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.
It is the perception of business aviation as a luxurious form of travel that has put a target on the industry’s back, EBAA chairman Brian Humphries said today at an EBACE luncheon. “I’m not sure flutes of champagne and luxurious interiors are what we want to be portraying right now,” he said.
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.
The business jet market is headed for a 15-percent downturn following a peak in deliveries in 2010, according to J.P. Morgan industry analysts. However, the downturn will be smaller than the previous market slowdown in 2001 and 2002, which resulted in a 31-percent decline.
As if there hasn’t already been enough bad financial news, reports from UBS Investment Research and JPMorgan indicate that pre-owned business jet inventories continued to increase in August, leading both firms to warn that deliveries of new aircraft could fall as a result.
Separate reports released in the past week by JPMorgan and UBS Investment Research indicate that pre-owned business jet inventories continued to increase last month, leading both financial analyst firms to warn that deliveries of new aircraft could fall as a result.
Last month nearly 30 business aircraft operators based at Westchester County Airport (HPN) received “Spirit of Noise Abatement Awards” for achieving 100-percent compliance with the voluntary night-flying restraint and high-range noise event programs in 2004. Operators achieving the lowest average sound level were US Cable, flying a Challenger 601, and JPMorgan Chase, flying a GIV and a Challenger 604.
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