“Will the overhang finally abate enough in 2011 to drive new [business jet] orders?” JP Morgan North American Equity Research aerospace analyst Joseph Nadol III asked in his firm’s latest monthly business jet report, released on Tuesday. Citing a “significant overhang” of pre-owned jets available at attractive prices, the report said business jet demand remains “anemic” while new aircraft backlogs continue to decline.
States and territories of India
Air Works India Engineering and Aircraft Paint and Refinishing UK have opened a line maintenance facility for the Airbus A320 at Trichy International Airport in Tiruchirapalli, India. Air Works AMRO vice president K. V. Krishnan told AIN, “The presence in Trichy was driven by our customer Tiger Airways’ requirements. We have technicians and qualified engineers for the A320 family.
Pilots across India will soon see the Shell Aviation sign going up for the first time at a number of airports as the international fuel supplier expands its presence from two airports to 12 in the country. Locations soon to welcome Shell Aviation service include Mumbai, Goa, Chennai, Calicut, Ahmedabad, Jaipur, Kochi, Thiruvananthapuram, Coimbatore and Mangalore. Shell currently operates at Bangalore and Hyderabad.
Ruag Aviation has delivered its first modernized 228NG twin turboprop to launch customer New Central Airservice. The delivery was made in late September, just a few weeks after the manufacturer received European certification for the aircraft.
Delhi International Airport Private Ltd (Dial) is seeking a partner to bid on building a new FBO, general aviation maintenance facility and hotel at Indira Gandhi International Airport in New Delhi.
Terminal T3 at New Delhi's Indira Gandhi International Airport (IGIA), one of the largest terminal buildings in the world and India's first integrated terminal (handling both domestic and international flights), will be inaugurated by India Prime Minister Dr. Manmohan Singh on July 3.
CAE and Bell Helicopter announced here yesterday that Bell is providing aircraft systems and performance data and technical support for the Bell 412 training programs that CAE will begin offering this summer in Mexico and Bangalore, India.
Ruag Aerospace says it is on track to complete certification and first delivery of its Do228NG in March. The company holds orders and options for 10 of the New Generation version of the Dornier 228 twin turboprop from customers in Japan, Mexico, Australia, Vietnam and Argentina. The first of the upgraded aircraft was rolled out at Ruag’s facility at Oberpfaffenhofen in southern Germany on November 12 and has been in flight test since then.
JPMorgan’s latest business jet monthly report, released yesterday, indicates that October was another month of modest improvement in aircraft demand and utilization. Further, pre-owned business jet inventories fell for the third straight month, “and the peak for this cycle now seems more firmly behind us, but they remain at very high absolute levels,” noted JPMorgan aerospace analyst Joseph Nadol III.
J.P. Morgan’s latest business jet report indicates “evidence of stabilization” in the business jet market “but no improvement.” According to the report, pre-owned business jet inventories remain at record highs–staying at about 14.5 percent of the in-service fleet for the fifth consecutive month–but have not gotten much worse. Pre-owned aircraft prices have continued “a steady downward march toward supply-demand equilibrium,” noted J.P.