Private Jet Demand At Record Levels For 2023

One takeaway from the pandemic is people look at being in large crowds differently. Places like airports, train stations and large indoor events are now seen as where someone could get sick. Add to that, the long waits at airports, cancelled flights and high prices are changing how people view private jet travel. It’s no surprise that private jet demand at record levels for 2023. In fact, that demand is above pre-Covid levels.

There are many ways to travel privately without owning a multi-million dollar aircraft. Companies like NetJets have pioneered the fractional ownership concept. Many charter companies offer membership cards with prepaid hours. And finally, flying empty legs has proven to be the least expensive way to fly privately without any commitments.

The typical price per hour to fly on an executive light jet can be as low as $1,200 per hour.

When you consider regional travel this becomes very cost effective when traveling in a group.

Now consider this as an empty leg which generally is 50% of the rate which could be as little $600. If we take a flight from Tallahassee to Key West (under 90 minutes with take-off and landing), that’s as little as $900. Compare that at today’s commercial rates at an average of $250 per person for the same flight. With 6 people, you’re at $1,500 on a crowded commercial airline. Not to mention TSA, baggage and waiting.

As these empty legs consolidate with more collaboration, this will bring the cost down even further. The days of making customers pay the full round trip may become a thing of the past. The good news is that volume will improve profitability. Flights may be booked as one way rather than round trip or repositioned.

There is little question that private jet demand at record levels for 2023 and beyond.

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