JSSI: Global Bizav Activity Bounces Back in 2Q14
Following a “tepid” first quarter, business aviation flying made a strong comeback in the second quarter, according to business aircraft hourly-cost maintenance provider JSSI. The company’s business aviation index for the second quarter shows that global business aviation flight activity ramped up by 8 percent quarter-over-quarter and 3 percent from a year ago.
“After a tough first quarter, economic activity in the U.S. picked up considerably, translating into a corresponding uptick in business aviation,” said JSSI president and CEO Neil Book. “With corporate investments on the rise and businesses feeling more confident about prospects for future economic growth, the use of business aircraft, as tools for generating additional business, is on the rise as well.”
By industry, flying increased at air charter (+5 percent), financial services (+6 percent) and healthcare (+8 percent). Flight activity was flat at real estate and business services firms and down at construction, manufacturing and power/energy companies.
Across the world, flight hours rose in every region but the Middle East/Africa, which fell 3 percent year-over-year. Asia-Pacific led the pack, with flying up 14 percent from a year ago; Europe and Latin America, each up 11 percent; and North America, up 2 percent. Flight activity by aircraft type was positive across the board, with the large-cabin sector seeing the biggest gain at 6 percent versus a year ago.