MIAMI, FLORIDA, UNITED STATES - 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 6% during Q2 after a 5% jump in Q1.
Since December 2020, hourly jet card prices have been 28% 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%, compared to 10.3% in Q1 2022.
“Prices keep going up, but so far, that hasn’t impacted future demand,” said Doug Gollan, Founder, and Editor-in-Chief of Private Jet Card Comparisons. “Subscribers, particularly those traveling 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 programs is now $10,770. Taking out turboprops, the jet rate is $10,955 per hour.
Jet Card Pricing – June 2022
- Turboprops average $6,649 per hour, up 1% from Q1 and 49% from Dec. 2020
- Very Light Jets average $7,747 per hour, up 15% from Q1 and 52% from Dec. 2020
- Light Jets average $8,050 per hour, up 6% from Q1 and 44% from Dec. 2020
- Midsize Jets average $9,323 per hour, up 8% from Q1 and 34% from Dec. 2020
- Super Midsize Jets average $11,649 per hour, up 4% from Q1 and 27% from Dec. 2020
- Large Cabin Jets average $15,449 per hour, up 9% from Q1 and 28% from Dec. 2020
- Ultra-Long-Haul Jets average $19,096 per hour, up 7% from Q1 and 25% from Dec. 2020
Jet card prices reflect occupied hours, the time from takeoff to landing. Repositioning fees are built into the hourly rates for flights within the primary service area. Prices in the research include base rate, fuel surcharges and 7.5% Federal Excise Tax.