The U.S. business jet charter market is set to continue its recovery next year, according to projections online charter portal Avinode released this week at NBAA 2014. It predicts 3.5-percent year-over-year growth in charter flights in the U.S. next year. By U.S. region, the South is expected to see gains of 4 percent; West, 3.6 percent; Northeast, 3.3 percent; and Midwest, 2.5 percent.

“This year, the U.S. charter market has performed extraordinarily well, demonstrating its highest annual levels of business jet travel since the financial crisis of 2008,” said Avinode CEO Niklas Berg. “We expect that by the end of this year the U.S. will see its highest annual levels of business jet travel for at least six years. New business models are emerging, more aircraft are being purchased and venture capital is flowing back into the market.”

Trading conditions in Europe remain less rosy, according to Avinode. “After six years of decline, we expect the European charter market to finally move back into the black next year, with 1.6 percent more flights,” said Berg. “This aggregate figure reflects a clear divide between improving conditions in the North and ongoing challenges in the South, plus ongoing uncertainty caused by geopolitical issues between Russia and the Ukraine. The region will also take longer than the U.S. to return to its pre-recession levels.”