New JSSI Index Shows Flat Growth in Bizav Flying
A new quarterly index that tracks business aircraft flying hours from Jet Support Services (JSSI) shows “relatively flat” year-over-year flight-hour growth of about 1 percent in the second quarter, according to data that the hourly-cost maintenance provider released last week. Quarter-over-quarter, though, business aircraft flying climbed by a “more promising” 3 percent.
“When businesses are flying, it’s usually an indication that their business is thriving. Flight hours are a powerful economic indicator from both a regional and business sector perspective,” said JSSI president and CEO Neil Book.
Interestingly, JSSI is able to break down its business aircraft flying index by both industry and world region. By industry sector, business aircraft activity by companies involved in consumer goods, power/energy, real estate, automotive and manufacturing rose by 36 percent, 35 percent, 24 percent, 10 percent and 7 percent, respectively. Flying by financial services firms was unchanged, while that at technology firms was down 30 percent.
By world region, JSSI’s data shows 8-percent growth year-over-year in business flying in Europe and a 3-percent uptick in the Middle East. Activity in the U.S. was unchanged, while flying in Latin America retracted by 3 percent and Asia/Australia fell by 23 percent.