Returning to the Skies: Is the Cost of Private Jet Charters on the Rise?
In March of 2020, the World Health Organization officially declared a pandemic and the world came to an abrupt halt. Aircraft were grounded, shops shut their doors, and would-be travelers flipped through vacation pictures from years past while isolating in their homes. A year later, people all over the world are finally returning to pre-pandemic activities, like travel. Due to this, aviation industry insiders are predicting a rise in the cost of private jet charters.
Over the last few weeks, we’ve fielded quite a few calls from both new and current clients wondering if the charter rates are set to increase this summer.
At Stratos, we pride ourselves on being as transparent as possible so our clients feel empowered to make informed buying decisions for their upcoming travels. To help clients understand what may happen in the next few months, we answered some of those questions here.
What contributes to an increase in the cost of private jet charters?
One of the biggest contributing factors to jet charter rates is aircraft availability. As travelers set their sights on the skies once again, the demand for private jets will increase. When you couple returning traveler demand with the demand from those travelers that are new to the industry, an aircraft shortage will likely ensue.
What else makes jet charter rates soar?
Client education may drive up the cost of private jet charters too, but it’s also in a client’s best interest to study up and take notes. Though newcomers to the private aviation industry are welcome, it can be time-consuming for brokers to walk them through the process of hiring a private jet. It also takes time to explain the various charges associated with flying privately, which is important because some of those charges can catch an unaware first-time flyer by surprise.
Charges for things like in-flight WiFi and deicing add to the overall cost of the charter and can’t always be predicted pre-departure. And if you work with a broker that doesn’t communicate well or isn’t upfront with these types of charges, post-flight travelers may be left with a bigger-than-expected invoice.
What about tax?
The taxes associated with flying privately differ depending on the client’s destination and departure location. In two previous blog articles, we broke down the different types of taxes and how they affect jet charter rates. You can read them here and here.
What can I do to secure a safe, affordable, and reliable private jet?
It’s so important to work with a broker you trust that’s been in the industry for several years and has created strong working relationships with aircraft operators. Stratos CEO and founder Joel Thomas recently provided a little insight into the predicted rate increase to the cost of private jet charters and the importance of finding a great broker.
“When aircraft availability is limited, the value of the broker you hire is directly related to the relationships that broker has with air carriers. Leveraging a broker that possesses strong relationships with the most reputable air carriers is the best assurance of a safe and reliable travel experience.” – Joel Thomas
Stratos provides access to top-rated carriers, luxury aircraft, unlimited flexibility of aircraft choice, and an investment in technological infrastructure and personnel that deliver a consistent and reliable travel experience.
For every flight request, the Stratos team analyzes the market for all available aircraft and recommends air carriers through a select network of top-rated private jet providers who have a long track record of safety and service. This allows clients to book the most appropriate aircraft for every mission at the best available market price.
Ready to Soar Higher with Stratos? Reach out to a personal flight advisor today at (888) 593-9066 or request a quote through our website.