Short-haul operators in Europe have been seeing almost no growth in passenger numbers and have struggled to reduce capacity to offset lower traffic as the global economic downturn has turned to recession. After a disappointing 2008 that saw load factors fall, European Regions Airline Association (ERA) members now suffer “a considerable worsening” in demand.
Executive Jet Management reported revenue from its charter business rose by more than 35 percent last year over its 2003 figures. The company also experienced a 35-percent increase in the number of charter hours flown. This year’s charter revenue is projected to increase more than 26 percent over last year’s.