Global business aviation activity last month surged by 29% compared to the same period in pre-pandemic 2019, as reported by Jefferies Equity Research. The aircraft management segment led this growth, with a 38% increase in activity from 2019, followed by private flight departments, which experienced a 36% rise.
Referencing data from WingX, the investment firm highlighted a 31% increase in the fractional and charter segments since July 2019. Notably, Flexjet and flyExclusive saw significant market share gains, with their activity jumping by 158% and 154%, respectively, compared to July 2019. NetJets also saw a 44% increase, while Wheels Up experienced a 20% decline.
Although the Asia-Pacific region accounted for only 5% of global business aviation departures over the past year, it recorded an impressive 83% increase from 2019 levels. North America, which dominates global activity, posted the next highest growth, with a 29% increase from the pre-Covid period.
Among original equipment manufacturers (OEMs), Embraer aircraft saw the most significant rise, with departures of its Phenom, Legacy, and Praetor twinjets increasing by over 50% since 2019. Gulfstream followed with a 27% increase, Textron Aviation with 26%, and Bombardier with 25%. Jefferies analysts also noted that overall flight hours have risen by 33% compared to 2019, with average flight times increasing by 3% to 1.6 hours per flight.