Stronger times ahead for business aviation in 2015: JSSI
By PR Newswire
May 18, 2015, Chicago – Jet Support Services, Inc. (JSSI), the world's leading provider of maintenance support and financial services to the business aviation industry, has released its Q1 2015 Business Aviation Index, which tracks flight hours for business aircraft by region, industry and cabin type. According to JSSI's Q1 2015 Business Aviation Index, global flight hours increased by 6.8% Year-over-Year (YoY) and 0.2% Quarter-over-Quarter (QoQ). Using a new metric – percentage of peak usage – JSSI concluded business aviation is operating at 79% of the sector's 2008 peak levels.
By PR Newswire
“Q1 2015’s flight activity is indicative of a strong North American economy” said Neil W. Book, JSSI’s President and Chief Executive Officer. “However, this is clearly a period of volatility across industries and regions throughout the world. A slowing Chinese economy, coupled with government anti-corruption measures, has had a significant impact on flight hours in Asia.”
JSSI Index: By Peak Usage
For the first time, JSSI reviewed average monthly flight hours per aircraft relative to peak usage. Q1 2008 marked this decade’s highest recorded activity rate, and, as of Q1 2015, JSSI determined monthly usage to be 26.54 hours per aircraft or 79% of the 2008 peak of 33.45 hours.
“This metric indicates corporate travel is gradually climbing towards pre-crisis levels. The C-suite is once again comfortable to publicly acknowledge private aviation is not a frivolous expense, but rather a valuable business tool for an increasingly interconnected global economy,” remarked Book. | READ MORE