As the headline suggests, we saw a strong YoY volume increase for Teterboro. It topped the charts on a percentage basis with 69.3% more flights than in February 2021. Boston's Bedford airport also posted really strong YoY numbers coming in 44.8% above last year.
Large cabin jets have seen the largest YoY gain from a size class perspective showing 11k more hours and a 49.7% increase overall.
For New York City and Large Cabin aircraft, Q1 of last year was off relative to the rest of the country and other aircraft size classes. Clearly that is turning around.
For the charter market as a whole, the growth came in at 18.8% with the strongest performance in the last two weeks of the month as winter school breaks started to drive more travel.
The pattern was similar for Part 91 where the second half of the month was stronger than the first half. The YoY growth has been more pronounced in Part 91 flying for a while.
I'm sure that some of you are wondering if we are seeing an impact due to the situation in Ukraine. For the traffic that we focus on, which is US domestic, we have not seen a visible impact so far. It wouldn't surprise me booking windows tighten a bit (meaning people book closer to that date of travel) due to the general sense of uncertainty that the Russian/Ukrainian conflict is driving.
Best regards,
-Greg
