The hourly rates for jet charters fluctuate throughout the year. Here are the key factors affecting how much it costs to fly private.
Private jet charters are like any other service in that their price is heavily influenced by consumer demand. This demand is somewhat predictable year over year — those peak travel weeks around holidays and the following off-season lulls. However, special events, global politics, and the price of commodities can all affect demand (and therefore prices).
If you’re considering a private jet charter, but your trip is not beholden to a certain timeframe, you can save by travelling during those lulls. Contact our flight coordinators to learn more about how to take advantage of off-peak pricing.
How Demand Changes Throughout Year
The most expensive time of year to fly private is around the winter holidays. Demand for charter services always peaks in late December and flights may be 15–25% more expensive than the yearly average. Prices in early January are still high at the tail end of the holiday season, but they tend to decrease throughout the month.
February is mostly a lull in demand — other than during two big events. The Super Bowl in football is also the Super Bowl for private jets, so you might avoid vacationing that weekend. Presidents Day weekend is also in high demand. It’s the last big skiing weekend of the year when our airframes routinely fly to Vail, Jackson Hole, and Eagle Point.
One might think that prices would spike in March during Spring Break, but this usually isn’t the case. Paradoxically, prices might even be slightly lower than average. This is a time when private charters are in fierce competition with commercial carriers for a glut of travelers. Charters offer an enticing alternative for groups who would normally not be in the market for a private flight.
April is usually a slow month, and the lull lasts up until Memorial Day, the kickoff to the summer travel season. June, July, and August are always busy, as we field large numbers of requests for transatlantic trips.
This year, the Summer Olympics in Paris disrupted the summer travel season. Some summer holidays extended into late August and early September. With several return flights clustered together in the space of a few weeks, rates were unusually higher for the end of summer.
October is a generally slow month for private charters. U.S. Government agencies start a new fiscal year and are generally tighter with their discretionary spending. The slower demand continued through the uncertainty of this year’s U.S. election cycle.
November also starts out slowly, but a few factors have conspired for a recent uptick in demand. The Federal Reserve has cut its key interest rate by 0.25%. The price of crude oil futures has dropped to around $70 per barrel, continuing a downward trend since peaking in 2022.
Charter Rates Declining in 2024
These yearly fluctuations are set within the greater context of overall charter demand, which has declined in the last two years. “We’ve seen 2024 follow the same trend that was set in 2023,” explains Global Air Charters CEO Michael Vanacore-Netz. “In the charter market, we had this post-COVID dip in demand and charter rates continue to fall across the board.”
After an enormous surge in charter demand in 2020, based on consumers looking for safer travel options, that new demand has largely evaporated. There are also more private jets on charter certificates than there were at the beginning of the pandemic. Prices have tracked downwards based on this increased supply and decreased demand.
Private Jet Charter Rates
Global Air Charters has years of experience tracking the fluctuations of the air travel market. We can help customers anticipate the most advantageous time to fly. Contact our flight coordinators to learn more.
