It has been two years since the economy went south, dragging business aviation right behind, and a year-and-a-half since a panel of “top economists” formed by the non-profit National Bureau of Economic Research (NBER) declared the recession over as of June 2009.
The U.S. will lead the recovery of the currently ailing business aviation industry, according to Sparta, N.J.-based consulting firm Brian Foley Associates. “This is good news since this region has always been the industry’s biggest market, accounting for 64 percent of the active worldwide business jet fleet,” noted company president Brian Foley. The recession and slowdown began in the U.S.
A wide-ranging coalition of aviation interests that includes both general aviation and the nation’s airlines has proposed a $4 billion stimulus package that could–among other things–accelerate the Next Generation Air Transportation System (NextGen) by creating 100-percent government-funded grants to retrofit both commercial and GA aircraft with NextGen equipment such as on-board avionics, electronic flight bags, cockpit displays, surface movin
Sparta, N.J.-based business aviation consultancy Brian Foley Associates today said it believes the recovery of the business jet market will be sooner than previous estimates, despite “being nowhere near the bottom” of the current market cycle. “It’s hard to think recovery in this environment, but there’s reason to believe that we may come out of this a little sooner than widely expected,” noted company president Brian Foley.
Sparta, N.J.-based Brian Foley Associates, a consultant for investors entering into business aviation ventures, asserts that the outlooks of OEMs and other forecasters are overly optimistic. “The next delivery trough will be more pronounced than generally accepted and the recovery much longer,” noted president Brian Foley.
Changes to the FAA’s investigative and enforcement procedures (FAR Part 13) including inflation adjustments to civil monetary penalties–became effective June 15. The adjustments typically do not exceed 2 percent. The rule also includes references to additional and revised statutes.
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