“Business jet deliveries rose 11 percent year-over-year in the first half of the year, prompting some commentary that a recovery is under way, but we view this conclusion as premature,” JPMorgan North American Research said in its latest monthly business jet outlook, released yesterday. “Tougher comparables and fewer Hawker deliveries post-bankruptcy should result in a second-half decline that holds deliveries flattish for the year.”
More than 100 business aircraft, with a nominal overall value of more than $1 billion, are currently covered under the FinServe European Business Aviation Placement (F-EBAP) “privileged” insurance program sold by independent broker FinServe Aviation Insurance (Stand 383), which is celebrating its 25th anniversary.
California-based private equity firm Levine Leichtman Capital Partners finalized its acquisition of ground-support equipment manufacturer Tronair (Booth P413) earlier this month. The U.S. company makes more than 1,000 products, including towbars, electric tugs, tripod jacks, de-icer carts, lavatory servicing equipment, potable water carts and engine inlet covers for more than 300 business aircraft, military aircraft and airliners. Tronair was founded in 1971 as Danair, a division of the Dana flight department, and first manufactured towbars for Learjets, Falcons and the Gulfstream Is.
In an era when the Internet is eliminating many forms of privacy, the charter industry remains somewhat opaque, leaving charter clients without essential information about their trips, in the opinions of James Chitty and Nicolos Bozzo, founders of PlaneClear, based in Long Island City, N.Y.
Chitty, PlaneClear’s president, worked for Liberty Jet and vice president Bozzo for Gama Aviation before they founded PlaneClear in 2008, “to bring unprecedented transparency to the private charter market,” according to a PlaneClear statement.
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.
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.
Insurance giant AIG appeared closer to proceeding with plans to wind down its exposure to the aircraft leasing business when on September 2 its ILFC unit filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering.
Despite the increasingly uncertain economic outlook, trading conditions for companies making their living from the air transport aftermarket are improving, according to analysts at Swiss bank UBS.
The Independent Fixed Base Operators Association (IFBOA) and insurance provider QBE Holdings have announced the creation of a new insurance program for the association’s members. According to IFBOA, the program will provide workers’ compensation insurance at competitive rates while allowing participants to earn an annual return on those costs while taking advantage of the group’s purchasing power.