All about "Empty Leg" Private Jet Flights. Restrictions on Planeside Transportation
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Empty leg flights, Charter Prices for the week of Sept 20, 2019, Restrictions on Planeside Transportation, and other significant updates on Private Jet industry in Episode 2 of Private Jet Insider.
00:58 - For Jet Setters
02:33 - For Charter Brokers
03:38 - For Private Jet Operators
Transcript Below
Follow us at https://www.facebook.com/TapJets
Instagram: https://www.instagram.com/tapjets
Twitter: https://twitter.com/tapjets
Link to the video: https://youtu.be/MPWcql669Ck
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Transcript:
Greetings and welcome to Thursday’s episode of Private Jet Insider. In today’s update for the upcoming week:
-Empty Legs Flights and how they are priced;
-Brokers will see wholesale charter prices in Eastern United States rise by about 7 to 10 percent this upcoming week;
-More airports are restricting planeside transportation.
Hi, my name is Anastasia, and I am your Private Jet Insider.
Every week we bring you this 3-minute episode that covers private jet charter for jet setters, charter brokers, and charter operators.
Our goal is to share the information we have collected and analyzed to help you make better private jet charter flight purchasing and selling decisions.
So, let’s get right to it.
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If you fly private, you probably most likely have heard the term “Empty Leg Flight”. This is typically used to describe a flight that moves the airplane to its next paid booking or to their home base.
The premise and marketing hype suggests that the plane may fly empty if it is unable to get a paid booking. And you would think that a price for such flight should be substantially reduced when compared to a full-price fare.
So, we have analyzed over 300 published empty leg flights for price and availability. Our findings show that the price offered by operators or brokers for such “Empty flight” is only 15 to 20 percent cheaper than buying the flight at full price.
The price gets better the closer you get to departure time. Best prices are when your trip matches perfectly with the announced empty leg. What is interesting is that most of the empty pricing was very close to the price provided by reputable floating fleets. So, make sure to compare price even if you are getting an empty flight pricing.
One last thing to note about the empty leg flights is that they are a BYproduct of the originally booked flight. This means that if the original flight cancels, your booking may be canceled, leaving you searching for an alternative option potentially at the last minute.
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Dear Charter Brokers,
Thanks for your feedback on our last week's episode. We are adding a bit of data to this one as a result of your feedback.
In the upcoming week, the aircraft inventory is fairly balanced across the US, and while we still see requests exceeding availability, the inventory has returned to the normal-balanced pattern.
A review of fuel prices shows that the Eastern states are at the peak price point with New York airport fuel prices posting around $5.60 per gallon wholesale. This is reflected in operator quotes for the flights originating on the East Coast and represents a 7 to 10 percent overall increase of the quotes that are being sent out.
One more interesting fact is that the number of duplicate requests, this is when more than one broker is looking for the same routing, is down this week. I guess price-conscious folks are flying less in the next few days.
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And now for the Operators.
In the next 7 days, it looks like the inventory coverage in North America has returned to normal positioning. There still appears to be a shortage of availability in Upper Central and Central US. So, making sure you respond to these requests is a great idea and could land you a profitable booking if you are in a position for that area. For the floater fleet in the upcoming week, we still recommend avoiding Southeast and Eastern airports as we see a significant abundance of inventory versus demand for it.
And last, but not least: Teeterborro and Fort Lauderdale joined a few other major airports in restricting planeside transportation accommodations. If your clients require planeside pickups, make sure you check with the FBO prior to your flight.
---------------------------------------------------------------------------
Until next Thursday.
Please remember to fly safe, make sure to hit the ‘like’ button below, and subscribe to get notified once the new episode is released. ✈
00:58 - For Jet Setters
02:33 - For Charter Brokers
03:38 - For Private Jet Operators
Transcript Below
Follow us at https://www.facebook.com/TapJets
Instagram: https://www.instagram.com/tapjets
Twitter: https://twitter.com/tapjets
Link to the video: https://youtu.be/MPWcql669Ck
------------------------------------------------------------------------------------------
Transcript:
Greetings and welcome to Thursday’s episode of Private Jet Insider. In today’s update for the upcoming week:
-Empty Legs Flights and how they are priced;
-Brokers will see wholesale charter prices in Eastern United States rise by about 7 to 10 percent this upcoming week;
-More airports are restricting planeside transportation.
Hi, my name is Anastasia, and I am your Private Jet Insider.
Every week we bring you this 3-minute episode that covers private jet charter for jet setters, charter brokers, and charter operators.
Our goal is to share the information we have collected and analyzed to help you make better private jet charter flight purchasing and selling decisions.
So, let’s get right to it.
---------------------------------------------------------------------------
If you fly private, you probably most likely have heard the term “Empty Leg Flight”. This is typically used to describe a flight that moves the airplane to its next paid booking or to their home base.
The premise and marketing hype suggests that the plane may fly empty if it is unable to get a paid booking. And you would think that a price for such flight should be substantially reduced when compared to a full-price fare.
So, we have analyzed over 300 published empty leg flights for price and availability. Our findings show that the price offered by operators or brokers for such “Empty flight” is only 15 to 20 percent cheaper than buying the flight at full price.
The price gets better the closer you get to departure time. Best prices are when your trip matches perfectly with the announced empty leg. What is interesting is that most of the empty pricing was very close to the price provided by reputable floating fleets. So, make sure to compare price even if you are getting an empty flight pricing.
One last thing to note about the empty leg flights is that they are a BYproduct of the originally booked flight. This means that if the original flight cancels, your booking may be canceled, leaving you searching for an alternative option potentially at the last minute.
---------------------------------------------------------------------------
Dear Charter Brokers,
Thanks for your feedback on our last week's episode. We are adding a bit of data to this one as a result of your feedback.
In the upcoming week, the aircraft inventory is fairly balanced across the US, and while we still see requests exceeding availability, the inventory has returned to the normal-balanced pattern.
A review of fuel prices shows that the Eastern states are at the peak price point with New York airport fuel prices posting around $5.60 per gallon wholesale. This is reflected in operator quotes for the flights originating on the East Coast and represents a 7 to 10 percent overall increase of the quotes that are being sent out.
One more interesting fact is that the number of duplicate requests, this is when more than one broker is looking for the same routing, is down this week. I guess price-conscious folks are flying less in the next few days.
--------------------------------------------------------------------------
And now for the Operators.
In the next 7 days, it looks like the inventory coverage in North America has returned to normal positioning. There still appears to be a shortage of availability in Upper Central and Central US. So, making sure you respond to these requests is a great idea and could land you a profitable booking if you are in a position for that area. For the floater fleet in the upcoming week, we still recommend avoiding Southeast and Eastern airports as we see a significant abundance of inventory versus demand for it.
And last, but not least: Teeterborro and Fort Lauderdale joined a few other major airports in restricting planeside transportation accommodations. If your clients require planeside pickups, make sure you check with the FBO prior to your flight.
---------------------------------------------------------------------------
Until next Thursday.
Please remember to fly safe, make sure to hit the ‘like’ button below, and subscribe to get notified once the new episode is released. ✈
