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2024 started with an increase in global business aviation after the holiday period, but performance in the first week of the year was down compared to the same period in 2023, according to WingX’s weekly Global Market Tracker report.
Business jet passenger numbers increased by 9% from the last week of 2023 to the first week of 2024, but the latest result was a 3% decline compared to the same period last year. Turboprop traffic in the first week was down slightly from last year, at about 0.1%. Combined Part 135 and Part 91 business was down 2% from a year ago. Meanwhile, scheduled air traffic increased by 12% from the first week of 2023, while cargo traffic decreased by 9%.
“Global business aviation activity entered the new year slightly later than comparable 2023, which itself was a rebound from the January 2022 lockdown. “It appears to have been relatively weak over the holiday period,” said Richard Coe, managing director of the company. Wing X. “In Europe, the UK and French markets rebounded strongly last year, but this was offset overall by strong activity in Turkey and Spain.”
In North America, business jet passenger numbers were up 7% compared to the final week of 2023, but down 5% year over year. Over the past four weeks, business jet operations have been trending 3% lower than they were a year ago. Wing
Looking at the US business jet market, we see a clear spike in demand on January 2nd due to travelers returning from their vacation destinations. Traffic at the top airports reflects this significant increase, with second-place Palm Beach, Fla. (KPBI) handling just seven fewer flights than No. 1 Teterboro, Jersey (KTEB). Miami-Opa Locka (KOPF) and Naples (KPAF) in Florida and Van Nuys (KVNY) in California round out the top five business jet airports in the United States.
WingX said Florida is “undoubtedly the busiest state for U.S. business jets so far this month,” and New York is the top destination for travelers flying from Florida airports. Ta. The Embraer Phenom 300 logged the most flights from Florida airports, and the Challenger 300 and 350 series flew the most hours.
In Europe, business jet activity increased by 3% year over year. France became the top market with more than 1,000 business jet operations in the first week of 2024, but activity was 3% lower than a year earlier. Business jet activity in Spain increased by 26 percent, while second-place UK activity fell by 6 percent year-on-year.
In Asia, business jet operations decreased by 2% compared to the previous year, but in the Middle East they increased by 2% compared to the previous year. The United Arab Emirates, Saudi Arabia and Qatar saw strong demand for business jets at the start of the year, with traffic up from a year ago, but activity in Israel was down 32% in the first quarter from a year earlier. .
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