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Private Jet Flyers Are Bullish On Their Financial Outlook, Journey, and Flying Privately

New analysis from Private Jet Card Comparisons reveals 73.3% of personal aviation customers are extraordinarily/very assured about their private monetary outlook

MIAMI, FL, UNITED STATES, August 10, 2023/ — New analysis from Private Jet Card Comparisons gives excellent news for personal aviation, the higher journey business, high-end eating places, wine & spirits manufacturers, yacht brokers and actual property brokers, organizers of sporting occasions and out of doors actions, auto sellers, and even watch and jewellery sellers.

The outcomes are based mostly on over 300 responses from paid subscribers to Private Jet Card Comparisons, a purchaser’s information, which compares greater than 80 fractional, jet card, membership, and jet-sharing suppliers by 65 + variables.

The analysis discovered non-public jet flyers are optimistic about their private monetary outlook.

Serving to non-public jet suppliers, respondents mentioned deteriorating airline service is main them to extend their use of personal aviation.

What’s extra, there was minimal attrition of these customers who began flying privately after the beginning of the Covid-19 pandemic in 2020.

“This is superb information, not just for the non-public aviation suppliers, who’re coping with elevated prices, labor, and provide chain points however particularly for associated industries that profit from the spending of personal flyers into the financial system, ” mentioned Doug Gollan, Founder and Editor-in-Chief of Private Jet Card Comparisons.

He continued, “Supporting the optimism, respondents are very bullish about their very own monetary outlook over the approaching two years.”

Financial Outlook

With the present world state of affairs, how do you’re feeling about your private monetary outlook over the following 12-to-24 months?

– (Extraordinarily/Very Assured) – 73.3%

– Extraordinarily Assured – 36.1%

– Very Assured – 37.2%

– Considerably Assured – 24.1%

– Not so Assured – 1.9%

– Under no circumstances Assured – 0.8%

Impression of Airline Service on Private Flying

How have airline and airport delays and cancelations impacted your use of personal aviation?

– I’m or will fly privately extra due to what’s occurring with the airways – 54.3%

– It hasn’t impacted my use of personal aviation – 45.7%

One respondent famous, “I’d have flown industrial airways extra typically if it weren’t such a catastrophe.”

One other added, “Simply had two missed connections on a visit final two weeks due tight connections and delayed first leg. Each flights aircraft was nonetheless on the gate however closed. Very irritating in that it brought on us to remain in a single day in hub cities to catch one other flight the following morning. Actually a serious ache.”

Sticking With It –

The web affect of confidence of their private monetary outlook and poor airline companies look like fueling the sturdy urge for food for personal flights.

Private flyers, who began flying privately after the beginning of the Covid-19 pandemic, are sticking with it.

Three years after the Covid outbreak spurred document demand for personal jet flight suppliers, 93.2% of these new flyers say they’re nonetheless flying privately.

What’s extra, the share of those flyers who say they plan to proceed to fly privately regularly elevated from 39.9% final 12 months to 50.7% in 2023.

How do you anticipate your non-public flying to alter within the subsequent 12 months? 

I began/re-started non-public aviation throughout or after the COVID pandemic and proceed to fly privately often – 50.7%

I began/re-started non-public aviation throughout or after the COVID pandemic and now fly privately infrequently – 42.5%

I began/re-started non-public aviation throughout or after the COVID pandemic, however have now stopped or plan to cease non-public flying – 6.8%

At first of the pandemic, analysis from McKinsey confirmed solely about 10% of UHNWs who might afford to fly privately had been doing so.

Powered by new flyers, non-public aviation noticed document utilization in 2021 and 2022.

“Lots of people believed new flyers would cease flying privately post-pandemic. Up to now, that’s not occurring in any massive numbers,” Gollan mentioned.

Pre-Covid Private Flyers

Of respondents who had been flying privately earlier than Covid, 51.1% mentioned their non-public flying is much like earlier than the pandemic, with 36.6% saying they’re flying privately greater than earlier than Covid, up from 28.8% final 12 months. Solely 12.2% of pre-Covid customers say they’re flying much less.

“I proceed to listen to from subscribers who speak in regards to the effectivity of flying privately, notably between spoke cities, avoiding connections and those that can entry extra handy airports. Private jets use over 5,000 airports within the U.S., in comparison with lower than 500 with scheduled airline flights,” Gollan famous.

Life-style Pursuits

There may be additionally excellent news for different industries that profit from spending by non-public aviation flyers.

Relating to their passions, touring for pleasure topped the checklist, as famous by 88.7% of respondents. Positive Eating (44.5%), Sports activities and the Outside (38.7%), Yachts and Boats (37.1%), Wines and Spirits (37.1%), Actual Property (36.3%), Well being & Wellness (34.8%), Luxurious Cars (30.1%), Arts & Tradition (23.8%), and Watches and Jewellery (23.1%) had been cited as being of curiosity by a major variety of these surveyed.

“Private jet customers spend on common over $80,000 after they go to a vacation spot, not together with airport companies, so that they drive some huge cash into native economies, and that’s excellent news for the companies within the locations they’re going,” Gollan mentioned.

In regards to the Survey

Outcomes are based mostly on over 300 accomplished surveys returned between July 21 and July 30, 2023.

79% of respondents use jet playing cards (spending a mean of $275,000), 44% constitution trip-by-trip, 20% have fractional possession, 12% personal their non-public plane and 3% fly on firm jets. Moreover, 9% use jet sharing and by-the-seat suppliers, whereas 20% say they share informally through rides on associates’ non-public jets.

The survey is a part of the 200-page 2023/24 JET CARD REPORT by Private Jet Card Comparisons, revealed yearly in November.

This 12 months’s version contains new questions on how sustainability packages think about supplier alternative, considerations in regards to the monetary stability of suppliers, flexibility to maneuver departure to keep away from charges or get monetary savings, and way of life pursuits.

Analysis: THE JET CARD REPORT by Private Jet Card Comparisons

About Private Jet Card Comparisons

Private Jet Card Comparisons is a shopper purchaser’s information subscription service to personal aviation packages, from on-demand constitution and jet sharing to jet playing cards, memberships, and fractional possession. Its database contains over 900 program choices from greater than 80 suppliers and greater than 40,000 information factors up to date often – 105 instances to this point in 2023.

Subscribers evaluate packages by over 65 variables in minutes, saving weeks and hours of analysis. A subscription is $250 yearly, and paid subscribers can request a customized evaluation to determine the options and packages that greatest match their flying wants.

Doug Gollan
Private Jet Card Comparisons
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