The cost of flying privately continues to soar, according to the latest data from Private Jet Card Comparisons. In the third quarter, fixed-rate guaranteed availability jet card memberships increased 4 percent, to an average hourly rate of $11,200 across all business aircraft types. That continues the trend of rising jet card costs that began at the first of the year with a 5 percent quarter-over-quarter increase early this year and another 6 percent increase from the first to second quarter.
Yet, the cost of fixed-rate jet cards was lower in the period than on-demand pricing in 10 of 12 different flight scenarios, which is a reversal from the second quarter when on-demand pricing in 10 of 12 scenarios was lower than jet cards. “For flyers looking for the best pricing, what this means is they likely will need to use multiple solutions,” said Private Jet Card Comparisons founder Doug Gollan.
Among aircraft types, jet card hourly rates were within a percentage of second-quarter rates for turboprops and light and midsize jets. But rates for super-midsize jets increased 4 percent, to an average of $12,116 per hour from the second quarter. For ultra-long-haul jets, rates jumped 5.4 percent quarter-over-quarter, to an average of $20,123 per hour.