There is “uneven progress” toward recovery, JPMorgan said in its latest business jet market update.
Business aviation data provider JetNet is marking a decade of consecutive EBACE show appearances by demonstrating two new products here this week (Stand 232). Introduced earlier this year, the company’s Jetnet iQ advisory service is available to customers on a members-only basis and consists of three main components aimed at increasing clients’ industry awareness.
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.
Attractive pricing persists on many popular models despite a continued tightening of inventory to its lowest level since peaking less than two years ago.
Corporate aviation information provider JetNet (Booth No. 3621) is promoting its new CRM and iQ services. CRM (customer relationship management) is a Web-based contact management system for the company’s Evolution customers; iQ is a forecasting and “premium advisory service” for business aviation professionals.
Eclipse 500 air-taxi firm Linear Air on Friday announced new benefits for frequent-flier customers from Boston Hanscom Field and Westchester County Airport in White Plains, N.Y. The Concord, Mass.-based charter operator’s new “platinum service” program will be offered at no charge to customers who fly more than five trips from these airports.
The buying momentum that had been building during the fourth quarter of last year seems to be spilling into this year, as evidenced by a move lower in inventory to levels not seen in more than two years.
Sales transactions of pre-owned business jets and turboprops, as well as turbine helicopters, posted healthy increases from a year ago, according to data released by business aviation information firm JetNet. From January through October 31, business jet sales transactions climbed by 16 percent, followed by turbine helicopters (up 15.2 percent) and turboprops (up 4.5 percent).
CRS Jet Spares reports a 25-percent decrease in customer additional billings (billbacks) over the past 18 months as a result of its Option 2 pricing program.
When an operator needs a part, an exchange transaction is the common method of handling the purchase. The problem with that type of transaction is there’s the chance of a billback to the operator at a later date based upon the actual condition of the core.
Mike Delk has announced his retirement following 40 years leading Air BP Aviation Services (Booth No. 7903). In a release issued by Air BP, he said he intends to remain involved in the industry, but that he would like to spend more time with his family. Delk’s father bought what was the Valley Oil Company of Salem, Ore., in 1944, and later switched from producing home heating oil to avgas.