The Private Aviation Business Is Booming

Wednesday, April 28th, 2021

Good News in Trying Times

So many have suffered over the past year because of the pandemic; many businesses have been crippled or failed. But some industries, like video conferencing (Zoom calls have become the new standard for business meetings), Netflix, Amazon and hundreds of other ecommerce businesses, have exploded. Add the private jet industry to that group.

While commercial airlines are still struggling as of April, Accenture’s Commercial Aerospace Insight Report 2021 shows signs of hope:

  • 49% of executives expect airline industry revenues to take 24-36 months to recover to 2019 levels; and
  • Optimism is on the rise, with 68% of executives surveyed expect production capacity to increase over the next 18 months.

Private jet demand began surging in the summer of 2020, as customers flocked to charter operators, low commercial flight inventory (approximately 15% of the pre-pandemic volume) and health concerns from flying commercial.

Demand stayed high during the winter holiday season, and now with vaccinations on the rise and most areas of the U.S reopening, business flights and family travel is keeping private jet demand at or above pre-covid levels for many carriers.

Here are a few of the key takeaways from the recent article Private jets surge in popularity while commercial airlines struggle:

  • Small planes — four to seven passengers — are the busiest, with fourth quarter departures down only about 10% from pre-pandemic levels, according to David Wireman, head of Alix Partners’ aviation practice. “That’s people flying their families around.”
  • Flights on larger jets — the 10- or more seaters used by corporations — are down as much as 26%. Commercial airlines, by comparison, are still seeing passenger traffic 55% below pre-pandemic levels.
  • Innovations like the on-demand apps that have made booking a private flight almost as easy as hailing an Uber will continue, predicts Wireman.
  • It’s possible that demand could wane as more people move back to commercial flights

The Continued Growth of Online Training

The pandemic has also accelerated the shift from classroom training to online training. When we started TrainingBoom in 2008, we had to convince many operators that online training was the future because it’s proven in higher education and reduces training costs. Not everyone believed it back then, but that future is here today.

2021 has been very busy for us as we continue to grow and serve our expanding client base. Training is so critical to safety – we encourage all operators to continually review the quality and customization of their online training. It’s hard to find the time for some, but always worth the effort.

If you’d like to see how we can deliver a customized program for your team, connect with TrainingBoom.

Over the years our clients have learned that we’re not just a software company; we’re a group of people committed to providing high-quality, cost-effective pilot training.

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