Due to the recent economic trouble that has had the global economy in a constant choke-hold, the business jet market has seen a steep decline in the past year, but all that could be a page in our history of economic catastrophes, according recent data published in Wealth Bulletin.
Many analysts and bankers are stating that the business-jet market is currently showing signs of improvement.
The Business Jet Index of market conditions rose to 50 out of 100, showing a major improvement from the reported 13 that the Index showed back in November of 2008, according to the pub. UBS analysts stated that these gains are the reflection of customer interest in private aviation.
Jeff Miller, Vice President of Communications for Gulfstream Aerospace, told Stephen Pope of WB, “There is a general consensus in the industry, looking at all the available forecasts and surveys, that 2010 will be a bottoming year as growth returns to the market in 2011 and 2012.” If these predictions are accurate one main beneficiary would be Gulfstream Aerospace. With these trends in place Gulfstream plans on releasing the new G650.
The new G650 will make its debut in 2012, seating a total of 18 passengers, and with the ability to travel an incredible 7,000 nautical miles non-stop. That is equivalent to a non-stop flight from New York to Beijing, at “nearly the speed of sound”.
According to the article, banks are more willing to finance business-jet purchases and leases today than they were at this same time last year. Three cheers for the return of private aviation!
Source Wealth Bulletin