“We believe the recent improvement in our survey and many of the other key indicators that we monitor, including increased flight activity and lower used inventories, are reflective of an early-stage recovery,” UBS Investment Research U.S. aerospace and defense analyst David Strauss wrote in his firm’s latest monthly business jet market report.
AINalerts » May 10, 2011
Business aircraft flight activity last month dipped by 0.4 percent from a year ago, due primarily to a steep drop in Part 135 turboprop and light jet flying, according to TraqPak data released yesterday by aviation services company Argus. The fractional and Part 91 markets each saw flight activity increase, by 6.5 percent and 2.5 percent year-over-year, respectively.
In the first quarter, general aviation airplane shipments fell 4.6 percent, from 390 aircraft last year to 372 this year, according to data released today by the General Aviation Manufacturers Association (GAMA). However, GA airplane billings dived by 19.6 percent year-over-year to $3.7 billion in the first three months, due primarily to a 22-percent drop in business jet shipments, from 164 aircraft to 128.
CitationAir said yesterday that it has asked all of its remaining 32 pilots on furlough to return to work. The Greenwich, Conn.-based fractional provider placed 85 pilots on furlough in 2009 to right-size the business and be in line with customer demand during the economic recession, thereby cutting the company’s pilot force to 307 people.
General DeWitt Spain Airport (M01) in Memphis has been closed since last Wednesday due to the flooding from the Mississippi River. The general aviation airport–home to more than 70 aircraft, including several turboprops–is currently under more than six feet of water, according to a Memphis-Shelby County Airport Authority spokesman. In 1987, the authority built a levee to protect the airport from the nearby river.