Bizjet Charter Demand Continues Recovery Trend
Forecast demand for executive and private charter flight was somewhat softer at the start of August than 30 days earlier, perhaps reflecting a reduction in business travel at the height of the core European vacation season. But at 105.13 the August 1 demand index from online charter portal Avinode was still almost 32 points up year-over-year, demonstrating a continuing recovery trend. On July 1, the demand index had been almost 55 points higher at 159.82. The latest Avinode data also shows that charter prices have been holding up. The August 1 price index of 96.10 was just over a point higher than it had been on July 1 and more than two points higher than on Aug. 1, 2009. Over the past month, average flight hour rates have been rising by between 3 and 4 percent. In North America, the August 1 rate for a Cessna Citation Excel increased to €2,463 ($3,264), while the rates for a Hawker 800 crept up to €2,561 ($3,393) and for a Challenger 604 to €3,820 ($5,061). The pattern in international markets tracked by Avinode was similar, with the average rate for the Excel rising to €2,721 ($3,605) and those for the Hawker 800 and Challenger 604 respectively reaching €3,245 ($4,230) and €4,779 ($6,332).