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A Global Business Indicator: 2013 Was a Good Year for Business Aviation

JSSI Business Aviation Index Indicates Global Market Growth with Flight Activity Up 4 Percent in 2013

CHICAGO, Feb. 27, 2014 /PRNewswire/ -- According to JSSI's 2013 year-end Business Aviation Index, global business aviation activity grew by 4 percent in 2013, surpassing the 2.9 percent growth that the IMF estimates took place in the world's GDP in 2013.

Jet Support Services, Inc. (JSSI), the world's leading provider of maintenance support and financial services to the business aviation industry, has released its 2013 year-end Business Aviation Index, which tracks the number of hours that business aircraft have flown by region, industry and aircraft type.

The Manufacturing, Power & Energy and Real Estate industries all posted impressive gains, while the Construction, Financial Services and Healthcare industries contracted.

JSSI Index: By Industry

Industry

Year-over-Year (calendar)

Quarter-over-Quarter

Construction

-13%

-16%

Financial Services

-9%

-9%

Healthcare

-1%

-7%

Manufacturing

+10%

+13%

Power & Energy

+29%

+2%

Real Estate

+6%

+62%

However, when looking at the data by region, business aviation experienced growth in virtually every market, both on an annual and quarterly basis.

"The global growth in flight hours is a positive indicator for the health of both the aviation industry and the economy as a whole. When viewed by region, the data is generally consistent with macroeconomic trends across the globe. Business aviation continues its strong rebound in the U.S., with 6 percent year-over-year growth and 7 percent quarter-over-quarter growth," said Neil Book, President & CEO, JSSI.

JSSI Index: By Region

Region

Year-over-Year

Quarter-over-Quarter

Asia

+22%

+24%

Europe

+12%

-13%

Latin America

-1%

+10%

Middle East/Africa

+25%

+3%

United States

+6%

+7%

"Although European flight hours were down from the third quarter, flight activity for our European-based clients is still up 12 percent over Q4 2012," said Mr. Book.

Emerging markets in Asia, the Middle East and Africa were up by over 20 percent since last year, while flight hours in Latin America remained flat.

Finally, observing business aviation activity by aircraft type provides insight as to exactly how the business community is flying. For the first time, the JSSI Business Aviation Index is releasing data on aircraft type usage:

JSSI Index: By Aircraft Type

Aircraft Type

Year-over-Year

Quarter-over-Quarter

Large Cabin

+7%

+6%

Medium Cabin

+5%

+10%

Small Cabin

+8%

-3%

Single Engine

+60%

+1%

"It is encouraging to see growth from single engine turboprops to large cabin aircraft. This tells us that businesses large and small, along with the owner/operator community, are flying their airplanes again. As the global economy has recovered, we initially saw hesitation from businesses to start flying again. We're now seeing this hesitation dissipate. It also doesn't hurt that the Obama administration's negative rhetoric toward the business aviation community has quieted somewhat in his second term. We look forward to seeing how the business aviation industry grows and evolves throughout 2014 and beyond both in the U.S. and around the globe," continued Mr. Book.

About Jet Support Services, Inc. 
Founded in 1989, JSSI is the only hourly cost maintenance provider covering virtually all makes and models of business aircraft, engines and APUs. 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
732.620.0033 / 214.862.8992
[email protected] / [email protected]

 

SOURCE Jet Support Services, Inc.

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