UK-based business aviation services company Dominvs Aviation looks for the charter industry to see a 20 percent increase in the second half of this year, as well as stronger demand for preowned aircraft sales. Dominvs' prediction comes after what it says was a "positive" 2020 driven in part by a recovery in charter activity.
“Constantly changing travel restrictions are making business and first-class passengers turn to private jet charter to ensure more reliable solutions for their business and leisure journeys,” said Dominvs CEO Christopher Mace. “With this forward demand, we are also seeing new aircraft buyers who are looking to ensure they have a guaranteed option for future safe and efficient travel, especially with the vast reduction in airlines scheduled service coverage.”
Dominvs noted that despite a precipitous two-month drop in charter demand early last year due to the Covid pandemic, the sector recovered to 93 percent of normal by year-end. That resulted in £2.9 million ($4.03 million) in charter revenue for the company in 2020.
Last year, its clients typically spent £13,000 per trip on jet charters within Europe, £30,000 per trip on longer business charter flights, £15,000 per trip on leisure flights, and £7,000 per trip on domestic short-haul flights. The most popular destinations it flew to in the summer months of 2020 were Nice and Cannes in the south of France; Palma and Majorca in Spain’s Balearic Islands; Greece; Cyprus; and Egypt. In the winter months, the top destinations for Dominvs clients were Dubai, the Maldives, and the Caribbean.
On the brokerage side of its business, Dominvs said it has closed its first aircraft sale of 2021, with four more jet sales underway, accounting for more than $26 million in transaction value. Dominvs added it also has “a strong pipeline” of sales and purchase inquiries.