ASI Group told AIN at the NBAA Convention last month that recently it has seen a 25-percent increase in customers’ international business jet operations. “The past 90 days have been the most active in terms of international flights that we’ve seen this year,” ASI Group president Charlie LeBlanc said.
ASI Group told AIN at the NBAA Convention yesterday that it recently has seen a 25-percent increase in customers’ international business jet operations. “The past 90 days have been the most active in terms of international flights that we’ve seen this year,” ASI Group president Charlie LeBlanc said.
What economic downturn? Clay Lacy Aviation (CLA) announced the highest growth in its managed-aircraft fleet this year since its founding more than 40 years ago, adding 14 aircraft during the first three quarters. “Aircraft owners today more than ever are looking to maximize the value of their aviation operations,” CLA president Brian Kirkdoffer said in explaining the uptick.
Executive charter activity is not recovering in line with the prevailing uptick on international stock markets, according to the latest data from online charter marketplace CharterX. While both the Wall Street-based S&P 500 Index and London’s FTSE 100 have made up for lost ground since March, the number of for-hire flights made has continued to dip or at best remain flat.
Forecast International estimates that nearly $1.7 billion will be spent on upgrades for fixed-wing aircraft weighing less than 70,000 pounds during the 2009-2018 period. The report of a study conducted by the company, titled “The Market for Light Aircraft Retrofit and Modernization,” noted that a spike in the avionics business as a result of FAA mandates has cooled somewhat but engine upgrades are on the upswing.
The radical shifts in business aviation over the past year were the focus of last month’s 16th annual Corporate Aircraft Transactions seminar held in New York, hosted by Insight. While examining how most aspects of the industry have been affected, many participants expressed their surprise at how fast the industry was overtaken by the economic downturn.
Revenues at Berkshire Hathaway’s services group–which includes fractional provider NetJets and flight-training provider FlightSafety International–were $8.435 billion last year, an increase of $643 million over 2007. Overall, pre-tax earnings at the Berkshire division last year were relatively unchanged from 2007 at $971 million, according to the company’s financial report issued late last week.
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