Charter Report Market Intelligence

2023 Asia Pacific Charter Market Overview

2023 Asia Pacific Charter Market Overview

This article is extracted from the most recent edition of Charter Report.
To read the full article, please download our Asia Pacific Region Charter Report 2023.

The total number of aircraft in the Asia-Pacific charter fleet at the end of June 2023 dipped slightly to 296, down from 301 at the end of June 2022.

Three new aircraft were delivered in 2023, while 11 pre-owned aircraft were added to the charter fleet. Additionally, 38 aircraft were removed from the charter fleet, with 18 leaving Asia-Pacific, mostly heading to the United States. Another 18 aircraft were either stored or underwent heavy maintenance and the remaining two aircraft were retired. Overall, while the total number of charter aircraft in Asia-Pacific decreased slightly when compared to the previous year, the demand in the charter market seems to continue to recover.

Long Range jets are better suited for intercontinental travel, with notable examples being the Gulfstream G550/G650 series and Bombardier’s Global 5000/6000 series. Among this category, the G650ER, with 13, emerged as the most popular charter model in Asia-Pacific. It was closely followed by the G550 and Global 6000, with 12 and 11 aircraft respectively.

On the other hand, Very Light jets, with their lower operating costs, are well-suited for fast transportation within domestic or neighboring countries. The Cessna Citation 510 (Mustang), manufactured by Textron, stands out as the most popular Very Light jet, with 11 units in Asia-Pacific. Overall, the Long Range category accounts for 27% of the market, while the Very Light category makes up 7%.

In the Large jet charter market, Embraer’s Legacy 600 and Gulfstream’s G450 are the preferred choices, with ten units each in Asia-Pacific. Overall, the charter market is showing a preference for intercontinental aircraft models or Light jets in 2023. This reflects the increased demand for international travel within the Asia-Pacific in the post-pandemic era.

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