The super-rich prove aren’t so different from the rest of us. Just as commercial airlines are sounding warnings about softening demand, CNBC (CMCSA) reports that recently hot private jet travel is also cooling off.
Citing data from the aviation analytics firm Argus International, the outlet says that there were 610,000 private jet charters in the first six months of 2024, down from 645,000 for the same period in 2023, and 716,000 in 2022.
This comes despite a host of big private plane draws, like the Paris Olympics — the aviation website Simple Flying reported earlier this week that the games spurred a record number of business jet arrivals — and the entrance of players such as pet-jet service Bark Air. The trend continues a slowdown that has been a couple years in the making.
In its corporate private jet business review last year, Argus said that the industry had leveled out a hurly-burly period following the outbreak of the COVID-19 pandemic
“We’ve leveled out from the lows of the pandemic and the highs of the post-Covid travel boom,” the company noted.