Private jet flights fell 15% in the first half of the year compared with their peak in 2022, as the industry grapples with waning demand and a new competitive landscape for high-end travel.
Despite a short boost from the Summer Olympics, with a record 713 private jet flights to Paris the last week of July, the private jet industry continues to lose altitude this travel season.
Jet It, a large U.S. private jet operator, shut down last year after grounding its fleet of Phenom 300s, Gulfstream G150s and HondaJets.
Private jet passengers who paid six figures for flights started facing delays and cancellations as operators couldn’t buy or lease planes fast enough.
“Prices are about 20% higher than they were in 2019,” Private Jet Card Comparisons' Gollan said.
Persons:
Washington's, J, David Ake, Robert Frank, Covid, Rob Wiesenthal, George Mattson, VistaJet, Thomas Flohr, Doug Gollan, ”, Jay Duckson, —, ‘, I’m, Gollan, Travis Kuhn, “ It’s, ” Gollan, Berkshire Hathaway, ” Kuhn, “
Organizations:
Gulfstream, Washington's Reagan National Airport, Getty, Private, Summer, Argus International, Blade Air Mobility, Delta Air Lines, CNBC, Industry, Central Business Jets, Companies, Jefferies, Argus, Berkshire
Locations:
Arlington , Virginia, Paris, U.S, Covid, Argus, “