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Growing Environmental Awareness Boosts Fractional Market in 2022

by Mia Yao
Growing Environmental Awareness Boosts Fractional Market in 2022

Fractional jet ownership has grown in 2022 due to the increasing awareness of sustainability, as some customers turned away from owning an aircraft in order to reduce their carbon footprints, according to the SherpaReport.

“The entire business aviation industry is aware of the need to increase sustainability and fractional companies are no exception,” the luxury travel insight company reported.

Concerns about a changing economy and higher interest rates have also prevented customers from acquiring their own aircraft.

Fractional aircraft flights have seen significant growth in 2022, and the trend is expected to continue for the next 12 months. The growth is also due to a wider variety of aircraft, shorter wait times, a more favorable buyer’s market, and flexible structures.

Fractional companies have shown interest in all types of aircraft including helicopters, turboprops and ultra-long-range jets. Among all the aircraft used for fractional ownership, a shift of preference from smaller jets during the COVID pandemic to long-range aircraft post-pandemic is noticed.

Usually, it takes months and even years to become a fractional owner, but the hundreds of new aircraft and steady demands from new fractional owners will shorten the waiting period.

The SherpaReport also mentioned new fractional agreement options for newcomers, which tend to be more flexible compared to traditional agreements.

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