With the well documented issues in commercial flying more and more people have found reasons to turn to private aircraft.
There are a variety of options to consider. The starting point is how often you want to fly privately.
Once you reach about 50 hours of flying a year then fractional aircraft ownership can start to make sense and above 300 or so hours per year whole ownership is worth looking into. Here is some core information to help you understand the options.
All of the major providers have expanded over the last few years. Many now offer a wide range of products and solutions to meet the needs of various clients. If you're looking at the different options and would like a good general overview then download our free Guide to Private Aviation, which includes details on charter, jet cards and fractional ownership. For detailed side by side comparisons of the leading jet card and fractional providers, and a directory of charter operators, then sign up for membership.
The latest news and research on private jets and aircraft is included below.
As a second year affected by the COVID pandemic draws to a close, we have seen demand for private aviation services reaching new highs. At the same time, supply chain issues are causing problems in some areas. We look at private aviation industry forecasts for the coming ten years to see what lies ahead. Included are insights from manufacturer Honeywell and analysts at JETNET iQ. Also included is information from Jetcraft’s five year forecast for the pre-owned business aviation market.
For 20 years, Tradewind Aviation has been providing private air charter services in the northeastern US, the Caribbean, and further afield. Recently they earned fifth place in the coveted Conde Nast Reader’s Choice Awards for best airline in the United States, a first for any private aviation company. The SherpaReport spoke to founders Eric and David Zipkin recently to learn more about the company.
Private aviation company Air Partner has a new mobile app for members of its JetCard program. It is also increasing the notice period to request aircraft, is increasing the hourly rates on smaller jets and saying that for certain days over the end of year holidays in 2021 only charter rates will be available. These latter changes all reflect the unprecedented market demand for private aircraft this year.
Aircraft manufacturer Embraer and private aviation company NetJets have just signed a deal for up to 100 additional Phenom 300 light jets, with a value in excess of $1.2 billion. The Phenom 300 is one of the most popular aircraft in the NetJets fleet.
In the first half of 2021, VistaJet sold over 8,000 new annual subscription hours, an increase of 67% on 2020 figures and a 41% rise over 2019 levels. XO Deposit Members were up 82%, with three times as many sales in the period compared with 2020.
The Vista Global Group’s on demand services also performed strongly during the period, with a year-on-year growth of 67% across all markets, and 55% up on 2019.
Private aviation company Wheels Up (NYSE:UP) reported its first set of results as a public company, following on from its SPAC listing. The second quarter revenue increased 113% year-over-year to $285.6 million, live flight legs increased 146% year-over-year to 18,234 and active members grew to 10,515 representing 47% year-over-year growth.
As of today, NetJets says “all requests for the NetJets Card Program will be placed on a waitlist.” This temporary pause for all jet cards extends the announcement from only a few weeks ago, of a pause on just the light cabin Citation XLS and Phenom 300.
Citing record contract utilization by existing fractional owners, NetJets says flight demand is currently exceeding all other highs in their 57-year history. Simultaneously it has “exhausted the production capacity of some OEM partners.” As a result, it is temporarily pausing sales of new fractional shares, leases and jet cards on the light cabin Citation XLS and Phenom 300, which are the smallest planes in its fleet.
In March this year, SherpaReport looked at how the market for new business jets showed signs of a strong recovery, from a pandemic induced fall in 2020. In this article, we follow up by exploring the current, booming state of the market for pre-owned business jets.