JSSI: 2017 will be good for bizav
The report shows an overall increase in global business flight activity compared with Q4-2016. “Average utilization of aircraft in Q1-2017 represented the highest level of flight activity for any Q1 since 2008,” the report further reads. “This has been one of the strongest starts to the year we have seen in almost a decade,” confirms JSSI President & CEO Neil W. Book. “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 (APAC), we are optimistic 2017 will be a good year for the business aviation industry.”
JSSI’s index tracks and reports on the flight activity and utilization of close to 2,000 business aircraft worldwide. The index tracks flight hours for business aircraft by global region, industry and cabin type, providing insights into the state of global economic conditions.
Key findings include:
- Overall flight hours have increased 1.6% since the end of 2016 and increased 4.4% this year, when compared with Q1-2016. Average aircraft utilization of 22.47 hours in Q1-2017 was the highest for the first three months of the year since 2008.
- In regional flight activity, the two largest increases since the Q4-2016 were 13% in the Middle East and 5.7% in Asia-Pacific. The largest decrease was 6.6% in the Central American region.
- In year-over-year (YOY) comparisons, Q1-2017 was strong across most regions. APAC aircraft utilization reached its highest level since 2012, with 27.31 average flight hours representing a 24% YOY increase. APAC has seen a steady increase in activity each quarter since early 2016.
- Flight activity in North America was moderately strong in the first quarter of 2017, with increases of 3% quarter-over-quarter (QOQ) and 6.7% YOY. Although there have been no major changes that would affect business aviation under the new presidential administration, there continues to be a particularly strong business environment in North America.