The early months of 2024 unveiled a landscape marked by both continuity and shifts for the business aviation industry. While overall flight volumes maintained a striking similarity to the previous year, the nuances across regions and operator types revealed a multifaceted narrative of the industry’s trajectory.

According to WingX Advance, in 2023, global flight activity had dropped by three per cent compared to 2022, aligning with market expectations following the post-pandemic slowdown. Globally, 5.1 million business jet and turboprop flights were recorded, at a 3.4 per cent compound annual growth rate over four years, with North America and Europe contributing 92 per cent of the activity. While business jet traffic decreased by four per cent compared to 2022, turboprop flights surged, particularly in South America and Africa, doubling since 2019. In December 2023, bizjet activity had dropped by three per cent from 2022 but remained 16 per cent higher than December 2019.

Q1 BIZJET ACTIVITY ROUNDUP

In January 2024, global business aviation experienced a slowdown, with activity down four per cent compared to the previous year but still 16 per cent higher than January 2019. Adverse weather in the US contributed to the decline, while Spain, Italy, and Turkey showed resilient demand. February saw a rebound in global business jet demand, especially in South America and Asia, while the US remained stable. February’s bizjet activity increased by four per cent year-onyear. March 2024 maintained strong global business aviation activity, with the US market showing slight improvement compared to last March but still below the March 2022 peak. Overall, March activity was two per cent higher than last year and 36 per cent higher than March 2019, despite being three per cent lower than 2022. By Week 13, global bizjet activity saw a four per cent decline from the previous year, with 66,983 sectors flown, marking a nine per cent decrease from the previous week. In the US, Week 13 recorded 46,127 business jet sectors, a nine per cent drop from the previous week and four per cent lower than Week 13 in 2023. European business jet activity in Week 13 declined by 13 per cent from 2023 but maintained a one per cent lead over 2019, with Italy as the only standout performer. Meanwhile, the Middle East saw a three per cent decline, and China surged by 60 per cent year-on-year and 56 per cent compared to five years ago, emphasizing resilience amidst regional disparities. Despite these fluctuations, the Q1 activity was slightly ahead of last year and showed a 32 per cent increase compared to 2019, indicating a promising start to Q2.

Beginning of 2024, global business aviation experienced a slowdown, with activity down four per cent compared to the previous year but still 16 per cent higher than January 2019

The first quarter of 2024 presented a mixed picture for global business aviation, with fluctuations across regions and operator types. January saw a downturn in activity, but February and March showed a rebound with varying performance across markets. As the industry entered the second quarter, April indicated a promising uptick, particularly in the US. Despite challenges, the business aviation sector demonstrated resilience and adaptability, signaling potential for continued growth and recovery. Global bizjet activity in Q1 came out to be flat on last year, and -2 per cent as compared to 2022. However, Q2 appeared to be starting out on a better note.

Q2 BEGINS ON A STRONG NOTE

As the second quarter of 2024 began, the aviation industry experienced a significant uptick in activity, particularly in the business jet sector. Analysis by WingX revealed that April’s performance was stronger across most major markets compared to the same period last year, except for some European countries where the charter market had weakened. The United States, in contrast, saw robust demand for large business jets, driving overall sector growth, despite a slight slowdown in charter demand with Part 135 flights declining by six per cent in week 16. From April 1st to 21st, global business jet sectors increased by four per cent compared to last year, although they were three per cent below April 2022 levels. Activity was notably 37 per cent higher than five years ago, indicating significant long-term growth.

In April, Cessna bizjets were the most active in the US in both flights and hours flown, with 4,711 unique aircraft being active in April, flying seven per cent fewer sectors than in April 2022. In contrast, Bombardier and Embraer business jets saw all time peaks in activity in the US. Embraer bizjets represented 13 per cent of all bizjet departures in the US in April, activity 11 per cent ahead of April last year, 76 per cent ahead of April 2019. New York was the largest metro area departure point for Embraer aircraft, Flexjet the largest operator in terms of flights flown.

JANUARY 1 – MARCH 31 ACTIVITY BY SECTOR, COMPARED TO PREVIOUS YEARS. (BUSINESS AVIATION = BUSINESS JETS ONLY)

Market Sector	Flights	vs 1Y ago: Flights	vs 2Y ago: Flights	vs 3Y ago: Flights	vs 4Y ago: Flights	vs 5Y ago: Fights
Scheduled Operation	71,39,784	16.8%	43.9%	91.3%	14.0%	8.5%
Other	9,38,276	27.2%	71.4%	117.2%	100.4%	122.7%
Business Aviation	8,58,273	0.3%	- 2.0%	29.3%	33.5%	32.2%
Cargo	2,69,295	- 1.5%	- 6.6%	- 3.5%	7.6%	24.3%
Grand Total	92,05,628	15.4%	37.9%	80.3%	20.7%	17.0%

Source: WingX

JUNE 1-9, 2024, ACTIVITY BY SECTOR BUSINESS AVIATION = BUSINESS JETS ONLY

Market Sector	Flights	vs 1Y ago: Flights	vs 2Y ago: Flights	vs 3Y ago: Flights	vs 4Y ago: Flights	vs 5Y ago: Fights
Scheduled Operation	7,52,097	2.6%	32.2%	70.2%	424.4%	10.3%
Business Aviation	88,098	- 4.5%	- 7.0%	1.8%	91.1%	32.2%
Other	81,851	4.4%	87.3%	140.0%	653.6%	136.8%
Cargo	22,122	-11.3%	-15.4%	-14.1%	-4.6%	19.3%
Grand Total	9,44,168	1.7%	28.7%	60.5%	322.3%	17.8%

Source: WingX

In Europe, the business aviation landscape showed signs of softening, especially in Germany and France, where utilisation levels fell below 2019 levels. Conversely, the US market remained resilient, particularly among large fleet operators in the charter and fractional space. Globally, in Week 17 (April 22-28), business jet sectors totaled 71,000, down one per cent from the previous week but up four per cent compared to the same period in 2023. Scheduled flight activity surged by 19 per cent compared to 2023, while cargo operators recorded a six per cent increase from last year and a substantial 26 per cent jump from five years ago. In the US, 48,462 business jet sectors were flown during Week 17, with Teterboro as the busiest departure airport. European business jet activity saw a three per cent decline compared to the same week in 2023, with notable decreases in France, Germany, and the UK. Despite fluctuations, trans-Atlantic bizjet activity remained resilient, showing a three per cent increase from last year and a 13 per cent surge compared to five years ago. In the Middle East, bizjet activity grew by 16 per cent from the previous week, signaling a positive trend despite challenges.

The second quarter of 2024 presented a dynamic landscape for global business aviation, marked by geopolitical tensions, fluctuating market demands, and significant events driving activity.

Geopolitical tensions in the Middle East led to a 20 per cent drop in bizjet demand in April. Despite this, global bizjet sectors from April 1-21 increased by 4 per cent year-on-year and 37 per cent from five years ago, though they were three per cent below April 2022 levels. In the Middle East, Week 16 bizjet activity was 11 per cent below last year but 14 per cent above the previous week. Year-to-date, Middle East activity is 8 per cent below 2023 but 46 per cent above 2019. While the region saw fluctuations, notable increases were reported in Bodrum and Doha by June.

The second quarter of 2024 highlighted the resilience and volatility of the global business aviation market, and as the industry navigates through the rest of the year, these patterns of resilience and adaptability will likely continue to shape the trajectory of global business aviation

In Europe, the bizjet market experienced mixed performance. The market remained stagnant at levels from five years ago in April. In May, activity declined, particularly in Germany and France, falling below 2019 levels. However, the D-Day anniversary in June boosted business jet arrivals in Normandy, France. Summer activity increased by three per cent from five years ago, although there were declines in arrivals from France and the UK at the start of Ibiza’s party season. Events like the Champions League Finals and the upcoming Olympics in Paris are expected to drive peak traffic. Overall, Europe’s bizjet activity was slightly down year-on-year but above 2019 levels.

The US market demonstrated resilience and growth. Bizjet activity increased by 15 per cent year-on-year during the Masters golf tournament in April. While there were fluctuations, overall trends remained strong. Early May activity was down four per cent year-on-year but 30 per cent ahead of May 2019. Las Vegas Harry Reid airport saw significant growth with almost 2,000 departures in May, up 16 per cent from the previous year. Despite a slow start to June, US bizjet activity significantly surpassed June 2019 levels. Fractional operators like Netjets and Flexjet saw significant growth throughout the quarter. By June, Dallas Love Field saw a six per cent increase compared to last year, while Chicago Midway experienced a decline.

Globally, bizjet activity experienced minor fluctuations but remained robust overall. In April, 72,000 global bizjet sectors were flown in Week 16, up two per cent from the previous week and four per cent year-on-year. Scheduled flights and cargo operations saw significant growth, contrasting with declines in Part 135 and 91K sectors. By June, 70,613 bizjet sectors were flown in Week 23, down one per cent from the same week in 2023, with Part 135 & 91K sectors falling by four per cent year-on-year. Despite these declines, global bizjet sectors were up 30 per cent from 2019.

China saw a remarkable 94 per cent year-on-year increase in bizjet activity in April, though the F1 Grand Prix had little impact on arrivals. The region continued to show growth into June, albeit with minor fluctuations. South America also saw positive trends, with bizjet flights from Sao Paolo up 15 per cent year-on-year by June.

The second quarter of 2024 highlighted the resilience and volatility of the global business aviation market, influenced by geopolitical events, seasonal factors, and major international gatherings. While some regions faced declines, overall activity remained strong, with significant growth in certain markets and aircraft categories.

LOOKING AHEAD: RESILIENCE AND VOLATILITY

The second quarter of 2024 highlighted the resilience and volatility of the global business aviation market, influenced by geopolitical events, seasonal factors, and major international gatherings. While some regions faced declines, overall activity remained strong, with significant growth in certain markets and aircraft categories. As the industry navigates through the rest of the year, these patterns of resilience and adaptability will likely continue to shape the trajectory of global business aviation.