A study commissioned by the European Business Aviation Association (EBAA) and released yesterday outlines business aviation’s significance in Europe and quantifies how its activities directly and indirectly contribute to the region’s economies. The report, which was compiled by Oxford Economics, confirms that business aircraft primarily carry key corporate decision-makers on high value-added trips. Additionally, it said that each additional passenger flown on a business aviation flight generates the same GDP as nine business passengers on a scheduled flight.
“If you consider Oxford’s finding that 96 percent of city pairs served by business aviation in 2011 had no scheduled connection,” said EBAA president Brian Humphries, “it is little wonder that business aircraft passengers place a value on business aviation flights that is between eight and 15 times higher than those made on scheduled airlines.”
The study also highlights the importance of business aviation to the local economy. At Farnborough Airport, for example, direct on-site employment is estimated at approximately 1,000, but an additional 4,000 jobs in the local area are part of the airport’s wider supply chain, according to the report.
“What this study clearly points out is that business aviation is playing a key role in facilitating Europe’s recovery,” noted EBAA CEO Fabio Gamba. “This importance should be recognized in policy formulation, with legislators developing regulations and mechanisms that bolster business aviation activity to further stimulate the growth of our region.”