Business aviation is set to make a strong showing next week at the Dubai Airshow, with the sector expected to account for about one-third of the 150 aircraft on static display and approximately 220 of the more than 1,000 exhibiting companies. In addition to the airframers, business aviation service providers such as Jet Aviation, ExecuJet Aviation, Royal Jet and Jetex are exhibiting at the event, which opens on Sunday.
AINalerts » November 14, 2013
Business aircraft activity last month climbed to its highest level since 2008, rising 1.8 percent from a year ago, according to TraqPak data released yesterday by aviation services company Argus. This marks the fourth year-over-year increase this year.
Revenue at Berkshire Hathaway’s “other services” business, which includes NetJets and FlightSafety International, grew by 9.4 percent in the third quarter, to $2.235 billion, thanks in large part to higher sales of fractional aircraft shares at NetJets. In the first nine months, revenue was up by 10.5 percent, to $6.649 billion.
According to the latest business jet market update from J.P.Morgan, recent data shows further weakness in the pre-owned business jet market. Used inventory rose to its highest level since late last year, while pricing showed another sequential decline, the firm said. Business jet flying bounced back, however, providing a glimmer of hope.
Oxford Aviation, a resident of Oxford County Regional Airport in Maine for nearly 25 years, is engaged in a battle with the Oxford County Commission to avoid eviction, and to compound the proceedings the refurbishment and MRO facility filed for Chapter 13 voluntary bankruptcy on Tuesday.
The filing also noted the transfer of Oxford Aviation’s assets to its founder, owner and president, James Horowitz, for $1. The filing also effectively caused cancellation of a hearing scheduled for Wednesday regarding the separate eviction filing by the Oxford County Commission.
DC Aviation-Al Futtaim (DCAF), a joint venture between Germany’s DC Aviation and the Dubai-based Al-Futtaim group, recently opened the first FBO at Dubai World Central Aviation City. The venture will capitalize on Al-Fattaim’s Middle East presence and DC Aviation’s reputation as a private aviation services provider.
GAMA’s board of directors elected Steve Taylor, president of Boeing Business Jets, the association’s chairman for 2014. Taylor previously served as GAMA’s vice chairman of the board and as chairman of the flight operations policy committee. Joe Brown, president of Hartzell Propeller, was selected as GAMA’s vice chairman. He will also continue to serve as chairman of GAMA’s policy and legal issues committee. Meanwhile, GAMA’s board of directors approved Stevens Aviation as a member company.
Because of a recent fleet reduction at CitationAir, the company recently sent furlough notices to 19 pilots. The furloughs will be effective December 6 and will leave approximately 100 pilots at the company, which is winding down its fractional aircraft business as it continues to exit that market.
Flexjet and Abercrombie & Kent introduced “Passport to the World,” the first completely private jet experience circumnavigating the globe. For $1.5 million, guests will travel for two weeks aboard a Challenger 605 operated by Jet Solutions to seven landmark destinations and get “exclusive access to hidden wonders that are out of reach to the rest of the world,” ranging from the Forbidden City to the Taj Mahal. It includes a Japanese tea ceremony in Kyoto and a private opening of Istanbul’s Hagia Sophia, off limits to the public.
Signature Flight Support renewed a multi-year contract with Clear Channel Airports to provide multimedia advertising in the FBO chain’s 62 facilities in the U.S. Business travelers using these FBOs account for a significant percentage of organizational decision-makers, ranging from mid-level career professionals to senior executives, Clear Channel noted. “We look forward to continuing our partnership with Clear Channel Airports as it continually innovates its medium to better engage, inform and educate our travelers,” said Signature president and CEO Maria Sastre.
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