private jet flights over the July – September period. The global private charter service sees over 300,000 visitors to its website every month. Other findings include:
- Private jet travellers are getting younger - the average age of the PrivateFly customer was 38 (last year it was 40).
- Average spend was up 17% across all aircraft groups, reflecting greater confidence in the market.
- The average spend on a small jet flight was £10,400. Summer hotspot Ibiza strengthened its popularity, ranking as the no.2 destination after London (Europe's busiest private jet city, year-round).
- Weather conditions were a key factor, with hurricane evacuation flights in the US as well as leisure trips to the sunshine.
Notes to editors:
*Source: WingX Advance.