Private jet passengers boarding business jet
Private jet passengers boarding business jet

Costs Soaring for Jet Cards

A study finds that the average one-way hourly flight rate has increased more than 20 percent since 2020.

Hourly costs for fixed/capped-rate charter jet cards have climbed 21 percent since the fourth quarter of 2020 and increases are expected to continue. Rates jumped 5 percent since the end of 2021, according to Private Jet Card Comparisons, which analyzed 250 jet card programs that offer fixed or capped hourly rates.

“Dozens of fixed/capped rate programs, which before COVID typically raised rates by $100 per year if at all, have increased prices multiple times since last summer,” said company founder Doug Gollan. “The average jet card charter price increased by $1,799 per hour since the end of 2020.”

These rates are lagging dynamic pricing, which reflects the current market, Gollan noted, which means more increases are likely. “It’s a perfect storm of record demand, supply constraints, and rising costs, including pilot salaries, general payroll, fuel, incentives to aircraft owners, maintenance, and parts.”

The company found that the average one-way hourly jet card charter rate has increased to $10,204, compared with $8,405 at the end of 2020. The average trip price for a fixed/capped-rate jet card was $25,744. However, on-demand charter costs that are based on dynamic pricing ranged between $24,894 and $41,654 per flight.

Hourly rates for fixed/capped-rate jet cards are up 35 percent for light jets, to $7,564; 24 percent for midsize jets, to $8,662; 22 percent for super-midsize jets, to $11,171; 17 percent for large-cabin jets, to $14,173; and 16 percent for ultra-long-haul jets, to $17,767. Turboprop pricing also is up, by 47 percent, to $6,564 per hour.