Private aviation demand is on the rise, according to the latest Aviation Demand Index, released by PJS on Tuesday.
Private aviation has seen an 11% increase in qualified demand in Q3 over Q2 of this year, with a 6% increase in the same time period for private aviation trips flown. PJS has also seen a 56% increase in the number of inquiries for private aviation services.
It’s likely that the steady increase in demand is a result of a combination of continued growth throughout the economy and the unique service offerings that Private Jet Services offers. Gross domestic product in the economy as a whole has expanded at a seasonally adjusted rate of 3.5% in Q3, a significant rate, though down slightly from the 4.6% growth of Q2.
“The robust growth in demand that private aviation experienced in 2014 is due to the acceleration of business activity in specific industries that are the greatest users of corporate aircraft. PJS alone has seen a marked uptick in demand in the oil and gas, pharmaceutical, government and high-tech industries,” says Founder and CEO of PJS, Greg Raiff.
We expect that the private aviation demand will remain steady into next year.
“I expect the 2014 demand to continue into 2015 for the industry as a whole and for PJS specifically, as our business retains over 90% of our first-time customers due to the unmatched level of service we provide.” says Raiff.
The Aviation Demand Index will be released here on a quarterly basis, with the next release slated for early January.