Bizjet Recovery On The Way
The Gerson Lehrmann Group has issued its take on the state of business aviation and it claims there are a few things working in the industry's favor. For one thing, airlines are going out of business or cutting back flights and destinations to avoid that, leaving business aviation as an increasingly attractive option for business owners and execs whose travel needs haven't disappeared in the current climate. "In the weeks and months after 9/11 when the airlines were in lockdown and security requirements made airline travel, if not impossible, extremely unpleasant, business aviation had its finest hour," the analysts said. "Every business jet on a charter certificate was booked."
Gerson Lehrmann also says the current anti-business aviation attitude will disappear and be a non-issue in the decision-making processes of companies and individuals looking for new aircraft. It quotes the Teal Group as predicting recovery for the industry by 2012 with a 10-percent annual growth rate after that. A total of 12,768 business aircraft will be delivered in the next ten years, according to the Teal Group. But even the downturn hasn't been that bad, according to Gerson Lehrmann. "While the industry is working through this down cycle, business jets have not been grounded," the analysis reads. "Flight hours may be off 20%, but the fleet is still growing, and aging."