Business Aircraft Hours On Rise Despite Aviation Fuel Increases
The hours of business aircraft utilization rose by 15% to around 690,000 hours in June 2022 despite the cost of fuel soaring to $4.12 per gallon from $1.75 in June last year. That is according to figures released by Aviation Week Intelligence Network.
This shows the use of business aircraft is on the rise regardless of fuel price increases. In June 2021 the number of hours recorded for business aviation aircraft was 625,000, while in June 2020 just under 450,000 hours were recorded, demonstrating the industry is taking off again following the pandemic.
In April 2020, at the height of COVID-19’s depression of the aviation industry, business aircraft use dipped to 200,000 hours, as did the price of fuel to $0.61. The cost of fuel for most of 2019 nudged close to $2.00 per gallon.