Chad is the editor of AINalerts, AIN's daily business aviation newsletter, and is also the news editor at AIN Media Group.&nbsp;He has been writing about aviation, with an emphasis on business aviation, since 1994. Chad started his writing career at The Avion,&nbsp;the&nbsp;student newspaper at Embry-Riddle Aeronautical University in Daytona Beach, Florida, serving as editor-in-chief before graduating with a bachelor's in aeronautical science. After a stint as managing editor at Professional Pilot&nbsp;magazine, he joined&nbsp;AIN in late 1998. Chad holds a commercial pilot certificated with instrument and multi-engine ratings, and he also is a CFI/CFII. He lives and works from his home in Venice, Florida.

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Chad Trautvetter

Stable demand for business jets combined with high backlogs at major OEMs and relatively low preowned inventory “should enable the industry to weather any potential economic downturns in the foreseeable future,” business jet financier Global Jet Capital (GJC) said in its <a href="https://www.globaljetcapital.com/q3mb-2023">third-quarter Business Aviation Market Brief</a>. “Within the business jet industry, flight operations were down compared to 2022 (but higher than pre-Covid levels), inventory levels climbed but remained below historical averages, and transactions declined from recent high levels.”
Though the global economy has been resilient year-to-date, GJC warned about headwinds such as wars in Ukraine and Israel, tightened monetary policy, slowing growth, and lower consumer confidence. On the positive side, it noted higher-than-expected job creation in the U.S., as well as strong retail spending and industrial production in China. Still, GJC believes a “mild and short-lived” recession is likely in the next 12 months.
According to the company, business aircraft flight operations fell 3 percent year-over-year in the third quarter but were 14 percent above third-quarter 2019 levels, “demonstrating sustained demand for business aviation.” It also noted book-to-bill ratios at business jet manufacturers remain above 1:1, “placing OEMs in a position to weather economic downturns.” GJC pointed out that preowned inventory, while climbing, is still below historical averages, with aircraft values holding up well despite a return to historical depreciation profiles.

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