Average Jet Card Charter Rates Remain Stable in Q3

The average hourly jet card rate paid by charter customers in North America dropped sequentially by 0.1% in the third quarter, according to analysis released by Private Jet Card Comparisons. However, despite the slight shift, the group reported that overall private jet charter costs increased by 1.4% over the same period.

The buyer’s guide to jet cards, fractional ownership, and membership programs tracks over 80 private jet flight providers and more than 500 pricing options. More than 41 updates were included in the latest update to its database.

As of September 30, the average hourly guaranteed jet card rate was $11,257. According to Private Jet Card Comparisons president and CEO Doug Gollan, the slight decrease was recorded despite overall strong demand, which he said was comparable to the post-Covid period in 2021 and 2022. Daily minimum and peak day rates both increased during the third quarter.

For North American jet card offerings with guaranteed prices and availability, hourly occupied rates averaged $11,257 over the three-month period. Excluding turboprop aircraft, the average hourly rate was $11,602, with these prices including base rates, fuel surcharges, and 7.5% federal excise tax.

“While pricing is somewhat stable, there is a lot of discounting activity below the retail pricing we track,” Gollan commented. “Our advice to subscribers after we run their analysis to determine which providers and programs best match their needs is to reach out to the relevant companies as there is generally an opportunity to negotiate flight credits and bonus hours in many cases. Of course, the most important first step is ensuring the rules and policies of the programs match your needs; otherwise, no matter what the price and how much you negotiate, it could be an expensive mistake.”

The platform’s latest market analysis includes average hourly rates broken down by aircraft type as follows: turboprops ($6,418), very light jets ($7,359), light jets ($8,309), midsize jets ($9,671), super-midsize jets ($12,557), large-cabin jets ($15,386), and ultra-long-haul jets ($19,222). Increases in charter rates since 2019 are roughly comparable to overall inflation in the U.S. economy, the company said.

Daily minimum flight time requirements for jet cards also edged up during the third quarter. These climbed by 1.6% from 83.7 minutes to 85.1 minutes.