Tag: NBAA

Calling All New to BizAv: NBAA Mentors Newcomers, Senators Welcome Women

March 7, 2018

Business aviation is changing. It’s expanding reach both into a new brand of customer — not just the ultra-rich — as well as into more global markets. That’s good for the industry, but active pilots and maintenance crews aren’t able to presently meet the demand. To combat this issue, industry leaders at the National Business Aviation Association (NBAA) have created a mentorship program to guide individuals who are interested in business and private aviation, and congressional representatives are sponsoring initiatives to encourage more women to enter the field.

Mentorship program

Those at the NBAA have initiated phase one of a mentorship program for people desiring to explore opportunities in business aviation. Representatives from the NBAA’s Young Professionals Council created the program along with Domestic Operations and Business Aviation Management Committee members. The program matches industry veteran mentors with those interested in learning about the industry or current aviation professionals who want to further their careers.

  • Newcomers — NBAA members paired individuals from the first group into 20 teams according to their common interests and goals. The 20 mentees include college students starting their careers as well as mature individuals wanting to deepen their knowledge and experience or take a different path within the industry. One mentee is actually a company CEO who wants to learn more about business aviation.
  • Mentors — NBAA members chose mentors for these newcomers from a pool of candidates who expressed interest via membership surveys. Those in each matched pair sign a confidentiality agreement, decide how often they will meet, and set a specified end date so both parties understand it’s not a never-ending commitment.

Phase one will go through June of this year, after which the NBAA has scheduled a nine-month program to begin in September 2019. The group hopes to launch its full mentorship program in fall 2020.

A push for more women

NBAA members aren’t the only ones growing their ranks. With room for opportunity, the business aviation field is predominantly male: Only 6% of pilots, 2% of airline mechanics, and 26% of air traffic controllers are female. Those stats prompted lawmakers to sponsor initiatives to bring more women to the industry.

One bill, the Promoting Women in the Aviation Workforce Act of 2017, urges industry leaders to “explore all opportunities, including pilot training, science, technology, engineering, and mathematics education, and mentorship programs, to encourage and support female students and aviators to pursue a career in aviation.” The bill calls for the FAA to sponsor a Women in Aviation Advisory Board and to explore ways to expand opportunities for women in the field.

In another initiative, lawmakers approved the creation of the Women in Aerospace Act. It allows several science agencies to open up grant opportunities to women. The bill also calls for NASA to prioritize recruiting and promoting qualified women and minorities who are underrepresented in fields such as aviation and aeronautics.

Growing diversity

The actions NBAA members and lawmakers are taking acknowledge the need to advance diversity in private and business aviation. These methods are meant to develop and sustain the interests of individuals aspiring to aviation careers, which could help the industry keep up with business aviation’s expanding role. These programs help promote collaboration and idea exchanges both within the individual programs and the wider business aviation community.

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Business Aviation Makes Good Business Sense

October 25, 2017

Remember when business aviation was a luxury that only leaders of the largest companies or the wealthiest individuals could afford? Or perhaps that’s what you still think. Many business leaders no longer think the corporate jet is a luxury or status symbol. And, according to a National Business Aviation Administration (NBAA) survey, “Business aviation is the sign of a well-managed company, and a tool that provides unique advantages for American companies.”

Business aviation is up

More and more savvy company leaders are realizing the value proposition business aviation offers. According to Argus TRAQPak data, business aviation activity increased more than 5% in August, making it the largest month of operations since May 2008. Those results included a 10.9% year-over-year increase in Part 135 charter activity and a 7% increase in Part 91K fractional activity. Activity for large-cabin aircraft was up 7.2% while midsize jets were up 4.8%. All this increased aviation activity is considered a good indicator of future jet deliveries.

Justifying the cost

The NBAA report concluded that companies with business aviation departments had a greater level of financial success than those without, and those who cut back on their aviation departments experienced financial downturn. In addition to increased shareholder earnings, the report shows that business aviation increases market share, profit and asset efficiency as well as non-financial benefits such as employee and customer satisfaction.

Saving time is one of business aviation’s biggest benefits. And since time is money, it is one of the biggest cost-saving factors the sector offers. In today’s fast-paced international business arena, staying competitive means being able to get as close to your destinations as quickly as possible with little notice. It might even require traveling to more than one meeting location in a day. With commercial air travel, it might take days to make it to the same destinations with connecting flights, fewer airport locations, ground transportation hassles, and more. Commercial airlines cannot provide the flexibility that business executives require.

Business aviation also lets you make better use of in-flight time. Most jets offer internet and satellite communications capabilities as well as meeting rooms and office space. And you can customize your jet to meet specific needs to maximize productivity — or relaxation. Business aviation also allows you to provide more in-person contact with customers, employees, and partners; perks and convenience for colleagues, employees, and family members; and, yes, it can even increase your company’s status in the eyes of others.

A good time to purchase?

The NBAA survey also points to a growing confidence in business aviation. Many respondents indicated they believe we’ve passed the low point in this cycle and are on an upswing. In addition, according to AINonline, “the percentage of survey respondents who indicated a better than 60 percent probability of purchasing a new jet over the next year is the highest in the past two years.”

As business aviation rebounds from the recession, manufacturers are gearing up to meet new demands and are offering great deals on existing inventory. That, combined with a decrease in young used jet inventories, means that this might be a great time to purchase a new jet. Business aviation just makes good business sense. Company leaders who embrace it will likely find themselves in better positions to take advantage of today’s global marketplace.

Contact the experts at L & L International if you need assistance acquiring or selling a private jet.
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