Inventories of used turbine helicopters have been building since the middle of last year, “but now appear to be stabilizing, albeit at record-high levels,” UBS Investment Research noted in its first turbine helicopter inventory report. According to UBS aerospace/aviation analyst David Strauss, about 1,010 helicopters were on the market at the end of last month, including 974 used models and 36 new delivery positions.
Pinnacle Airlines CEO Phil Trenary last month reported “very good progress” in management’s negotiations with the airline’s ALPA-represented pilots for a new contract, several sections of which he said the company managed to close recently during four days of meetings. “We’re actually down to single digits as far as what’s left,” said Trenary.
Fuel provider Air BP has released dates for its nationwide two-day safety and quality-control seminar series. Airport personnel, pilots, FBOs and flight department employees are invited to learn about current safety regulations with trainers Walter Chartrand and Dave Ware.
Business aviation investor consultant Brian Foley Associates is seeing signs that the pre-owned business jet market could bottom out as early as this summer. “That’s not to say there’ll be an immediate decrease, just that [pre-owned inventory] won’t get much higher,” noted company president Brian Foley.
NBAA and the General Aviation Manufacturers Association (GAMA) have begun television and newspaper advertising for their ‘No Plane No Gain’ initiative to tout the utility of business aircraft and to counter severely negative images, generated during the bailout debate, of corporate executives jetting about the country in plush cabins with cushy seats and wood-paneled interiors.
After a grueling quarter of massive price destruction, a wave of opportunistic buyers has begun to surface and infiltrate the pre-owned jet market. The current economic environment coupled with the public flogging of private jets and their owners has created a sea of discounted jets in all shapes and sizes. There is a growing perception by many that now is the time to buy.
Business aviation investor consultancy Brian Foley Associates is seeing signs that the pre-owned business jet market could bottom out as early as this summer. “That’s not to say there’ll be an immediate decrease, just that it won’t get much higher,” noted company president Brian Foley.
Lufthansa Bombardier Aviation Services (LBAS) has announced the official launch of its customer loyalty program, Maintenance Plus.
In October, oil companies Chevron Global Aviation and Phillips 66 Aviation announced new rewards programs for fuel buyers, which allow flight operations to give the rewards to any employee instead of limiting rewards to pilots. Rewards in the new programs are merchandise cards and in Chevron’s case gas cards as well.
Last year demand for pre-owned business jets and turboprops remained strong. High oil prices and financial turmoil, however, have applied the brakes and inventories are reaching new highs. Buyers are waiting for the deals to come to them, leaving airplanes languishing on the market longer and sellers accepting less just to get out of the market.