JetNet: Many Bizav Operators in Mood To Buy Aircraft

 - May 26, 2011, 8:30 AM

JetNet today released results from its most-recent quarterly iQ Global Business Aviation Survey, which garnered responses from 506 business aircraft owners and operators in 57 countries. Respondents were asked about intentions to buy and sell turbine airplanes, aircraft purchase criteria, flight-hour utilization, brand reputations of airframe and engine manufacturers and desired product development improvements. The results show that 12 percent of respondents indicated a strong probability (greater than 60-percent likelihood) of purchasing a new business jet or turboprop over the next 12 months, an increase from 11 percent in JetNet iQ’s initial survey in December. Regions outside of North America and Europe, notably Latin America, the Caribbean and Asia Pacific, have the highest purchase likelihoods, JetNet said. “The industry appears to be on the verge of a significant rebound in net orders,” it noted. Similarly, 17 percent of respondents said they were very likely to purchase a pre-owned jet or turboprop over the next 12 months. Meanwhile, owners and operators worldwide expect average flight hour utilization to increase this year and next, though more so in Latin America, the Caribbean and Asia Pacific. When asked about desirable product improvements, respondents are most interested in improved operating efficiency and lower costs of aircraft operation, JetNet said.