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BizAv Traffic Falls in Europe; Will the U.S. Follow?

Business aviation reports out of Europe paint a declining picture of private charters. There’s been noticeable pullback in BizAv flights over the past 12 months ― as much as 16% since June 2018. Industry analysts expect the pullback to continue through the end of the year. Can the U.S. expect the same?

A look at the numbers

Concerns about BizAv on a global scale aren’t unwarranted. Figures out of Europe show a downturn in business flights across almost every sector ― several with double-digit decreases in traffic over the course of a year. As of June 2019, the figures for BizAv in Europe included:

  • Turboprops fell 28.6%
  • Large aircraft slid 14.4%
  • Light jet traffic dropped 5.3%
  • Midsize jets dipped 4%

The only segment of BizAv currently up year-over-year from 2018 is the super-midsize segment, which has seen a 4.8% increase in flights.

It’s also important to note that declines haven’t been consecutive. Europe’s BizAv market saw a spike in seasonal traffic in May, with all segments experiencing positive flight volume. The general decline is attributed to declines primarily from the fourth quarter of 2018 and the first quarter of 2019.

Short-term headwinds or long-term downtrend?

The decline in European BizAv is the result of several catalysts. Primarily, there are geopolitical concerns centered in Germany and the United Kingdom.

Germany’s economy has been slowing in 2019 and may enter recession territory in 2020. This pullback has contributed to belt-tightening among corporations that would otherwise contribute to BizAv statistics. Similarly, the uncertainty and relative mess of Brexit has hampered a large portion of BizAv traffic to and from London and other destinations. Combined, these two countries represent a significant portion of Europe’s BizAv sector. The result is plain to see: Continental flights are far below 2018 figures.

Interestingly, intercontinental flights are up. Flights to North America rose 5% and charters to Latin America saw explosive growth of 23%.

A glimpse into the future of U.S. BizAv?

Many have started wondering whether Europe’s BizAv troubles will arrive stateside. The U.S. economy appears to be following Germany’s cues toward a slowdown, and global trade tensions have eroded international relations. It’s conceivable that both will impact BizAv.

For now, however, the fears appear unwarranted. According to recent BizAv data, North America has seen an uptick of 2.4% in business aviation over the past 12 months. The FAA has forecasted strong growth in commercial aviation over the next 20 years, and BizAv is expected to follow. With the explosion of globalized commerce and continued expansion of economic hubs worldwide, it’s expected BizAv activity will maintain healthy growth over the long term.

Interesting enough, the tail end of 2019 could yield temporary downturn for BizAv – the fourth quarter tends to be the slowest of the year.

It seems for now Europe’s slowing BizAv sector is a unique problem. While some rippling effects are sure to hit North America, the U.S. remains on track for positive growth in the business aviation sector.

Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
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The Full Financial Impact of Boeing’s 737 MAX Travesty

It’s been months since the initial headlines about Boeing’s 737 MAX scandal initially hit the media. Hundreds dead. Planes grounded. Intervention from the Federal Aviation Administration (FAA). Now, months later, the plane is no closer to a return to the skies and the industry has even more questions. The only thing that’s come to light in any real capacity is how much Boeing will end up paying for its lackadaisical approach to aircraft safety.

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Breaking down the numbers

The big number facing Boeing right now is $4.9 billion. That’s the amount of a special charge the company will absorb in the second quarter of 2020. The true cost actually comes out to a roughly $5.6 billion reduction of revenue and pre-tax earnings, according to the company. This large sum may be the biggest to crater Boeing’s balance sheet, but it’s far from the last.

Alongside this special charge, Boeing anticipates increased production costs for future 737 MAX aircraft as well. That figure currently stands at $1.7 billion on top of the original cost of production cited by the company earlier in the year. Perhaps the most damaging aspect of this cost is its effect on future cash flow. It’s likely to be realized throughout 2020 as it’s incorporated into the next 3,000 or so planes produced by the company.

In addition to higher production costs, Boeing’s production numbers are down dramatically from 52 to 42 planes per month. The lost revenue from this lowered production output compounds its already mounting charges.

Ironically, the smallest sum within the scope of Boeing’s costs is a $50 million fund the company is establishing to deliver near-term relief to families of crash victims. Despite an unwelcome response from families calling this commitment a “PR stunt,” it’s nonetheless another cost to the business.

The total cost to Boeing at this point? Estimates put the number at roughly $8.3 billion. For a company with a $191 billion market cap, the cost may not seem insurmountable, but it’s certainly enough to hamstring the company headed into 2020 — especially as it loses orders to rival Airbus and its favor with the FAA.

Looking ahead … at upcoming costs

The dollar value attached to the 737 MAX scandal isn’t close to concrete. The tallied cost we have today only represents the near-term. Boeing stands to lose much more money in the coming months and years.

For starters, no one is certain when the 737 MAX will fly again. There is no end to the grounding in sight, which means lost revenue for every airline with a handicapped fleet. American Airlines, Southwest Airlines, and other major players have already begun reporting lower-than-expected earnings, citing the grounding as a prime contributor. Their lost revenue is soon to become Boeing’s. The company has already agreed to compensate customers affected by the grounding — namely in future discounts, representing even more costs to be paid in the future.

Boeing has also lost favor with the FAA. Initially slow to take action, the FAA has faced major backlash in recent months over the lack of oversight to Boeing. The agency appears to be on the outset of issuing new regulations aimed specifically at increasing its reach. For Boeing, a more involved FAA likely means higher costs and more regulatory hoops in the future.

The 737 MAX scandal itself may be in the rearview mirror, but Boeing’s costs are just beginning to mount. How high will they go? The next breakpoint appears to be tens of billions of dollars.

The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.

Here are the Top 5 Most Convenient Private Airports in the World

Flying on a company jet comes with broad benefits. When you’re traveling on a corporate or private jet, it’s much easier to sit back and enjoy your flight, or even host a meeting en route to your destination.

One of the few drawbacks associated with traveling via a business aviation (BizAv) flight, however, is that private airports aren’t always conveniently located. You may skip the security lines and airport lounges, only to find yourself stuck in a several-hour car ride to your final destination.

Identifying airports that offer convenient access to their respective city centers and an emphasis on servicing BizAv flights can make traveling via private aircraft both worthwhile and enjoyable.

The best BizAv airports

There are several airports throughout the world that cater to BizAv traffic and are beloved by industry insiders for their proximity to urban centers and business hubs. Here are the world’s most conveniently located airports specializing in BizAv flights:

1. Le Bourget, Paris Paris-Le Bourget Airport is a storied institution. First established in 1919, the airport once served as Paris’ central air traffic hub. Today, it caters only to BizAv and other general aviation flights. The airport offers three runways and is only four miles from Paris.

2. Chicago Midway, Chicago — While commercial flights do fly into Chicago’s Midway International, the airport is increasingly used by BizAv, private, and chartered flights. Chicago Midway is just eight miles from the Chicago Loop, making it much closer to the city center than O’Hare and other suburban options.

3. Boeing Field, Seattle — Located primarily in Seattle’s Georgetown neighborhood, Boeing Field offers exceptionally convenient access to the Pacific Northwest’s vibrant tech hub. The airport offers two runways and is just five miles from Seattle’s city center. Boeing Field primarily serves BizAv, cargo, and general aviation needs.

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4. Business Aviation Terminal, Nice, France — Nice’s conveniently located Business Aviation Terminal not only offers convenient access to the city and surrounding region but also provides a slew of amenities on-site, including luxury shopping and comfortable VIP lounges. Passengers can drive directly to the terminal entrance, where strategic shading allows for discrete entry.

5. London Farnborough, London — The United Kingdom’s first-ever operational airfield, London Farnborough is today completely free of commercial traffic. Located just under an hour from London’s city center, the Farnborough airport also offers direct access to aircraft from private vehicles. The airport boasts stellar service and striking architecture.

Convenience, comfort, and speed are three of the main benefits associated with traveling on a BizAv flight. Next time you find yourself traveling, consider flying through one of these dedicated business airports. It can help you reach your destination faster and maximize your investment in BizAv travel.

The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.

How Can Private Aviation Overcome Staffing Issues?

Demand for private and business aviation (BizAv) travel continues to grow. But a strong job market and a dearth of trained pilots has made it more challenging for BizAv operators to find pilots and support staff to work on private aircraft.

However, the BizAv industry is adapting. Jet owners have begun providing increasingly competitive benefits and emphasizing the exciting lifestyle associated with flying private aircraft. As operators continue adapting to a tightening labor market, they’re also maintaining the exceptionally high standards they look for when selecting a candidate.

Attracting and retaining top talent

The BizAv industry is making changes to the ways it compensates talent, as well as the way it pitches BizAv careers to potential job candidates.

Most aviation professionals crave a stable career, which is why large commercial airlines are so appealing. By offering the same consistent work and pay, the BizAv industry can attract top talent away from airlines.

BizAv careers include exciting travel to interesting destinations on behalf of inspiring people. It’s important for the BizAv industry to position its careers as an opportunity to participate in an exciting, growing community of aviation professionals. This fact alone also helps keep salaries from ballooning, as pilots trade monetary compensation for freedom and adventure.

Hiring a crew

Despite the general headwinds for finding competent, qualified flight staff, there are strategic advantages for BizAv in today’s tight labor market. Here’s where to start looking for pilots, flight attendants, and other flight staff:

  • Consult with your aircraft manufacturer — If you’ve recently purchased an aircraft and need a crew in a hurry, talk to the jet’s manufacturer. Some companies, like Bombardier, will help you hire a crew. This temporary crew will provide you with excellent service and flexibility until you’ve had the chance to hire a permanent team.
  • Recruit military veterans — Former members of the Armed Forces possess the technical skills necessary to pilot aircraft, as well as the professional demeanor necessary to conduct business with high-net-worth clients. Military veterans are among the first people you should turn to when staffing your jet.
  • Focus on individuals with VIP experience — You’ll need a crew that’s comfortable working with discretion. If your flight attendants find themselves starstruck by the passengers they’re assisting, they ultimately won’t be too much help in the air. It’s always best to find crew members with previous experience working with VIPs.

If you’re not the aircraft’s owner, consult with them when making hiring decisions. Ultimately, private flying is an intimate experience. It’s important that the passengers and crew members are able to develop a strong rapport.

Staffing a BizAv aircraft may be challenging; however, learning how to staff your aircraft correctly will ensure a comfortable and consistent flying experience.

The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.

Lavish Beyond Luxe: The 5 Most Expensive Private Jets in the World

Private jets are an impressive luxury by their very nature, but even in this lavish industry some aircraft are a step above. The most expensive private jets weren’t designed as private jets at all — instead, they were customized by businesses or individuals to create a space rivaling a luxury hotel. Whether it’s 24-karat gold bathrooms or an onboard horse stable, these aircraft go beyond luxury. Below are the five most expensive private jets.

Source: wikipedia.org

President Donald Trump’s Boeing 757-200 — $100 million

The Boeing 757 is a midsize airliner known to pilots as “the Ferrari of commercial jets.” Despite being a commercial aircraft, a Boeing 757 is Trump’s personal jet. Trump bought the jet from Microsoft CEO Paul Allen in 2011 for $100 million, a good price for an aircraft model that at the time was 20 years old. The interior was refurbished to fit 43 people, down from the original 180 to 200 passengers. Trump’s jet can fly for 16 hours and reach a speed of 500 miles per hour.

Speaking of Trump, he currently flies in the second most-expensive aircraft in the world, Air Force One, whose security features make its value $660 million. When Trump was elected, he stated he would prefer to fly in his own jet — but federal officials deemed it nearly impossible to retrofit the jet with the necessary security features.

Source: acj.airbus.com

ACJ319neo — $101.5 million

The ACJ, or Airbus Corporate Jet, is the business version of the Airbus A319neo. The $101.5 million price tag is before customization. It boasts the widest and tallest cabin of any corporate jet. The jet is capable of long-range flight from Los Angeles to Geneva. It also offers a lower cabin altitude of 6,400 feet, making passengers more comfortable. Its key feature is the sky ceiling which displays a live view of the sky, or other images.

Source: greenpnt.com

Boeing BBJ 747-8 — $324 million

In 2016, Chinese conglomerate company HNA Group spent $100 million turning the $224 million Boeing 747 into a private jet. This aircraft was the first Boeing Dreamliner purposely built as a private jet, so its interior and fittings were custom made. The interior is 2,400 square feet and includes a master suite with a California king bed, a walk-in closet, and a double-size shower. The BBJ — or Boeing Business Jet — fits up to 40 passengers.

Source: greenpnt.com

Boeing 747-8 VIP — $403 million

Another custom 747, the VIP is the longest and second largest airliner ever made — earning the nickname “Queen of the Skies.” The price tag is $403 million before adding luxury amenities. The interior is 4,786 square feet and features a stateroom, lounges, an office, and a dining room. It can fly 8,000 nautical miles nonstop. The aircraft’s owner remains anonymous.

Prince Al-Waleed’s Airbus 380 — $500 million

The Airbus 380 is the world’s biggest and most expensive private jet. Saudi Prince Al-Waleed bin Talal al-Saud customized the triple-decker commercial airliner to include a stable, a garage, and a prayer room that rotates to always face Mecca. Additional luxuries include a Turkish bath and a concert hall with a grand piano. Many airports have had to update their facilities to accommodate this aircraft, which is the world’s largest commercial airliner.

The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.

Consolidation Is Changing the Future of Private Jetliners

As an industry grows and evolves, consolidation becomes inevitable. Mergers and acquisitions are the way strong players get stronger and rising stars find success. It’s also a way to weed out inefficiency. In fragmented markets such as private aviation, consolidation is necessary to ensure the continued growth and expansion of the industry, before it begins to stagnate.

A look at the private aviation industry

Consolidation is nothing new for the private aviation sector. From 1955 to present day, 25 original manufacturers have existed. Today, there are roughly 14 producers still putting out jets, with 11 core companies presiding in ownership.

Over the past 60 years, several big names have changed hands and still more jets have fallen out of production. Some notable examples include the world-famous Learjet becoming part of Bombardier in 1990 and Cessna being absorbed by Textron Aviation in 1991. Various other smaller deals occurred right around the same time.

But there’s more consolidation to be had. In an industry such as private aviation, a near 1:1 manufacturer-to-owner ratio is a sign of market share up for grabs. Companies such as Boeing, Airbus, Embraer, and others have only been in the market for two decades, right around the time of the last industry consolidation. Opportunities for acquisition are coming to a head.

Beyond manufacturers

Manufacturers aren’t the only aspect of the aviation industry ripe for consolidation. Thanks to headwinds like the global pilot shortage and the rise of new trends like flight sharing, consolidation is also coming to management firms and chartering companies.

According to a panel of industry veterans at the Corporate Jet Investor Miami conference in November 2018, aircraft management is severely fragmented. Estimates show that the top 10 private jet management companies control less than 10% of the total global managed fleet. The sector needs acquisitions to create an economy of scale, bringing about lower costs and standardized incentives for qualified pilots.

Being able to standardize staffing, charters, jet maintenance, and more will enable the private aviation industry to scale sustainably in the coming years.

Change is already happening

While there are little more than rumblings about manufacturer mergers and acquisitions, change is already sweeping through other parts of the industry. In 2018, private charter broker PrivateFly was acquired by competitor Directional Aviation, creating the world’s largest provider of digital, on-demand private jet travel. The company has access to more than 7,000 aircraft worldwide.

This acquisition hasn’t gone unnoticed around the industry. Many smaller charter companies have begun posturing with hopes of acquisition, while others are certainly thinking more creatively about how to attract and retain customers.

Going back even further, jet management company Luxaviation began an acquisition run in 2014 that tripled its size in just two years. Since then it’s continued to grow, adopting chartered services and building out peripheral services to become a global leader in private aviation services. The company is a key example of what consolidation can do.

As the private aviation sector matures, consolidation is an inevitability. This year may be the year dominoes begin to fall and companies start to join forces, to reap a larger slice of the pie.

Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.

BizAv Enters 2019 Strong and Trending Upward

2018 was a rocky year for investments across different asset classes. Real estate coasted to highs across the nation, while the stock market rode a roller coaster through the end of the year. One type of investment soared high and stayed high, however: private jets. Business aviation saw big updrafts last year and will continue to ride these tailwinds deep into 2019.

According to the Jet Support Services Inc. (JSSI) Business Aviation Index, flight hours in the BizAv sector have shown a sustainable increase over the past year. Worldwide flight activity in 2018 was up 4.9% for the year; 4.7% in the fourth quarter. The JSSI Index — which tracks more than 2,000 business jets, turboprops, and helicopters across nine industries — reported an increase of 5.4% in chartered business flights.

Most impressive about the increase in privately chartered hours is the global growth of the industry. North America saw only a modest increase in flight hours (2.8%), while South America (8.1%), Europe (8.8%), and Africa (17.4%) all saw major upswings in private aviation. The global market is thriving.

The market continues to grow

In the United States, there’s reason to believe BizAv will continue steadily on its positive trajectory in 2019. In 2008, about 1,300 new private jets were delivered; however, the industry saw less than half that number in the years following the Great Recession. The industry hasn’t really recovered to previous levels since.

However, with some of the biggest aviation manufacturers located in North America, the number of new annual orders is starting to trend up. Demand from Asia and Europe, alongside domestic orders, is bringing the BizAv industry in America back up to par. And with laws to help owners write off depreciating jet costs as well as better supply chains, it’s getting easier to make, sell, and afford aircraft.

Today, the worldwide fleet consists of about 22,000 private jets — and counting. This number should rise thanks to innovations culminating in jets such as the Citation Longitude from Cessna and the Global 7500 from Bombardier, both slated for delivery later in 2019.

Together, better manufacturing, increased global demand, and innovative new jets are all in a position to push continued growth in the BizAv market.

Private jet

Depreciation is a headwind

There are many tailwinds working in favor of BizAv right now. However, the industry isn’t without headwinds. Specifically, price depreciation is a glaring concern that could cause growth to taper off.

Since the Great Recession, aircraft values have depreciated rapidly during ownership, sometimes dipping below 50% of their purchase value. This makes private jets less of a value for owners interested in reselling. And while the pre-owned jet market has thrived in the past decade, the time has come for a new cycle of jets to enter the market. Unfortunately, this means owners will have to buy new before others can buy pre-owned. More buyers waiting to acquire a jet secondhand means fewer jets actually entering the market.

If innovation and favorable buying conditions are enough to spark the intrigue of prospective jet buyers, the private aviation market could see continued growth in 2019. If depreciation continues to be severe, many buyers may decide it’s not worth the investment. Time will tell!

The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
Inside View Cockpit G550

Pilot Shortages Loom Over an Uncertain Future for the Aviation Industry

The demand for chartered flights has never been higher. Unfortunately, access to qualified pilots and other crew has never been more difficult! In a new report from aviation giant Boeing, there’s an unprecedented pilot shortage upon us, with even more problems looming just a few years down the line. Where have all the qualified pilots gone, and what can we do to bring them back?

Inside View Cockpit G550

Breaking down the shortage

According to Boeing’s industry outlook for BizAv, nearly 800,000 new pilots are required through 2037 to keep up with demand. Asia-Pacific and North America will have the highest demand, requiring 261,000 and 206,000 new pilots respectively. And, of the total world demand for pilots, Boeing estimates business aviation pilots to account for 96,000 of them.

While these numbers show promising growth for a globalized industry, they also point toward an unprecedented shortage of talent. In an accompanying press release, Boeing notes that “this represents double the current workforce and the most significant demand in the outlook’s nine-year history.”

What happened to the pilots?

The lack of qualified pilots is a tale of two problems: too many outgoing pilots retiring and not enough new pilots to keep up with growing demand. There are also several headwinds bearing down on the aviation industry that have led to problems attracting and retaining pilots.

  • According to a report by Forbes, roughly 50% of all pilots in the air today are baby boomers. When the aviation industry rapidly commercialized in the 1980s, these individuals joined the workforce and created the foundation for today’s market. Unfortunately, hires have stagnated and many of these original pilots are retiring.
  • The barriers for entry into the aviation industry are high. Most pilots get their start in the Air Force, but with general armed forces enrollment down, commercial and business pilots are being forced to find programs outside of the military to train them. Flight school can take years to complete, with each year costing as much as $100k — a prospect not appealing to the debt-conscious.
  • Being a pilot means subjecting yourself to tremendous regulation from the FAA. Pilots need to satisfy the 1,500-hour rule to get their Air Transport Pilot (ATP) certificate, along with another 1,000 hours before they can achieve the rank of captain. These barriers deter many would-be pilots from pursuing a career that takes a long time to fully develop.

These factors and more have forced many current and new pilots into lucrative contracts with commercial airlines to retain their talent. The result is fewer available pilots for BizAv and fierce competition to attract and retain new pilots.

Will anything change?

In a survey of pilots through the Business Aviation Management Committee (BAMC), quality of life is cited as a top concern for pilots. To account for this, commercial airlines have begun creating schedules that are conducive to pilot happiness, leading to better retention. For BizAv to become an enticing career option, this industry must do the same.

Providing gainful employment, with opportunities for advancement and the potential for a good quality of life, will make BizAv an attractive sector for pilots. And as the pilot shortage struggles on with no end in sight, attracting and retaining pilots becomes more critical with each passing month.

Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.

BizAv in Retrospect: Looking Back at How Far Private Jets Have Come

Private jets have been a symbol of wealth and luxury since the early 1960s. But today, they’re so much more. Not only are private jets a status symbol that allow owners to travel at their leisure but they’re also practical investments for doing business and accessing an increasingly globalized world. Let’s take a look back to see how far private jets have come in just half a century.

Lear Jet 23

Jets in retrospect

The history of private jets can be traced back to 1963, when the original Lear Jet took flight from Wichita, Kansas. As soon as it hit the skies, the Lear Jet 23 became indicative of something bigger than itself. It was the start of the BizAv industry. Later that same year the first “executive jet” also took flight. The Mystère 20, produced by French firm Dassault, was heralded as the next leap forward in the world of corporate business.

With two classes of private jets now available to businesses and high net-worth individuals, the BizAv industry slowly moved from newfangled and futuristic to practical. Then came the era of Gulfstream jets.

The Gulfstream II debuted in 1966 and revolutionized BizAv. These jets combined the practicality of smaller personal jets with the large cabin space and luxuries of business jets, heralding a model that still leads the industry today. From there, Gulfstream continued to dominate the industry as more and more private jet manufacturers began to spring up. In the late 1960s and early 1970s, notable names such as Embraer and Boeing entered the market, each with its own Gulfstream-like jets.

Gulfstream II

It wasn’t until the early 1990s that the industry saw its next monumental shift in design and innovation: Cessna. The Cessna Citation X featured amazing new flight capabilities, unparalleled cabin luxuries, and state-of-the-art technology that immediately catapulted it to the forefront of private jets. The Cessna Citation XL followed in 1996, again revolutionizing the possibility for private air travel.

Citation X (left) and XL (right)

By 2008, Gulfstream put itself back on top with the G650, the longest-range jet in existence at the time. To show off its abilities, it circled the globe in just 41 hours and 7 minutes! Since then, the BizAv industry has been a battle of innovation, with supersonic jets, unparalleled luxuries, and biofuels making way for marvel after marvel.

More than luxury

Despite a focus on luxury, modern private jets are the perfect mix of practicality and professionalism. Today’s corporate jets are offices in the sky where work gets done, as well as revenue streams and assets for companies doing business globally. Equipped with satellite phones, Wi-Fi, and multimedia tech, modern jets aren’t just about getting to where you’re going: They’re about getting the most done while en route.

The future of private jets

The BizAv industry is due for another rippling wave of change; this decade promises the age of better tech. Already, aircraft manufacturers are exploring opportunities for smartphone integrations, robust cabin controls through touchscreen devices, audiovisual systems, and smart devices.

Many of the big-name players such as Gulfstream and Textron Aviation (makers of Cessna) are still making aircraft today. And where these manufacturers once defined the industry through mechanical innovation, the future is looking bright thanks to their continued emphasis on innovation — this time, within the realm of tech and amenities.

Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.

 

2019

What Does 2019 Have in Store for BizAv?

20192018 was a big year for BizAv. Will 2019 show the same promise? It’s hard to tell, with positive prospects and negative possibilities coming together in crosswinds that will slowly die down as the year moves forward. What we can do is look at emerging trends and upcoming milestones in the year ahead that will help shape the immediate future of BizAv.

2019 headwinds and tailwinds

The aviation industry has a lot going on right now, which makes for a tricky combination of headwinds and tailwinds. A few of the biggest include:

  • Pilot shortages: One of the most significant headwinds facing BizAv in 2019 is a shortage of pilots. The entire aviation industry is feeling this shortage, but it’s most significant in private aviation where companies must compete with the consistency and stability that commercial airlines can offer their pilots.
  • Industry growth: Regardless of how the private jet market changes in the coming year, the industry is slated for growth. The pool of private jet clients and providers will grow in 2019, as will the availability of private jets worldwide, contributing to a major tailwind for the industry.
  • Tech upgrades: The boom of technology in recent decades has impacted virtually every industry, including BizAv. As aircraft designers and manufacturers become more tech-savvy, private aircraft are becoming more luxurious, more comfortable, and more efficient thanks to new technologies.
  • Market cycles: Like any industry, BizAv is subject to a cyclical market that rises and falls over time. Experts expect that a downturn in the U.S. economy could occur as early as October of 2019, so it’s important for businesses in the BizAv industry to be wary of potential headwinds in the coming months.

Which of these trends are likely to continue in 2019? Signs point to the pilot shortage and tech upgrades, with the industry likely showing its cyclical nature later in the coming year.

2019 private jet launches

Those who are closely watching the BizAv industry can also look forward to the launch of new private jets in 2019. The Bombardier Global 8000 is scheduled for delivery in the coming year and will feature streamlined cabin design, seamlessly blending productivity and comfort. The Cessna Citation Hemisphere is another innovative jet that’s currently on hold —but we may see deliveries in 2019 if Cessna presses on with the launch.

Upcoming BizAv events

On top of all the new market trends, technological developments, and product launches on the horizon, there also are a variety of upcoming events designed for current and prospective jet owners.

  • AERO Friedrichshafen: The 26th annual AERO Friedrichshafen trade show will take place in Friedrichshafen, Germany, from April 10-13, 2019.
  • EBACE 2019: EBACE 2019 in Geneva, Switzerland, will bring together industry leaders, experts, and other professionals for an incredible event from May 21-23, 2019.
  • AeroExpo UK: Attendants of AeroExpo UK will be able to enjoy the best of the global aviation industry at the Wycombe Air Park in Buckinghamshire, England, from June 13-15, 2019.

Next year promises to be a busy one for BizAv. There’s plenty to talk about in the industry as a whole, as well as some exciting new deliveries set to hit the market in the next 12 months. True, 2018 was a great year to buy a private jet — but if things continue, 2019 could be even better.

The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.