JSSI’s indicators show first quarter bizav growth
May 13, 2017
The latest report from Jet Support Services Inc (JSSI) is signalling favourable growth trends for the business aviation industry in 2017. In a news article published at the AINonline website on 8 May 2017, Chad Trautvetter reports that according to JSSI’s findings, “global business flight activity in the first three months represented the highest level of flight activity for any first quarter since 2008.”
There is a great deal of optimism that the positive trends in the business aviation industry will persist throughout the year. Business jet owners expect a surge of activity in both the operational and strategic fronts. To support this projection, Trautvetter cites JSSI’s statement that “flight hours in the first quarter increased 4.4 per cent year-over-year.”
The JSSI report shows that bizav’s first quarter growth trend was impacted by specific industry segments, including healthcare, business services and consumer goods. As Trautvetter reports, the JSSI index shows that the business services industry saw an activity increase of 8.2 per cent. The healthcare industry recorded a 7.5 per cent increase, and the consumer goods industry experienced a 5.3 per cent increase compared to the fourth quarter of 2016. However, some industries reported declines in passenger traffic, with the real estate industry experiencing the biggest fall. “The largest decrease was in the real estate sector, where flying sunk by 17 per cent,” states the AINonline article.
Trautvetter quotes Neil Book, JSSI’s President and CEO, as saying: “The significant increase in activity could be an indicator of positive sentiment among businesses concerning the overall economy. With continued strong growth in key regions such as Asia-Pacific and industries such as business services, we are optimistic 2017 will be a good year for the business aviation industry.”
As for the regional market, the Asia-Pacific region recorded the most impressive growth rates during the first quarter. Other regions, including North America, recorded moderate growth rates.