Avinode predicts 2015 private charter growth
Avinode, an online marketplace for air charter flights, revealed its forecast for the business jet charter market at NBAA 2014 today, predicting a 3.5 per cent increase in US flights versus 2014 and a “modest growth” of 1.6 per cent in Europe.
Southern states take-off in the US
According to Avinode, the southern states of the US will enjoy a 4 per cent growth, closely followed by a 3.6 per cent increase in the west. The north-east will see a 3.3 per cent increase in activity, while mid-western flights will grow by 2.5 per cent.
Niklas Berg, CEO of Avinode, said: “This year, the US charter market has performed extraordinarily well, demonstrating its strongest figures since the financial crisis of 2008. We expect that by the end of 2014, the US will see its highest annual levels of business jet travel for at least six years.
“New business models are emerging, more aircraft are being purchased, and venture capital is flowing back into the market. This trend will only continue in 2015, when we are predicting market growth of 3.5 per cent.”
Modest growth in Europe
Avinode predicts the market in northern Europe to grow by 2.8 per cent. Southern Europe, which tends to see more leisure flights, is expected to grow by a much slimmer 0.8 per cent.
“After six years of decline, we expect the European market to finally move back into the black in 2015, with a 1.6 per cent increase in flights,” said Berg.
“This aggregate figure reflects a clear divide between improving conditions in the north and ongoing challenges in the south, plus ongoing uncertainty caused by geopolitical issues between Russia and the Ukraine. While we expect the European market to improve next year, the region will take longer than the US to return to its pre-recession levels.”
Heavy jets enjoy the biggest growth
Avinode expects heavy jet flights (heavy and ultra-long-range jets) to grow by 5.8 per cent in the US and 3.5 per cent in Europe. Ultra-long-range jet flights are set to increase by 8.4 per cent in the US and 8.1 per cent in Europe.
Midsize flights in the US and Europe could grow by 3.1 per cent and 2.2 per cent respectively, while light jets will remain relatively flat, growing by 2.6 per cent in the US and just 0.5 per cent in Europe.