On his Wall Street Journal Blog from earlier this week, Robert Frank notes that the use of private jets among corporate execs is rising once again after the noted downturn in the nation’s economy–and that’s good news for the industry. Great news, in fact.
Quoting Frank: “Here is one more sign of that: median spending on private-jet use among corporate executives jumped 9% in fiscal 2008/2009 from fiscal 2007/2008, accordinga study by the Corporate Library. The average corporate jet expense during the period was about $131,000, according to the study.”
After hashing through journalistic “balance” to show that not all is rosy in the world, Mr. Frank concludes with a celebratory statement: “The point is that they are on the upswing, which means a little more rocket fuel for the industry’s comeback.”
Indeed, this is a good sign for improvement in the nation’s economy. It also helps ensure that consumers in the market for a new or used aircraft will be able to find good deals when wanting to make a purchase.