Scan the latest business aviation headlines and you’ll see why the industry is starting to feel positive. All indications are that bizav is growing around the world, which is exciting news for an industry that was hit hard by the recession. Let’s look at some of the headlines and articles that have industry insiders excited:
Business Aircraft Flying Back in the Black
AINOnline is reporting that business jet flying increased 1.8% last month over a year ago. That’s the third year-over-year increase in 2013. While turbo-prop numbers continue to decline, large-cabin jets led the industry with an 8.5% increase in activity over last year.
Huge Turnaround Brewing in Pre-Owned Business Jet Market
The values of pre-owned jets have been declining since 2008, but prior to the financial crisis, prices had been increasing at an unsustainable rate. This piece points out that airplanes don’t wear out like a car does, and they are portable assets that can be sold on a global market. Currently pre-owned jets are being “grossly undervalued,” making it the perfect time to buy if you’ve been considering the investment.
Giant Order for Bombardier Business Jets
Flexjet, a fractional ownership service provider, just placed a $5.2 billion order with the Canadian Bombardier. Not only does this indicate huge growth for Flexjet, it’s also exciting news for those working in the bizav industry as the company will be hiring pilots and flight crews to service the planes. The company is reporting a 96% year-over-year growth for the first six months of 2013.
JP Morgan Says Business Jet Market Is Improving
JP Morgan’s September 2013 report on the bizav industry suggests “subtle improvements” for the global market. They cite a 4.7% rise in U.S. flight operations in July, “the fourth consecutive month of year-on-year growth.” With U.S. operators flying more, indications are good for continued growth.
We hope to see more positive bizav headlines in the coming months and heading into 2014!