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Tue, Apr 04, 2023

Business Aviation Boom Dying Down?

Analyst sees "Widening Declines in Bizjet Flight Activity"

WingX published a notice that may portend the end of the high-tide of business aviation experienced after the pandemic, seeing continuous drops in bizjet flights throughout the world.

The industry received a record shot in the arm with the onset of pandemic restrictions and irritating travel requirements from 2020 onward, when well-heeled clientele began to look away from air carriers in favor of charters and private flight. Now, however, the record player may be winding down.

The phenomenon appears to be fairly consistent across different regions, too, with similar drops in international traffic, European charters, and sun-soaked vacation locales throughout the US. Global Part 135 and 91K activity was 14% below the same dates last year, with a 2% drop from January first overall. Still, the energetic frenzy of business aviation in recent years has built up a comfortable buffer - while overall YTD activity sits at 2% lower than the same period in 2022, it's still 12% greater than 2019. How far the industry will backslide while retaining ground gained since 2020 remains to be seen. Rising costs, an uncertain economic outlook, and more all conspire to make predictions iffy at best.

In their summary of findings, WingX described a constant slide. "Since week 4 of this year we have seen widening declines in bizjet flight activity compared to same weeks last year, with double digit declines in charter activity in each week since week 7, with this week 11 seeing 16% year on year dip in the US, 22% decline in Florida, 10% drop in charters in Europe. The recovery in longer international sectors is also running out of steam, transatlantic traffic falling 1% behind record levels in February 2023."

FMI: www.wingx-advance.com

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