Private jet card prices have experienced a slight uptick in the second quarter of 2024, with sellers of fixed and capped-rate cards with guaranteed availability adjusting their pricing upwards. However, these sellers are maintaining flexibility for users with features like easier hour usage, fewer peak days, lower daily minimums, and extended lead times for booking flights.
According to a recent study by Private Jet Card Comparisons, a comprehensive guide for private aviation flight program buyers analyzing over 80 jet card and fractional providers and more than 1,000 programs, the average hourly rate increased by 0.8% from the first quarter of 2024, following a 1% increase in the previous quarter.
Doug Gollan, President and Editor-in-Chief of Private Jet Card Comparisons, describes the situation as a positive development amidst challenging circumstances. Following a decline from their peak in 2022, jet card prices have stabilized and are now inching back up.
As of the end of the second quarter of 2024, the average hourly jet card price stands at $10,953. This figure represents a 6.8% decrease compared to the fourth quarter of 2022, but it remains 30.3% higher than the fourth quarter of 2020, when the CARES Act eliminated the 7.5% Federal Excise Tax.
Furthermore, jet card rates are currently 23.6% higher than they were in the fourth quarter of 2019, before the Covid-19 pandemic. Notably, the hourly rate for Ultra-Long-Haul jets has increased by only 12.2% compared to the fourth quarter of 2019, indicating a more modest rise in this specific segment.
