LA-based Exquisite Air Charter has revealed its yearly private jet outlook on the upcoming industry trends for 2023. It finds that while there was record-breaking private charter demand over most of 2022, in the past few months of the year that demand declined, mainly due to the recovery of the commercial aviation industry.
Between 2021 and 2022 the private jet industry welcomed an important influx of first time flyers escaping the inefficiencies of commercial aviation and overall global health concerns. However, that trend reached its peak in mid-2022 in Europe and late 2022 in the US. Usage is still up, year over year, but it is starting to plateau at a level between volumes in 2021 and the highs of 2022.
Furthermore, as the northern hemisphere settles into winter, statistics are showing that many of those new entrants to private jet charter who previously said they planned to continue to travel by private jet charter are now rethinking and reverting back to commercial travel.
“The forecast for next year is that we will remain significantly above pre-COVID usage numbers, but not maintain 2022 numbers, now that commercial flights seem to be stabilising a little more,” says CEO Rena Davenport. “Yet charter customers who were chartering before COVID, especially those who sometimes chartered and sometimes travelled commercially, will remain loyal; fewer will return to commercial flying for any of their flights.”
Exquisite Air Charter also expects that key travel dates such as 4 July and the start of summer will again increase the demand for private charter providers as the challenges of commercial aviation, mainly technical staff and pilot shortages, continue to impact the industry in the foreseeable future.
“Our main challenge as private jet providers with increased demand is securing the availability of aircraft for our customers,” she continues. “With new aircraft expected to hit the market during 2023 as manufacturers speed up their deliveries, we envision being able to accommodate sporadic spikes in domestic and international bookings while delivering an improved all-around service during 2023.”