The business aviation industry finished last year on a mainly positive note, according to Global Jet Capital (GJC), which remains broadly optimistic about prospects for 2024 in its latest assessment of the market. However, according to the finance and leasing group's just published Q4 Business Aviation Market Brief, 2023 did not measure up to the rapid expansion that took place in 2021 and 2022, as “flight operations and transactions declined while inventory increased and values softened.”
During the fourth quarter of last year, GJC reported business aircraft flight operations declining by 0.9 percent year over year. That said, while operations were lower in the U.S. and Europe, elsewhere they climbed, "demonstrating strong global demand for business aviation.” Those numbers, however, are still higher than pre-Covid levels, up 17 percent compared with the fourth quarter of 2019 and up 15.1 percent for 2023 compared with full-year 2019.
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