The White House announced Friday that former Air Line Pilots Association president Randy Babbitt has been nominated to become the next FAA Administrator for a five-year term. The appointment still has to be approved by the full Senate. Since Marion Blakey completed her term as FAA Administrator in 2007, the agency has been operating under two acting administrators.
AINalerts » March 31, 2009
Directional Capital and Resilience Capital Partners have increased their financial stake in fractional-share operator Flight Options and now own a majority of the company. Members of Flight Options’ management team also participated in the new investment. Directional Capital is headed by Kenn Ricci, chairman of Flight Options and also the company’s founder.
Brazilian aircraft manufacturer Embraer released its fourth-quarter results last Friday, noting a net income of $111.7 million, down from $200.9 million for the same period in 2007. Fourth-quarter profits fell 44 percent from fourth-quarter 2007 levels, blamed on losses to currency hedging and a drop in the Brazilian real.
Following a trend that began three months ago, the UBS Business Jet Market Index moved up again this month, signaling that used jet sales may be on a rebound. Although the index is still in negative territory, this “reflects a slower pace of deterioration,” according to the UBS Business Jet Survey released yesterday.
Readers who participated in the 2009 AIN FBO Survey picked Sugar Land Regional Airport as the top FBO this year, displacing long-time number-one favorite Wilson Air Center Memphis to second place. City-owned and -run Sugar Land was the only FBO to top the 9.00 mark in this year's survey.