Exclusive: Private jet sector remains ‘robust’ amid air travel slump
The number of flights made on private jets in August was nearly three per cent higher than in the same month last year, new data for City PM has shown.
Analysis from business aviation broker Colibri Aircraft showed that there were 68,525 such flights in August, a 2.8 per cent rise year-on-year, despite the coronavirus crisis.
Meanwhile, in the six weeks from 1 September, the number of private jet flights fell 10.3 per cent to 85,520. This however was far better than the commercial sector, which saw traffic fall over 50 per cent.
Richard Coe, managing director at Wing X, which carried out the analysis with Colibri, said that the recovery had faltered due to leisure demand tailing off after the summer.
Increasing rigid travel restrictions due to a surge in Covid cases have suffocated the commercial air travel market in September, creating a vacuum for smaller private players.
Colibri said that the figures highlighted how the business aviation market is a “rare bright spot in an otherwise gloomy aviation industry”.
It added that the combination of commercial airlines limiting flights and routes due to travel restrictions, and growing concerns about flying with other people, had supported the sector.
Oliver Stone, managing director of Colibri, said: “It is encouraging to see a level of robustness in Europe’s business aviation market.
“Although we expect to see significant peaks and troughs in the number of flights over the next few weeks and months, the sector is in a stronger position than commercial aviation to mount a sustainable recovery.”
Of the top 10 largest European markets for business aviation, Russia, Turkey, Switzerland and Germany are leading the way in terms of robustness.
In August, Russia saw a 25.6 per cent increase in business aircraft departures when compared to the same month last year, and the corresponding figures for Turkey, Switzerland and Germany are 16.8 per cent, 14.1 per cent and 13.1 per cent respectively.
By contrast, the UK lags the rest of the continent, with the number of private jet flights falling 13.1 per cent in August and 27.6 per cent in September.
Stone added that the pandemic had seen an increase in enquiries about purchasing private jets.
“For many business owners and executives, travel is a necessary component to keep their business running”, he said.
“The use of private aviation is now often the only way to continue to travel and keep their companies operational.”