Jet air charter costs for business travelers declined markedly over the past year, according to a survey conducted by CharterAuction.com of Quincy, Mass., which claims to be the air charter industry’s only wholesale auction provider. For the year ending this past July, data collected on nearly 22,000 bids of varying aircraft types showed an overall drop of 8.7 percent in pricing trends over that period. Nathan McKelvey, company president and founder, said the study indicated large jets experienced the greatest pricing decrease at 15 percent, while small and medium types declined at 6.7 and 9.7 percent, respectively.
He observed, “The drops in pricing are even more remarkable when one considers the demand for charter services has risen more than 20 percent over the past year. Post 9/11, many charter operators reported increases in fleet utilization, which theoretically would reduce supply and increase pricing.”
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