With the exception of Ukraine and Russia, improvements in European business aircraft movements are giving further hope that the industry is starting to stabilize there. According to Eurocontrol, flight movements improved 0.7 percent in 2014 and made gains in all but three months in the year, ending with December’s 1.7-percent year-over-year growth.

Eurocontrol reports data for Ukraine, which was down by 40 percent last year, but not Russia, which experienced 18 percent fewer flights in 2014, according to WingX Advance . In addition, Eurocontrol issues reports for certain African countries, including Egypt and Tunisa, both of which logged more business aircraft movements last year.

UK airports London Luton and Farnborough were among the greatest gainers, while traffic surged 32 percent in Finland, according to Eurocontrol's data. The improvements in flights, a key industry health metric, come as analysts have growing hope for an upturn in Europe. Honeywell’s most recent forecast saw stronger purchase expectations there. Industry analyst Brian Foley told attendees at the Transportation Research Board annual meeting yesterday that indicators are positive, even if Europe hasn’t enjoyed the upturn yet.

EBAA CEO Fabio Gamba said that while the traffic increase was small, “at least we’re talking about growth.” He predicted growth inching above 1 percent this year, assuming “nothing unforeseen,” such as possible deteriorating business conditions in Greece that could ripple throughout southern European states.