Perception is reality. That was the message yesterday from European and U.S. business aviation leaders who are waging an image campaign against politicians and the media engaged in class warfare against travelers who fly privately.
Although Westchester County Airport in New York agreed to grant a new
lease on Hangar E-1 to JPMorgan Chase, existing leaseholder Avitat Westchester
Westchester County authorized the county executive to sign a lease with JPMorgan Chase for Hangar E-1 at Westchester County Airport in White Plains, N.Y., but the actual lease has been delayed by court action.
Investment mogul Warren Buffett, who in 1989 named his Bombardier Challenger 600 “The Indefensible” but later renamed the jet “The Indispensable” still believes that aircraft are valuable business tools even in light of the current economy.
Directional Capital and Resilience Capital Partners have increased their financial stake in fractional-share operator Flight Options and now own a majority of the company. Members of Flight Options’ management team also participated in the new investment. Directional Capital is headed by Kenn Ricci, chairman of Flight Options and also the company’s founder.
Following a trend that began three months ago, the UBS Business Jet Market Index moved up again this month, signaling that used jet sales may be on a rebound. Although the index is still in negative territory, this “reflects a slower pace of deterioration,” according to the UBS Business Jet Survey released yesterday.
UBS Market Research’s latest snapshot of the business jet market shows continued incremental deterioration in market conditions in February, although at a slower pace than in the November-to-January time frame. The depressed market conditions are being caused by “way too much” pre-owned inventory for sale, falling pricing and tight financing, the firm said.
The sentiment expressed by the world’s two big airliner manufacturers seem increasingly out of line with the reality perceived by the financial community when it comes to airlines’ ability to fund aircraft deliveries this year, according to some of the industry’s most prominent analysts.
On Monday, JetDirect Aviation and JDA Acquisition Company (JDAAC) solidified an agreement for JDAAC’s purchase of JetDirect’s assets.
UBS Market Research’s latest snapshot of the business jet market shows continued incremental deterioration in market conditions last month, although at a slower pace than in the November-to-January time frame.