Business aircraft sales firm Jetcraft is “seeing clear evidence” of a return to a more stable pricing environment for large-cabin, long-range business jets. “There has been a significant reduction in the gap between buyer and seller price expectations, due in part to the reduction of distressed assets that flooded the market in late 2008,” noted company co-owner Jahid Fazal-Karim.
AINalerts » May 5, 2011
Projected air charter demand dipped slightly from last month, but this has had negligible impact on anticipated pricing levels, according to the latest forward-looking index from online charter portal Avinode.
Hawker Beechcraft (HBC) will have to pay $14.2 million to close a two-year-old dispute with Airbus, which manufactures Hawker business jet airframe components for Wichita-based HBC. On April 29, an arbitrator–the International Chamber of Commerce–imposed the award for damages relating to HBC’s purchase volume obligations for fuselages, wings, track kits and spare parts under an airframe purchase and support agreement.
Advocacy efforts by NBAA members, the Connecticut Legislative Aviation Caucus and the Connecticut Business Aviation Group to fight a personal property tax on all aircraft based in the state were successful. On Tuesday night, the House and Senate in Connecticut passed a budget that does not contain “the potentially devastating tax increases for aviation that were proposed in earlier versions,” NBAA said.
Spain’s Inaer and UK-based Bond Aviation Group, two major helicopter operators in Europe, now have the same parent company–World Helicopters, a holding firm owned by Investindustrial and KKR. World Helicopters completed its acquisition of Bond this week.