Along with an across-the-board tidal wave in private jet travel associated with the pandemic, “jet cards” prospered mightily. Many well-heeled travelers used the high-end debit travel cards to explore private flying for the first time. But just as the tsunami in new and used business jet sales, charter and fractional ownership has begun to recede, jet card purveyors are also faced with pulling in their fangs.
According to Private Jet Card Comparisons, which monitors the industry, hourly rates did rise 21 percent in 2022 compared with 2021. Across all categories of jets (from light to intercontinental “global” models), the average hourly rate has increased to $11,748. But when it comes to light, midsize and super-midsize jets, profit-generating lower daily minimum prices have dipped to “pre-Covid” levels, said the company, reducing the cost of average flights significantly. In other words, the daily minimum for a jet card holder’s flight time was 109.3 minutes in Q2 of 2022, but in Q4 dropped to 94.7 minutes. That reduced the average cost of shorter flights by 9 percent.
If you (or someone you know) is exploring the nuances of private jet travel options, according to Private Jet Card Comparisons, take heed that the average cost for fixed-rate jet cards was lower than on-demand charter pricing on five out of 12 flights. But for the last three months of 2022, “minimum” jet card flights averaged $18,542, while fixed-rate cards roughly matched the low end of the on-demand flight cards at $27,738 and $27,853, respectively.