JSSI: bizav at highest level since 2008
According to Jet Support Services, Inc. (JSSI)’s latest business aviation index ,average flight hours have reached levels not seen since the economic downturn of 2008.
The Chicago, IL-headquartered maintenance services provider tracks utilization of approximately 2,000 business aircraft worldwide, and its numbers for Q3-2017 followed a steady increase in flight activity throughout the year and was the most active period in 2017.
“Average flight hours increased 4.5% year-to-date (YTD) and key regional markets around the world, including Asia, Africa and South America, also reported strong year-to-date flight hour activity,” the report reads.
“The summer months are consistently the strongest period of the year for flight activity,” further explained JSSI President & CEO Neil W. Book. “Our Business Aviation Index has now shown a year-over-year increase in third-quarter flight activity for five consecutive years – encouraging signs that companies are leveraging corporate jets to conduct business around the world. It’s also promising to see such growth in regional diversity coming from markets outside North America and Europe.”
Additional key findings of the Q3-2017 JSSI bizav index included:
- Overall flight hours increased 4.5% year-to-date and 2.4% year-over-year since the third quarter of 2016.
- Average aircraft utilization of 29.11 hours in the third quarter represents the highest level since flight hours averaged over 30 hours in late 2008.
- When broken down by industry, the largest increases across nine industries were seen in the aviation and manufacturing industries, with quarter-over-quarter increases of 8.3% and 6% respectively. There was a 12.7% decrease in the consumer goods industry and an 8% decrease in the real estate sector.
- Of the seven regions tracked in the index, only North America showed a decrease in aircraft utilization quarter-over-quarter, with a 0.9% drop in flight hours. Activity in South America increased by 8.3% and Asia-Pacific by 8.6%.
- All regions increased flight hours year-over-year, with the exception of the Middle East and Europe. South America increased 7.1%, Central America increased 8.6% , and Africa reported the largest increase at 33.2%.
- Flight activity in North America increased 5.1% year-to-date, with an increase of 1.6% year-over-year.