Charter aircraft hourly rates in the second quarter fell 3% quarter-over-quarter but were still up 2% from a year ago, according to the latest activity report from private charter marketplace JetASAP. Data for the report was collected from more than 20,000 direct charter operator quotes in the U.S. and Canada.
Average hourly charter rates in June for turboprops showed the smallest erosion in the quarter, down 1% to $4,370. The super-midsize jet class followed with a 2% decrease, with average rates of $9,744 per flight hour.
Rates for light and midsize jets both slid by 3% to $7,022 and $8,196, respectively, per occupied flight hour. Meanwhile, the heavy jet category plunged 20%, with prices falling to $11,608 per flight hour.
"For the second quarter, data showed that 75 percent of quotes that came through the app were on light and midsize jets as 70 percent of all the trip requests are at or below 3.5 hours of flight time. In addition, the passenger count on these trips is between one and four people. The combined flight time with passenger count makes these trips the perfect mission for both light and midsize jets and more cost-effective for flyers," explained JetASAP founder and CEO Lisa Sayer.