The Argus International Jet Activity Forecast for August predicts a 0.1% drop in private jet activity compared to last month. This is the first time activity has decreased since April, when the pandemic began to have a significant impact on the private jet industry.
Argus attributes the slight decrease in activity to a combination of factors, including ongoing travel restrictions in many countries and the continued economic uncertainty caused by the pandemic. However, they believe that the industry is still on track for a strong recovery in the second half of the year, as more countries begin to open up and the vaccine rollout continues.
Looking at specific regions, Argus predicts that North America will see the biggest decrease in activity, followed by Europe and the Middle East. Asia-Pacific is expected to see a small increase, while activity in Latin America is forecast to remain flat.
Overall, the outlook for the private jet industry remains positive, with Argus forecasting strong growth in the second half of the year as the global economy continues to recover from the pandemic.