Although the downturn in the economy has dampened the near-term prospects for the general aviation industry, demand for business aviation will expand over the long term, according to the most recent forecast from the FAA, which anticipates a growing U.S. and world economy.
Very light jet
Former American Airlines chief Robert Crandall’s plans to blanket the Northeast U.S. with a fleet of air-taxi Eclipse 500 very light jets under the Pogo Jet brand name have come to an end. In a filing with the Securities and Exchange Commission, Pogo Jet of Chicopee, Mass., applied to withdraw its registration statement for an initial public stock offering. The IPO filing was made on Sept.
Twenty-six-year-old New Jersey businessman Jared Isaacman, along with copilot Doug Demko, yesterday shattered the world record for an eastbound global circumnavigation in a light business jet, with a time of 61 hours, 51 minutes and 15 seconds, lopping 21 hours off the previous record set in 1991 by a UK pilot in a Cessna Citation II.
A Brazilian labor court ruled late last month that Embraer would not have to reinstate some 4,300 employees it laid off in February after it found that the company did not violate any of the country’s labor laws. However, the court ruled that Embraer would have to pay the employees’ salaries up to March 13, rather than February 19–the day the company instituted the dismissals.
A Brazilian labor court ruled late yesterday that Embraer would not have to reinstate some 4,300 employees laid off in February after it found that the company did not violate any of the country’s labor laws.
Dutch very light jet operator Bikkair shut down on February 4, saying that it was unable to secure the capital it needed to fund its development. The Rotterdam-based company began operations in March last year with the first of an undisclosed number of Cessna Citation Mustangs it ordered and had been offering block charter arrangements through its Amulet program.
Russian investment firm Industrial Investors in late January announced its intention to sell all or a portion of AAI Acquisition, the company formed to buy the assets of bankrupt very light jet developer Adam Aircraft Industries last April. According to a company spokesman, Industrial Investors would prefer to find a partner help to develop the A700, but it would also sell AAI outright if needed.
Is the light at the end of the tunnel of our economic crisis a reality, or merely the triumph of wishful thinking over reality?
Even as Congress haggles over the details of an $800 billion economic stimulus plan there are some signs of movement in a positive direction within the business aviation industry.
Russian investment firm Industrial Investors today announced it is seeking to sell all or a portion of AAI Acquisition, the company formed to buy the assets of bankrupt very light jet developer Adam Aircraft Industries last April.