With two days of reporting to go, the month of June is clocking in with about 7,000 fewer charter hours (for the tails that we track) than in 2021. That represents a 5.1% decline YoY with a steeper decline in the most recent 7 day period. Every indication is that this drop in charter flying is the result of the market catching up to world events.
When we look at Part 91 volume, the hours are up more than charter is down, so for those in the the FBO space or other parts of the industry that serve all market segments, your overall volume is still trending up. We do see that the YoY growth percentage for Part 91 is trending down slightly, however some of that drop is due to a recovery in Part 91 as we rolled into the summer of 2021 (note how the gray line is increasing in the chart below).
The way the calendar falls this month, if we were to generate the full deck of data and hold our call tomorrow, we would not yet have the full-month numbers for June. For this reason, I am going to push the call to next Thursday the 7th of July.
Allow me to wish everyone a Happy Fourth of July from me and the rest of the Tuvoli team!