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Even with warming temperatures, business jet flights keep cooling

Release time:2023-07-16 11:45:11 Click on the quantity:

Despite the number of business aircraft flights in North America falling at a sharper clip in June than analysts had forecast a month ago, analysts with ARGUS TRAQPak said in its latest report that flight activity remains “at a familiar pace.”

Global business aviation flights decreased by 1.8% compared to the same period last year, according to the latest data from ARGUS. Monthly activity also saw a marginal decline of 0.2% from May 2023.

The North American market experienced a 2.7% decrease in flight activity compared to June 2022, down 2.4% from May 2023. Meanwhile, the European market displayed signs of stabilization, with a decrease of 6.1% from June 2022, representing an improvement from the 8.3% decline recorded in May.

In its May report, ARGUS had forecast a 0.7% decrease in North American flight activity year over year for June and a 9.9% drop for Europe.

“The summer flying season has started and activity remained status quo in June," said Travis Kuhn, ARGUS senior vice president of market intelligence. "On the negative side, we continue to monitor the declines in Part 135 activity and we did revise our H2 2023 forecast slightly lower to account for those declines. On the positive, while activity is down in Europe it has stabilized in recent months and they are following their normal summer trend on the continent.”

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The report also revealed mixed results across operational categories, with fractional activity being the only segment to witness a yearly increase, rising by 4.5% from June 2022. The Part 91 market reported gains in smaller cabin activity but overall losses due to a decline in the high-end segment, resulting in a 0.5% decrease. Part 135 activity experienced an 8.0% decrease year over year.

Among different aircraft categories, large cabin jets recorded the only monthly increase, rising by 1.4%. Turboprops and small cabin jets experienced yearly declines of 2.7% and 2.5%, respectively. Mid-size cabin jets finished down by 4.6% compared to June 2022. All four fractional segments showed gains. The fractional large cabin market experienced the largest increase, rising by 16.5% compared to the previous year.

Regional analysis of FAA activity showed that all the Northern regions experienced an uptick in flight activity due to favorable summer weather, with the Pacific Northwest leading with a significant monthly increase of 19.1%. The Southern region reported the largest decrease, down by 15.6%. The overall 2.4% decline in North America was primarily influenced by reduced activity in the southern areas, as the three largest activity regions all reported monthly decreases. Meanwhile, there was a 7.5% rise in Canadian activity.

Despite a year-over-year decline of 6.1%, European flight activity showed a two-point improvement compared to May's 8.3% decline.

Looking ahead, TRAQPak analysts estimate a 2.7% decrease in overall North American flight activity in July 2023 compared to last year. Additionally, European activity is projected to decrease by 4.0% year over year.