Business Aviation: Cautiously Optimistic In 2021
At the close of a tumultuous 2020, trends in business aviation paint a picture of positivity around the sector that suggests better times will follow as COVID-19 vaccination programs begin to be rolled out worldwide.
According to Aviation Week data, while there was a dip in overall business jet utilization back in March, small and medium jets recovered to pre-COVID levels of utilization by late July.
One of the biggest stories for 2021 will be how COVID-19 led to a wave of new private air customers, and the high percentage of those customers who choose to continue to fly private once the pandemic is behind us. This new customer base has the potential to drive overall demand to new highs as international borders open and business travel returns to pre-COVID levels.
But that does not mean that the sector’s problems are now solved as the timing to full recovery will be determined by forces beyond anyone’s control.