view of engine on business jet
(Photo: Mark Wagner)

Heavy, Super-midsize Bizjets Lead Air Charter Rate Increase

Prices recently climbed for larger jets but moved lower for smaller jets and turboprops.

Hourly, on-demand charter rates recently eased for flights on turboprops and light and midsize jets while they rose for super-midsize and heavy jets, according to private aviation charter marketplace JetASAP.

Based on 1,965 hourly rate quotes through JetASAP’s app, rates on turboprops dropped 10 percent month-over-month in October, to $3,818, while prices decreased 6 percent, to $7,035, for light jets and 3 percent, to $7,792, for midsize jets, in the same period. But heavy jet hourly charter rates increased 16 percent, to $13,960, while those for super-midsize jets moved slightly higher by 0.6 percent, to $10,787.

The overall rate was up just 1 percent compared with an 11 percent hourly rate decrease over the summer.

According to the company, the JetASAP app connects flyers to more than 700 charter operators. JetASAP added that it expects a busy holiday season for air charter.