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The rise of light and midsize private jet aircraft

Monarch Air Group, a Fort Lauderdale, Florida-based private jet charter provider is sharing data from its online marketplace revealing how shorter domestic flights have increased the demand for lighter private aircraft.The pandemic has established a pattern of changes worldwide in the travel industry. Private aviation, despite a strong rebound since early 2021, has been also hit by the pandemic. Not to the extent of commercial aviation, executive travel registered an important decrease in international flights, thus enhancing a shift in the private jet consumer behavior regarding their aircraft selection.Short haul traffic diversificationWith fewer international flights, the domestic market has soared with short to mid-range private jet operations. With the US market surpassing pre-Covid levels, leading private jet providers like Monarch Air Group have not only witnessed an increase in local operations, but also in the booking of light and midsize jets as a result of shorter flights.Based in Fort Lauderdale, the company breaks the mold compared to other US private jet providers regarding the destination of their booked flights. As South Florida is so close to the Caribbean, figures by Monarch Air Group positions the Bahamas as their top Caribbean route from the United States, followed by Turks and Caicos Islands, U.S. Virgin Islands, Cayman Islands and the Dominican Republic. These routes only support the fact of the rise of bookings for light and midsize private jet aircraft.Light and midsize jets soarFurthermore, data from the company's online charter quoting system, specifically from first-time clients that used the system (without accounting for call ins and/or referrals), show that light and midsize jets have been heavily favored when compared to other aircraft. Since early 2021, 55% of chartered private jets have been light or midsized, compared to only 14% of super midsize and heavy aircraft. Whereas larger VIP airliners only represent 4% of the chartered pool.The figures support the rise in domestic private air travel in the US market, where lighter jets are leading operations in shorter routes. In the same line, Monarch Air Group's data positions propeller aircraft as the second option for first-time clients, accounting for a respectable 27% of all charter bookings.Florida private jet activityThis information is aligned with the latest WINGX weekly Business Aviation Bulletin, which reports an increase of 26% for light jet activity in July when compared to the same month of 2019. The report also highlights Florida as the busiest US state, up 55% compared to July of 2019. This puts Monarch Air Group in a prime position to take advantage of the increased demand in the region for domestic flights and short haul international bookings to the Caribbean.What's next? With vaccination drives trending upwards at a global scale, which automatically intensifies the demand for leisure flights, paired with the need for face-to-face business meetings, it is expected that international flights will regain shape, thus also increasing the use of larger private jet aircraft for transatlantic flights. Although in the foreseeable future private jet activity should continue riding the new favorite of the segment, the light private jet, which is showcasing its unique traits: comfort at a very competitive cost.
Created 342 days ago
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