The cost of flying privately continued to increase during the second quarter of 2022; however, demand remains strong, according to the latest research by private aviation buyer's guide Private Jet Card Comparisons.
The average hourly cost of fixed/capped rate jet cards with guaranteed availability increased six per cent during Q2 after a five per cent jump in Q1. Since December 2020, hourly jet card prices have been 28 per cent higher and now average $10,770.
At the same time, private flyers expect to fly privately 39.7 hours in the next 12 months, in line with the trailing 12 month average of 41.7 hours. That translates to an average spend of $427,569 per subscriber. The number of subscribers who expect to need 75 hours or more of private jet access in the coming year remained virtually flat at 10.7 per cent, compared to 10.3 per cent in Q1 2022.
“Prices keep going up, but so far that hasn't impacted future demand,” says Private Jet Card Comparisons founder and editor-in-chief Doug Gollan. “Subscribers, particularly those travelling on business or who have firm plans where they are going, continue to tell us that despite the increased costs of private air travel, poor and undependable airline service, plus reduced flights to secondary cities, means they will continue to fly privately."
Overall, the average hourly rate for fixed/capped rate jet card programmes is now $10,770. Taking out turboprops, the jet rate is $10,955 per hour.
Jet card pricing in June 2022
- Turboprops average $6,649 per hour, up 1% from Q1 and 49% from December 2020
- Very light jets average $7,747 per hour, up 15% from Q1 and 52% from December 2020
- Light jets average $8,050 per hour, up 6% from Q1 and 44% from December 2020
- Midsize jets average $9,323 per hour, up 8% from Q1 and 34% from December 2020
- Super midsize jets average $11,649 per hour, up 4% from Q1 and 27% from December 2020
- Large cabin jets average $15,449 per hour, up 9% from Q1 and 28% from December 2020
- Ultra-long-haul jets average $19,096 per hour, up 7% from Q1 and 25% from December 2020
Jet card prices reflect occupied hours, the time from take off to landing. Repositioning fees are built into the hourly rates for flights within the primary service area.