Hourly rates for on-demand charter dipped by an average of 4 percent quarter-over-quarter in the first three months of 2023, according to a report from private aviation charter marketplace JetASAP. The data is based on 9,103 rate quotes from customers using the JetASAP app. More than 700 charter operators use the JetASAP marketplace. 

Turboprop rates increased 1 percent, to $3,841 per flight hour, while light jets experienced the largest decrease, falling 10 percent to an all-in hourly rate of $6,358. Midsize jet prices declined by an average of 4 percent, to $7,831 an hour, and super-midsize jer prices slid 5 percent, to $11,036 an hour. Heavy jet prices descended 2 percent, to $13,387 per flight hour.

JetASAP noted an overall decrease of 2 percent in direct charter operator hourly rates from February to March. Turboprops had the largest drop-off month-over-month, falling 5 percent, and light jets experienced a 2 percent slide in hourly pricing.

According to JetASAP, the most popular travel destination in the quarter was the Caribbean—primarily Turks and Caicos, followed by Nassau and the Abacos. South Florida was also a popular spring-break destination, with customers flying to Miami and Palm Beach, the company said.