In the ongoing trial of Platinum Jet executives in Newark, N.J., a U.S. district judge took the unusual step last week of dismissing charges against one of the three men–former director of maintenance Brien McKenzie–saying the prosecution failed to prove its case against him.
AINalerts » November 9, 2010
Berkshire Hathaway on Friday reported that revenues at its NetJets fractional aircraft subsidiary climbed 17 percent during the first nine months of 2010 versus a year ago “due to an increase in worldwide flight revenue hours and increased fuel cost recoveries, partially offset by lower management fees due to fewer aircraft in the NetJets program.” According to the third-quarter financial report, NetJets logged pre-tax earnings of $158 millio
Business aviation market analyst Brian Foley is bullish on prospects for the business aviation market this decade in China. With its large geographical size and matching population, as well as skyrocketing wealth, he said many in the industry hope the region will soon unleash an “insatiable demand” for new business aircraft, opening an enormous new market.
The recovery in the business jet market was mixed again last month, according to JPMorgan North American Equity Research’s latest monthly business jet report, released on Friday. Indicators for pre-owned business jets deteriorated a bit further last month, the firm said, while manufacturers saw increased order activity for new aircraft.
General aviation aircraft shipment data released today by the General Aviation Manufacturers Association (GAMA) starkly demonstrate the continued effects the sour economy has had on the OEMs over the past two years. In the first nine months, GA airplane shipments numbered 1,357 units, down 14.5 percent from 1,588 in the same nine months last year. Billings in the nine-month period slipped 2.5 percent from a year ago to $13.47 billion.