Business jet valuations for pre-mid-1990 models are in “dire straits” and likely will never recover, Conklin & de Decker vice president and co-owner David Wyndham said in a company newsletter last month. While 15 percent of the active fixed-wing turbine fleet is for sale, he said that more than 25 percent of aircraft more than 15 years old are currently on the market.
Aviation International News » October 2009
According to the management of Jet Republic, the overriding reason that the company suddenly ceased trading on August 20 was because “the aviation asset finance market has completely dried up, making it much more difficult for potential clients to take out and obtain financing for fractional ownership of jets.”
After debating Grand Canyon air-tour noise for eight years, the Grand Canyon Working Group (GCWG) has left the issue to the National Park Service (NPS), which often supports environmentalist positions. At a recent meeting the GCWG disagreed on NPS alternatives, including a seasonal shift in air-tour corridors by alternatively closing the Zuni and Dragon corridors, which are now open concurrently.
Piedmont Aircraft has sold 24 pre-owned business airplanes since its official launch earlier this year, proving that “even in this market, which is one of the toughest markets we have seen in years, there are buyers out there,” said Piedmont CEO Tom Mekis.
Universal Weather and Aviation enhanced its online flight-tracking application, UVdatalink Fleet Status, to help flight departments more easily track and manage their
The FAA on August 20 reinstated the air-carrier operating certificate of Air Trek of Punta Gorda, Fla., after the charter operator fought for more than a year the FAA’s
Cessna Aircraft last month during Asian Aerospace 2009 in Hong Kong received an order for three Citation Sovereigns from the China Flight Inspection Center (CFIC) of the Civil Aviation Administration of China (CAAC). The three new Sovereigns will complement CFIC’s existing fleet of eight Citation XLS/XLS+s. Cessna expects to receive CAAC type validation of the Sovereign by year-end. Deliveries to CFIC are expected to start late next year.
“We’ve felt a more positive vibe on business jets recently, with used inventory ticking down slightly and flight operations edging upward,” JPMorgan Equity Research aerospace analyst Joseph Nadol III said last month.
The European Aviation Safety Agency (EASA) has said it will show greater flexibility in how it takes over responsibility for air operations, flight crew licensing, oversight of non-European operators, air traffic management and airports over the next few years.
The FAA has issued a notice of proposed rulemaking (NPRM) that will attempt to close some loopholes in the Part 23 regulations under which light jets and other airplanes are certified. The NPRM is open for comments until November 16, and the easiest way to view the proposal is to search the term “Docket No. FAA–2009–0738” at www.regulations.gov.