Story ID: 
JetASAP Releases January 2024 Activity Report
By: Sarah Rose
Caption: Company reported an average decline of 10 percent
Word Count: 212
Air charter broker JetASAP's activity report for January 2024 shows a decrease in charter rates in the New Year. Its customers can book private aircraft charter flights via the JetASAP app.
The company reported an overall average per-flight-hour charter rate decline of 10 percent. Turboprops decreased 10 percent to average $4,386 per flight hour, while light jet rates fell 14 percent to $6,741 per flight hour. Midsize jet hourly rates dipped 5 percent to $8,502 per hour, while super-midsize jets decreased 13 percent to $10,734 per flight hour. Heavy jets fell 9 percent to $13,765 per flight hour.
"These decreased charter rates are typical as the aviation market adjusts coming out of holiday travel. Another adjustment JetASAP has experienced is the significant increase in participation from larger charter operators with 15 or more aircraft in their fleet," said company founder and CEO Lisa Sayer.
"The charter industry runs on smaller operators as 90 percent of them that participate in JetASAP operate 14 or less aircraft and 60 percent have less than four they use for charter. Most quotes coming through the app to our members were from the smaller operators until January."
Sayer added that the company's clients appear to be slowing down their demand for charter flights and the market is thus softening.