Clearwater, Fla.-based fractional provider Avantair reported another quarter of positive EBITA profits in a difficult economic environment, clearly putting the Piaggio Avanti fleet operator on the path to health after years of losses. In its fiscal third quarter that ended March 31, the company saw year-over-year revenues climb 15.7 percent to $34.7 million.
AINalerts » May 19, 2009
On Friday, the City of Santa Monica’s longstanding effort to ban category C and D aircraft from operating into Santa Monica Airport was again blocked, this time by an FAA hearing officer who ruled on the FAA Part 16 dispute between the city and the FAA.
A Transportation Security Administration directive mandating badging at airports serving commercial air carriers is scheduled to go into effect June 1. This requirement expands the airport identification process to include private aircraft owners, GA maintenance providers, FBO employees, flight instructors, flight school students and other airport tenants needing unescorted access to the airport operations area (AOA).
“The pre-owned business jet market isn’t tanking or upside down; it just returned to normalcy,” noted Dennis Rousseau, a 25-year business aviation veteran and president of AircraftPost, an online market valuation service for midsize and large-cabin business jet owners.
The Teal Group’s recently released 19th annual Business Jet Overview indicates that business aircraft have been hit harder by the economic crisis than any other aerospace market. “After unprecedented growth, the market is falling at an unprecedented rate,” the report notes.