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.
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.
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.
“We believe the recent improvement in our survey and many of the other key indicators that we monitor, including increased flight activity and lower used inventories, are reflective of an early-stage recovery,” UBS Investment Research U.S. aerospace and defense analyst David Strauss wrote in his firm’s latest monthly business jet market report.
In its latest monthly business jet report, released last week, investment research firm UBS saw a slight increase in the overall used aircraft inventory in November, its fourth straight monthly increase following a steady declining trend over the past 14 months. Available aircraft inventories were 3 percent higher than those in July.
According to a report in today's edition of The New York Times, the U.S. government has cleared General Motors to use charter aircraft for its initial public offering (IPO) roadshow, starting today. GM, which yesterday announced a $13 billion public offering, did not respond to AIN's request for comment at press time. This will mark the first time that GM has been allowed to use private aircraft since Dec.
During a time when careful shoppers might be expected to make every effort to save money, the charter brokerage business has continued to grow, despite the fact that there is nothing stopping consumers from contacting charter providers directly and negotiating their best deal.
Conditions for general aviation businesses “have noticeably improved” in the year since the last NBAA Convention, according to New Jersey-based aviation consultant Brian Foley. “There’s an entire spectrum of the industry seeing these better results, including MRO, FBO, charter and fractional companies,” he said.
Contract fueler and trip support specialist Colt International (Booth No. 6237) has made its initial entry into the aviation insurance business with the launch of Colt Risk Management Services (CRMS). Based on its experience working with more than 4,000 flight departments and operators, the company plans to provide custom coverage solutions for any aviation company.
Here’s a short story that relates, I think, to the plight of the business jet.