Economist Sees Clouds Clearing in 2015

 - June 11, 2013, 3:55 PM

According to economist Brian Beaulieu, 2015 will be the start of a strong economic rebound in the U.S. Speaking last week at the third annual JetNet IQ Summit in New York, Beaulieu, CEO of financial data analyst ITR, added, however, that he expects another fiscal slowdown next year before the start of the upswing cycle.

At the conference, JetNet IQ director Rolland Vincent released some findings from the company’s most recent operator survey, which found that operator predictions of increased flying over the next 12 months eroded slightly from the previous year, reflecting continued uncertainty in the industry. The just-completed second-quarter survey also showed some growing pessimism among respondents: 42 percent said they believe the current business aviation market conditions are past the low point, compared with 47 percent in the first quarter. Meanwhile, the percentage of respondents who indicated the industry has not yet reached the low point rose from 21 percent to 24 percent in the second quarter.

Vincent said he expects business jet deliveries to show a slight increase this year, with billings boosted by a larger proportion of large-cabin jets such as the Gulfstream G650. Among its more than 500 survey respondents worldwide, JetNet found that more than 12 percent said they have a strong (61 to 100 percent) probability of buying a new turbine aircraft in the next 12 months.