The market for business jets–both new and used–has taken on a decidedly more global complexion in the past three years in the estimation of Jay and Josh Mesinger, CEO and vice president, respectively, of Boulder, Colorado-based J.Mesinger Corporate Jet Sales. “It used to be when the U.S. sneezed the rest of the world caught a cold,” said Jay Mesinger. “That’s not so much the case anymore, and we think that’s a good thing.”
News and issues concerning aerospace companies, including formations, acquisitions, mergers and financials; and announcements of significant aircraft sales, delivery statistics and personnel appointments.
Ask former Bombardier Aerospace senior vice president for worldwide sales Jahid Fazal-Karim about the current state of the business aviation market and you’re likely to get a lesson in geography as well. Fazal-Karim, who this week became the managing director of aircraft sales and acquisition company Jetcraft Trading, said the business is increasingly becoming less U.S.-centric.
Russian aerospace conglomerate Oboronprom has begun cooperating with European rotorcraft manufacturer Agusta- Westland (Booth No. 7550) in helicopter maintenance, production and distribution–with a 10-aircraft order as a starter.
The Teal Group’s 18th annual business jet overview cites high corporate profits, business globalization, high commodity prices, emerging market growth and a weak dollar for another all-time market high this year, and a sanguine forecast that projects a 10-year demand for 14,289 business jets worth $218 billion. By comparison, the last 10 years saw the production of 6,958 jets worth $124 billion.
Airbus announced yesterday here at EBACE that Comlux Completion has become a 40-percent shareholder in the new Airbus Corporate Jet Centre (ACJC) in Toulouse, France. Comlux Completion is a joint venture between Comlux Aviation Group, launch customer for the A318 Elite (whose aircraft can be seen in the static park), and Bahrain-based Maz Consultancy.
New Berlin, Wisconsin-based EMTEQ (Booth No. 1336) has finalized the acquisition of Cable Technologies of Montana Inc. (CTI), a manufacturer of wire and cable related assemblies based in Great Falls, Montana. EMTEQ specializes in avionics systems and integration, lighting and “cabin comfort” for business aircraft and helicopters, as well as military and air transport aircraft.
Rolls-Royce has again peered into its crystal ball and is predicting steady growth in business jet deliveries through the remainder of the decade, it said yesterday here at EBACE. In a longer view, the company forecasts a demand for 39,000 new business jets, ranging from very light jets to bizliners, worth some $715 billion over the next 20 years.
The next two years seem certain to see a softening in demand for business and private aviation, according to aircraft management and charter group Air Alsie.
Nonetheless, the Danish operator is staying focused on prospects for long-term growth, encouraging its owners to consider buying more modern and longer range aircraft that would hopefully be delivered just in time for a recovery from the current economic downturn.
Early 2008 has seen muted interest, if not a full-blown downturn, in demand for executive charter service in Europe, according to leading charter brokers. “While business levels are still good, corporate client requirements seem to have flattened in the past three to five months,” said David Macdonald, sales director for private jet business at Air Partner (Booth No.
AMAC Aerospace (Booth No. 651), the new Swiss completions, maintenance and refurbishing firm, is here at EBACE announcing it is on target to begin full operations when its first hangar–at EuroAirport Basel-Mulhouse-Freiburg–is completed in September. A spokesman indicated the company plans eventually to include aircraft management, charter and brokerage in its portfolio.