Air Partner plc reports strong growth in its JetCard product, driven by US activity
Number of JetCard bookings, members and customer deposits up globally as travel restrictions ease
Highlights:
- Global JetCard bookings up 56.8% and number of new members up 36.8% YoY
- US bookings up 152.9% YoY and the number of new US JetCard members up 225.0%
- UK JetCard bookings up 6.3% and customer deposits up 82.4% YoY, despite downward market trend
Air Partner’s Private Jets business has seen a 56.8% increase in JetCard bookings globally from 1 February to 30 June compared to the same period last year, indicating that leisure travellers are increasingly looking to secure flexible and safe travel now that travel restrictions have been eased. The number of new members is also up 36.8% year-on-year, while customer deposits are up 85.2%.
This growth has primarily been driven by the strong performance in the US, where the large domestic market has enabled high-net-worth individuals (HNWIs) to continue flying. This has led to a 152.9% year-on-year increase in bookings and 225.0% increase in new JetCard members. The value of JetCard customer deposits in the US is also up 112.8% year-on-year.
Momentum is starting to build in the UK Private Jets business, with activity now back at pre-COVID levels, and this is expected to continue as the vaccine roll-out drives the return of business and leisure travel. JetCard bookings are up 6.3% and customer deposits are up 82.4% year-on-year, despite the wider downward market trend.Air Partner has seen demand recover faster for its JetCard product than ad-hoc flying. Its first-rate JetCard programme allows clients to buy private jet flying ‘hours’ in advance, while offering fixed rates across six cabin sizes and the ability to change booking details at short notice, without penalty. It is proving extremely popular as it gives travellers the ability to fly in safety, but with flexibility in case they need to amend plans.
In May 2020, Air Partner launched JetCard 5 in the UK and Europe, the first JetCard product with a prepaid package of only five hours’ time, in order to further meet the needs of flyers during this disruptive time, and this has further fuelled demand. JetCard 5 is the ideal safety net for those who want to future-proof their travel plans or those new to private flying.
Mark Briffa, Group CEO of Air Partner plc, commented: “It is extremely encouraging to see such strong growth in our Private Jets business, particularly in the US, and the growing popularity of our JetCard product among both new and existing customers globally. In this environment, customers especially value the flexibility offered by our JetCard in case they need to change their flight plans, as well as the security of knowing a flight will be available to them should they need one at short notice.”
David McCown, President of Air Partner Americas, added: “We are very pleased to see sustained demand from high-net-worth individuals in the US, who have come to rely on our JetCard product for their flying needs throughout the pandemic. We have seen strong growth in deposits and bookings from both new and existing customers, and we expect to see the momentum continue.”
