China’s Air Traffic Management Bureau and Airbus’s air traffic management (ATM) company, ProSky, have signed an agreement to work together to modernize that country’s ATM system. The projects include updating the ILS systems at Beijing Capital Airport (ZBAA), conducting a capacity assessment at Chengdu International Airport (ZUUU) and other technology-based ATM improvements.
Here at the Paris Air Show yesterday Robert Martin, managing director and CEO of Singapore-based BOC Aviation, a subsidiary of the Bank of China, shook hands with CFM International executive v-p Chaker Chahrour on a deal for CFM’s LEAP 1A engine to power 10 A320neos–the lessor’s first neo order. BOC also ordered CFM56-5B powerplants for 10 A320ceo aircraft, the total value of the commitments amounting to $460 million at list prices. Martin said at the signing ceremony at CFM’s stand (Hall 2a B252) that the lessor would add 50 aircraft to its fleet this year.
China’s ICBC Leasing has signed a firm order with Airbus covering a total of 50 A320-family narrowbodies, including 30 current-generation A320s and 20 A320neos.
“We expect a bounce in 2012, though we believe the [business jet] recovery will start slowly and we forecast delivery growth of 8 percent,” JPMorgan Investment Research said in its latest monthly business jet market report, released today. However, evidence of a recovery on the low end is still “not compelling,” it noted.
“We sense an eagerness for a pickup in the long-depressed business jet market, particularly at the lower end, but we continue to observe mixed signals,” JPMorgan Investment Research notes in its latest market report. Despite the conflicting signals, the investment research firm still predicts an 8-percent rise in business jet deliveries this year.
According to JPMorgan North American Equity Research’s latest business jet monthly report, business jet deliveries will remain flat this year at about 549 aircraft, 47 percent below the peak in 2008, but this could rise to more than 650 next year.
Demand for new-production business jets “showed signs of perking up” in the second quarter, JPMorgan North American Equity Research noted in its monthly business jet market update.
Demand for new-production business jets “showed signs of perking up” in the second quarter, JPMorgan North American Equity Research notes in its latest monthly business jet market update. However, it is perturbed about macroeconomic concerns.
As mixed signals continue in the business jet market, JPMorgan North American Equity Research says in its latest industry update that a “decisive recovery [remains] elusive.” The investment firm notes positive trends such as “solid” first-quarter business jet orders announced by Bombardier last week, as well as declining pre-owned aircraft inventories.
“We remain guardedly optimistic about a recovery in new business jet demand this year, but the path is a winding one and data points are mixed,” JPMorgan aerospace analyst Joseph Nadol III said in his firm’s latest monthly business jet report, released late last week.
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