In September 2010, the National Bureau of Economic Research declared that the recession had ended in June 2009 and a recovery was under way.
The first quarter “was a mixed bag of results” for the business aircraft pre-owned market, indicating that “recovery still remains elusive,” according to business aviation information firm Amstat. “On the one hand, inventories generally continued to contract, but year-on-year transaction activity remained largely unchanged and average asking prices in many parts of the market continued to face downward pressure,” the Tinton Falls, N.J.-based company said.
Demand for charter flights appears to be heading upwards this month, according to the latest projections from online charter portal Avinode. The group’s forward-looking demand index for the next month stood at 114.23 earlier this week–almost 21 points above the month-ago level and more than 14 points above where it was 12 months ago.
In a February 1 letter to American Airlines employees, company chairman and CEO Thomas Horton identified $1.25 billion in annual employee-related cost reductions—estimated to involve between 12,000 and 14,000 job cuts—among a list of some $2 billion worth of annual cost-savings initiatives that include restructuring debt and leases, grounding of older airplanes and improving supplier contracts.
Jet Aviation Zurich said it handled the majority of aircraft and passengers attending the 42nd annual World Economic Forum meeting, which was held late last week in Davos, Switzerland. From Wednesday through Sunday, the FBO handled 726 aircraft movements and 1,600 passengers, the same number as it did last year’s economic forum. “We welcomed and assisted most heads of state attending the World Economic Forum,” said Jet Aviation Zurich director Robert Whitehead.
ExecuJet Aviation is offering aircraft buyers a more direct and straightforward way to finance and operate business jets through its relaunched SimplyFly program. The package offers a quick decision on financing and the opportunity to have the aircraft managed.
Uncertainty. It’s a word that packs a lot of fear and indecision into four syllables, and one that has continued to burden not only the U.S. economy but that of the world as well.
Accelerated depreciation for private aircraft became a hot topic again this past June when President Obama repeatedly cited it as a prime example of special tax breaks for the rich he wanted to eliminate.
The Middle East Business Aviation Association (MEBAA) launched an aviation insurance group discount program for members on Tuesday at the Dubai Air Show.
The Middle East Business Aviation Association (MEBAA) and Gates & Partners, the London-based international law firm, will hold a free one-day seminar at the Dubai Air Show on Wednesday, November 16.