“We remain guardedly optimistic about a recovery in new business jet demand this year, but the path is a winding one and data points are mixed,” JPMorgan aerospace analyst Joseph Nadol III said in his firm’s latest monthly business jet report, released late last week.
AINalerts » April 12, 2011
Late last week, the parent company of Cedar City, Utah-based Metalcraft Technologies purchased the assets of the SJ30 light jet program from Emivest Aerospace for $3.5 million in cash. Emivest filed Chapter 11 bankruptcy last October.
Cleveland-based Flight Options today announced 467-percent and 46-percent year-over-year growth in fractional share and jet card (JetPass) sales, respectively, during the first quarter. In addition, fractional utilization in the quarter climbed by 8 percent from a year ago, while JetPass flight revenue hours rose 35 percent.
ACSF Seeks Support for Single Audit Safety Standard
Business aircraft owners struggling to cover their costs now have an alternative to traditional aircraft management through the new Non-Equity Sharers (NES) program offered by UK-based Jet Connections. The Oxford-based company is offering to find up to three people or companies to share use of an aircraft with the owner by dividing the fixed operating costs and making each owner responsible for his individual flight-hour costs.
The controversy over LightSquared’s plan to operate 40,000 high-powered commercial transmitters to provide nationwide Internet connectivity over a radio frequency close to GPS recently ratcheted up another notch with the undersecretaries of the Departments of Defense and Transportation jointly expressing concerns to the FCC about the threat of interference to GPS.