Story ID: 
Private Jet Card Pricing Down but Stabilizing
By: Kerry Lynch
Caption: Jet card prices are down 6.3 percent from the end of 2022
Word Count: 385
Private jet card and membership prices remained flat in the third quarter, up a mere 0.3 percent from the second quarter at an average hourly rate of $11,055, according to Private Jet Card Comparisons (PJCC) research. That increase narrowed further to 0.1 percent at $11,339 per hour when turboprops are excluded, PJCC noted. PJCC estimates are based on its database of more than 80 providers and 900 programs and count rates for occupied hours, including repositioning costs.
"While [air charter] demand is off its peak of 2021/22, and more providers have jumped back into the market after stopping their jet card and membership programs, published prices are holding steady," said PJCC founder and editor-in-chief Doug Gollan. He added that prices fell 5.2 percent in the first quarter and 1.3 percent in the second quarter before inching into the positive side at 0.3 percent.
Prices are down by 6.3 percent from December across all categories, but they are still 24 percent more than in December 2020. They are also up by 19.9 percent over the fourth quarter of 2019, PJCC noted, adding that this is in line with inflation.
In the current market, buyers are able to negotiate discounts, PJCC said, noting that this was the case with 65.5 percent of jet cards. That marks a 30 percent year-over-year increase, with free hours and flight credits the most frequently offered perks.
By category, ultra-long-haul private jet cards averaged $19,195 per hour at the end of the third quarter, down 7.6 percent from the end of 2022 but up 0.2 percent from the end of June. Large cabin rates were down 2.5 percent from the end of last year (to $15,717 per hour) but were up from the second quarter by 0.2 percent.
Super-midsize jet cards averaged $12,102 per hour, down 4.7 percent from their high in December 2022 but up 0.5 percent from the second quarter. Midsize jet hourly rates were down by 4.9 percent over the fourth quarter of 2022 and 0.1 percent from the second quarter to $9,351.
Light jet hourly prices similarly dipped by 4.6 percent from December 2020 but were up by 0.5 percent sequentially to $8,093 per hour. And very light jets came in at an average of $7,421 per hour, sliding 12.9 percent from the fourth quarter of 2022 but flat sequentially by quarter. Meanwhile, turboprop rates are 14.3 percent below the fourth-quarter 2022 peak but still a half a point up from the second quarter at $6,428.