CHICAGO, Nov. 12, 2012 /PRNewswire/ -- As the United States continues to slowly recover from what many are calling the Great Recession, the business aviation industry can report it, too, is returning to health, with growth around the world in markets like Asia Pacific (+6.1 percent), Eastern Europe (+10.7 percent) and the Middle East (+3 percent).
Flight hours were not as strong for Europe or North America, with a dip of 4.4 percent and 1.6 percent respectively. Africa fared the worst with a loss of 16.9 percent.
JSSI, the world's leading provider of maintenance support and financial services to the business aviation industry, has released a quarterly, in-depth index that tracks the number of hours that business aircraft have flown, by region and aircraft type.
"Flight hours are a direct indicator of the overall health of the economy," said JSSI Co-President, Susan Marr. "It's not surprising that North America remained relatively flat, while growth markets like Asia Pacific and Eastern Europe continued with steady growth. The European economy is still very much hampered by the Euro Zone crisis, and our numbers reflect that."
In response to the growth in Asia, JSSI recently announced the opening of its Asian headquarters at the Hong Kong International Airport. The company has also forged a strategic partnership with China Business Aviation Group, China's leading provider of turnkey solutions for aircraft purchases and operations, in order to support JSSI's business development strategies throughout the region.
The business aviation industry has been a political hot button issue of late. But the industry itself, a $150 billion industry, is vital to a healthy U.S. economy. It allows companies large and small the ability to do business on a global scale while supporting more than 2.1 million middle class American jobs.
Annual #Flight Hour Growth
Region
2007-2008
2008-2009
2009-2010
2010-2011
2011-2012
Africa
15.70%
-4.10%
-8.00%
10.00%
-16.90%
Americas
8.20%
-11.90%
21.70%
25.20%
-0.60%
Asia Pacific
10.00%
-26.90%
-2.60%
49.90%
6.10%
Eastern Europe
70.90%
13.10%
-11.50%
14.60%
10.70%
Europe
6.70%
-21.20%
7.40%
-2.20%
-4.40%
Middle East
106.60%
-8.70%
4.60%
8.00%
3.00%
North America
-12.30%
-26.30%
16.40%
4.80%
-1.60%
Total
-3.30%
-22.10%
11.80%
5.90%
-2.00%
Annual % Growth by Aircraft
Size
2007-2008
2008-2009
2009-2010
2010-2011
2011-2012
Helicopter
19.85%
-12.46%
47.69%
-5.63%
25.22%
Large/Long Range
4.89%
-21.40%
17.45%
13.82%
8.15%
Mid-size
-4.42%
-24.26%
1.62%
-2.64%
-10.00%
Single/Turboprop
110.07%
17.58%
16.01%
0.17%
-14.82%
Small/Light
-9.00%
-25.64%
28.02%
-13.67%
-6.21%
Bizliner
-12.36%
144.98%
-1471.42%
-103.73%
0.42%
Total
-3.29%
-22.07%
11.77%
5.91%
-2.03%
About Jet Support Services, Inc.
Founded in 1989, JSSI is the world's leading provider of maintenance support and financial services to the business aviation industry. JSSI provides its customers with comprehensive, flexible and affordable financial tools for managing the often unpredictable costs of operating and maintaining nearly all types of turbine-powered aircraft, including jets, turbo-props and turbine- powered helicopters. JSSI serves customers globally and manages maintenance services through its worldwide infrastructure of certified technical advisors. For more information please visit www.jetsupport.com.
Contact:
Anne Donohoe / Marj Rose
212.896.1261 / 214.862.8992
[email protected] / [email protected]
SOURCE JSSI
