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.
Business aviation may still be brimming with righteous indignation over recent attacks by President Barack Obama (in the row over bonus depreciation) and The Wall Street Journal (over the Block Aircraft Registration Request issue), but it now faces bigger and more tangible problems.
After four highly successful years Brian Johnson, the man behind the Isle of Man Aircraft Registry and the island’s first Director of Civil Aviation, leaves on August 26 to pursue a new challenge (the Swaziland registry, according to some reports).
The word “offshore” can conjure images of money laundering, tax dodgers and oil spills, but in today’s business aviation world, as privacy and security become ever more precious commodities, offshore registry is becoming an acceptable alternative.
BAE Systems completed its $187 million sale of its regional aircraft, asset-management business on July 15, marking the official launch of a new leasing entity known as Falko.
Berkley Accident and Health has set up Encap Business Aviation Captive to create “an insurance brokerage program specifically for business aviation employers that employ between ten and 1,000 employees,” Joe Clifton, director of JP Benefits Connection, told AIN. The program offers medical and prescription coverage.
Bryan Moss, the former president and vice chairman of Gulfstream, has joined private investment firm Guggenheim Partners as the chairman of its recently restructured business aircraft investment division. The company, which manages more than $80 billion in assets, provides investment management, investment banking and capital market services among other offerings to corporations, governments and individuals.
FinServe Aviation Insurance introduced an insurance program designed specifically for business aircraft owners and operators in Europe. According to the company, the program covers a broader range of risks associated with business aviation than a standard aircraft insurance policy.
Fourteen charter operators and four auditing companies met early last month to discuss whether there should be a single audit standard for the charter and fractional-share industry. The meeting was organized by the Air Charter Safety Foundation, which developed the ACSF industry audit standard and is proposing that this be the sole standard used for auditing charter companies.
Aerospace firms have been doing a roaring trade here at the Paris Air Show, selling record volumes of aircraft, engines and all the associated systems and services that go with them. But, according to leading mergers and acquisitions specialists, they should be just as busy buying and selling each other since the industry recovery now presents the ideal combination of motive and opportunity.