JetASAP Releases January 2024 Activity Report of Hourly Cost for On-demand Aircraft Charter

News provided by

Feb 13, 2024, 08:41 ET

Hourly rates decrease an overall average of 10%

BOCA RATON, Fla., Feb. 13, 2024 /PRNewswire/ -- JetASAP, the only live private charter marketplace connecting flyers directly to aircraft operators to book their charter flights, today announces their latest charter activity report. January 2024 shows the industry's annual cycle of decreasing charter rates in the New Year with an average decline of 10% overall. Turbo props decreased 10% to $4,386, while the light jet category experienced the largest drop of 14% to $6,741 per average billable flight hour. Mid jets saw the smallest dip of 5% to $8,502 per hour. The super mid category decreased 13% to $10,734 per hour and lastly heavy jets fell 9% to $13,765 per billable flight hour.

"These decreased charter rates are typical as the aviation market adjusts coming out of holiday travel. Another adjustment JetASAP has experienced is the significant increase in participation from larger charter operators with fifteen or more aircraft in their fleet. The charter industry runs on smaller operators as 90% of them that participate in JetASAP operate fourteen or less aircraft and 60% have less than four they utilize for charter. Most quotes coming through the app to our members were from the smaller operators until January," explained Lisa Sayer, CEO and founder. "This group of larger aircraft operators that are now quoting and booking with our members shows us their clients are slowing down their demand for charter, their schedules are freeing up and the market is softening."

Hourly Rates* for January 2024 of 2,404 Quotes through the JetASAP App

CATEGORY	LOW	HIGH	AVERAGE
Turbo Props	$2,688	$6,072	$4,386
Light Jets	$4,375	$9,345	$6,741
Mid Jets	$6,250	$11,398	$8,502
Super Mid Jets	$7,192	$15,966	$10,734
Heavy Jets	$9,261	$19,610	$13,765

Source: JetASAP hourly rates are based on direct quotes from charter operators' flight charges received through the JetASAP platform. All hourly rates are based on actual occupied passenger flight hours from takeoff to landing, are "All-In" and include federal excise tax (FET), fuel surcharges, as well as daily minimums, if applicable.

*Statistics include a 10% standard deviation to account for data anomalies.

Real-time All-In quotes received by flyers through JetASAP in January:

New York to Miami
Citation I (Light Jet) $12,000
Hawker 800XP (Mid Jet) $18,800
Falcon 50 (Super Mid Jet) $21,500

New York to Los Angeles
Citation Latitude (Super Mid Jet) $36,575
Gulfstream G550 (Heavy Jet) $50,550

Jackson, WY to Ft. Lauderdale
Nextant 400XTi (Light Jet) $26,000
Challenger 300 (Super Mid Jet) $32,780

Palm Springs to Chicago
Learjet 60 (Mid Jet) $24,000
Citation Sovereign+ (Super Mid Jet) $31,344

Columbus,OH to Naples
Citation Ultra (Light Jet) $16,912
Hawker 400XP (Light Jet) $17,750

Los Angeles to Aspen
Citation CJ3 (Light Jet) $8,640
Citation X (Super Mid Jet) $15,812

To learn more, please visit JetASAP.com or download the app from the App Store.

About JetASAP

JetASAP offers an on-demand charter option via an app which allows members to book their charter flights directly with aircraft operators without any prepaid jet card memberships or high buy-in costs. The app provides features that include: the ability to submit quote requests to over 700 charter operators and receive live bookable quotes; the JetRATE cost estimate tool; partner services at discounted rates including aircraft mechanical coverage and support; access to 3,000+ daily empty leg and discounted one-way flights; and TripMATCH, where members automatically receive targeted emails for empty legs. The empty leg list is previously unpublished and exclusive to JetASAP.

Media contact:
Claire Kunzman
[email protected]
407-227-8867

SOURCE JetASAP