GE Aviation is currently gathering hardware for the assembly of the first Passport engine for the Bombardier Global 7000 and 8000 program. Assembly of the first full engine will begin by year end, according to Brad Mottier, vice president and general manager of GE Aviation’s Business and General Aviation organization.
Finding a pricing floor for many models has been as elusive as the search for Atlantis, but recent market action is giving hope to underwater sellers. The typical summer plumping of inventory never occurred this year, setting the stage for what could be an active wave of buying in the final quarter.
NextGen is such a vast project, with so many interdependencies–where even if System A is complete and ready to go, it needs Systems B and C before it can be placed into service, and they now won’t be ready for another year or two–that predicting completion dates is a risky business. And predicting the final costs of uncompleted items could be even chancier.
NBAA’s 65th Annual Meeting and Convention comes a little later than normal this year, October 30 through November 1. The main event takes place at the Orange County Convention Center in Orlando, Fla. And like last year’s event, this year’s will feature two static displays, the regular large gathering at Orlando Executive Airport, hosted by Showalter Flying Service, and a smaller on-site display next to the convention center.
Kurt Edwards, formerly the FAA senior advisor for policy, international aviation, and environment, was named director general of the International Business Aviation Council (IBAC). He replaces Donald Spruston, who is retiring.
Signature Flight Support has appointed Sami Teittinen as CFO. Before this appointment he held the same position for sister company ASIG.
Mike Flint, previously v-p and sales director for corporate aircraft finance with GE Capital, has joined CIT Business Aircraft as v-p of U.S. sales.
The Czech capital Prague is set to host the third annual Cepa Expo conference and exhibition at a time when the pace of business aviation growth in Central and Eastern Europe continues to outstrip that in the West of the continent. The November 28 to 30 event is organized by the Central Europe Private Aviation Association (Cepa), which was formed in 2009 to promote the industry’s interests in countries such as Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania, Serbia, the Slovak Republic, Slovakia and Slovenia.
According to data released yesterday by business aviation market information firm JetNet, pre-owned business jet and turboprop inventories trickled downward in August from a year ago. “While the pre-owned market continues to show improvement, all market metrics have been slow to recover,” the company said, “though are much improved compared to the lows recorded over the past three years.”
A study commissioned by the European Business Aviation Association (EBAA) and released yesterday outlines business aviation’s significance in Europe and quantifies how its activities directly and indirectly contribute to the region’s economies. The report, which was compiled by Oxford Economics, confirms that business aircraft primarily carry key corporate decision-makers on high value-added trips.
Forecasted demand for charter flights this month is up on a year-over-year basis but lower than last month, according to the latest data from online charter portal Avinode. At 158.54, the company’s forward-looking demand index for the 30-day period beginning October 1 was almost 12 points down on where it was on September 1. Nonetheless, the index was still 40 points above this time last year, suggesting that a gradual long-term recovery is continuing.
The FAA renewed NBAA’s request for an extension to Exemption 7897, the “NBAA Small Aircraft Exemption,” late last week. The renewal expires March 31, 2013, and, according to NBAA, “allows operators of piston-powered airplanes, small airplanes and all helicopters to use, among other provisions, the limited options for cost reimbursement permitted under Part 91 Subpart F.”