Finance

June 7, 2011 - 10:30am

As mixed signals continue in the business jet market, JPMorgan North American Equity Research says in its latest industry update that a “decisive recovery [remains] elusive.” The investment firm notes positive trends such as “solid” first-quarter business jet orders announced by Bombardier last week, as well as declining pre-owned aircraft inventories.

June 6, 2011 - 6:55am
Aerospace manufacturers, like Airbus with its European factories, including t...

Aerospace companies trying to bounce back from the downturn face many challenges, including rising costs, but they are still enjoying one blessing: lower insurance costs. The latest “Aerospace Market Outlook” report from leading insurance group Aon Risk Solutions shows the industry now starting its fifth consecutive year of falling premiums.

June 1, 2011 - 6:15am

Berkshire Hathaway’s audit committee claims that former NetJets chairman and CEO David Sokol violated “the highest standards of business ethics” maintained by NetJets parent Berkshire Hathaway in his trading of shares in Lubrizol. Sokol resigned from Berkshire Hathaway on March 28.

June 1, 2011 - 4:10am

Newly hired general aviation industry workers are most at risk for suffering on-the-job injuries, according to a study released recently by United States Aviation Underwriters (USAU). In an attempt to categorize the areas where most injuries and worker-compensation claims occur in the GA industry, USAU studied the last 10 years of insurance claims from its clients.

May 31, 2011 - 4:30pm

Business aircraft sales firm Jetcraft is “seeing clear evidence” of a return to a more stable pricing environment for large-cabin, long-range business jets. “There has been a significant reduction in the gap between buyer and seller price expectations, due in part to the reduction of distressed assets that flooded the market in late 2008,” noted company co-owner Jahid Fazal-Karim.

May 31, 2011 - 4:00pm

Advocacy efforts by NBAA members, the Connecticut Legislative Aviation Caucus and the Connecticut Business Aviation Group to fight a personal property tax on all aircraft based in the state were successful. Last month, the House and Senate in Connecticut passed a budget that does not contain “the potentially devastating tax increases for aviation that were proposed in earlier versions,” NBAA said.

May 28, 2011 - 3:15pm

Offshore helicopter services company Bristow announced increased earnings and revenues for its fiscal year ended March 31 of $121.3 million and $1.233 billion, respectively. The company reported that revenue increased across all primary business units

 “Fiscal 2011 turned out to be a strong year, distinguished by record revenue, operating income and net income,” said CEO Bill Chiles.

May 28, 2011 - 9:00am

The current pre-owned aircraft market can be defined as consistent as inventory continues to inch down, month-after-month. Many people regard this consistency to be welcome news, considering where the market was a couple of years ago.

May 24, 2011 - 8:20am

There is “uneven progress” toward recovery, JPMorgan said in its latest business jet market update.

May 23, 2011 - 3:35pm

Russian Helicopters postponed its offering of “ordinary shares and global depositary receipts” last month. Board member Andrei Reus said he believed “market participants will benefit from more time to reflect upon the true value and growth potential of the business.” When announced in April, the total size of the IPO was expected to exceed $500 million.

 
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