I have been reading a number of articles lately about the pros and cons of owning a corporate jet or why companies should be using corporate jets in their budgets and plans for 2010 and 2011. I am seeing that it seems to be a trend that the bottom has been reached and the slide has stopped. What does this mean for corporate jet manufacturers and private jet users? It means the market will begin to heal.
Kate Sarsfield recently wrote about the lifting of the gloom and reported about The Teal Group study about business aviation:
“Business aircraft have been hit harder by the economic crisis than any other aerospace market,” says Richard Aboulafia, aerospace analyst with the US Teal Group. “After unprecedented growth [in 2006 and 2007], the market fell by 24.3% [in value of deliveries], he says. Aboulafia is confident, however, that the decline is over. “The good news is that the market has stopped falling, and some of the leading indicators offer encouragement.”
With the bottom reached and the outlook about to be stronger, the sales of corporate jets will be on the rise. Looking through more of the Teal Groups report, it appears that the biggest battle is going to be in some of the public perception of the use of corporate jets. The benefits of using a corporate jet is one of the missions of the No Plane No Gain site. I looked through some of the facts that they list for the benefits of using a corporate jet for your company and some of them are not as obvious as benefits. One of the facts that I thought stood out as a reason businesses should consider using private company jets is:
When using a business airplane, employees can meet, plan and work en route. Employees can discuss proprietary information in a secure environment and without fear of eavesdropping, industrial espionage or physical threat.
Many jets can be used as offices in the skies and when on sales trips and meetings or other uses that may not be so obvious to the public. The benefits of using a private corporate jet need to be more evangelized among the companies that are using them and certainly worked into their plans for the future as more and more travel is becoming restrictive. The market it healing. Now while the market is still down is the perfect time to begin thinking of adding a corporate jet to your plans for the future.