Latest News
HomeRegional NewsAfricaA global business indicator: Business aviation picks up In 2014
Business travel

A global business indicator: Business aviation picks up In 2014

JSSI Business Aviation Index indicates global market growth with flight activity up from 2013. Real Estate led the way with double digit growth in the last quarter (10.8%) while the Aviation Industry had the strongest gains for the year (4.4%.).

CHICAGO – Jet Support Services, Inc. (JSSI) has released its 2014 Business Aviation Index, which tracks flight hours for business aircraft by region, industry and cabin type. According to JSSI’s 2014 Business Aviation Index, flight hours increased by 1.2% globally. With declining fuel prices taking hold, flight hours increased by 2.5% in Q4, compared with flight hours for Q4 2013.

“While the pace of the US economic recovery gained steam, an economic slowdown throughout the world certainly had an impact on flight hours,” said Neil W. Book, President and Chief Executive Officer of JSSI. “There were still some bright spots worth noting, where we saw solid growth in the real estate industry and business jet charter. Solid charter numbers are promising, because they represent business jet usage across a wide range of industries.  Regionally, the North American market remained consistent with the prior year, but Europe and the Middle East saw nearly 10% growth between 2013 and 2014.”

JSSI Index: By Industry
While overall flight hours grew at a slower pace than the last few years, by industry, Real Estate led the way with double digit growth in the last quarter (10.8%) while the Aviation Industry had the strongest gains for the year (4.4%.) Conversely, Manufacturing (-13.7%) and Construction (-6.9%) contracted significantly in 2014.

Industry

Quarter-over-
Quarter

YTD 2014 vs
YTD 2013

Aviation

-0.5%

4.4%

Business Services

7.2%

-5.1%

Construction

-4.3%

-6.9%

Consumer Goods

-11.0%

-1.7%

Financial Services

-0.2%

-0.5%

Healthcare

-19.5%

0.8%

Manufacturing

-.4%

-13.7%

Power & Energy

-8.7%

-3.9%

Real Estate

10.8%

4.1%

JSSI Index: By Region
When looking at the data by region, Business Aviation experienced growth from Q3 to Q4 in only two markets – Central America and South America.

Region

Quarter-over-
Quarter

YTD 2014 vs
YTD 2013

Africa

-4.0%

-15.1%

Asia-Pacific

-2.6%

-4.3%

Central America

6.9%

-4.3%

Europe

-9.4%

9.1%

Middle East

-9.0%

9.1%

North America

-0.9%

0.1%

South America

6.2%

5.0%

Book continued, “Due to the cyclical nature of business travel, the fourth quarter is often less active than the third quarter. Therefore, it is very encouraging to see quarter over quarter growth in Central and South America.”

JSSI Index: By Aircraft Type
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 annual data on helicopter usage:

Aircraft Type

Quarter-over-
Quarter

YTD 2014 vs
YTD 2013

Helicopter

-26.4%

3.2%

Large Cabin

-0.7

4.6%

Medium Cabin

3.6%

-0.3%

Small Cabin

-4.1%

-0.6%

“It is a good sign to see the strong growth in the large cabin sector. This is an excellent indicator that the large corporate flight departments are using their aircraft for business all over the world. With the decline in the cost of fuel, coupled with less negative rhetoric toward the business aviation community coming out of Washington, we are very optimistic for a strong 2015,” continued Mr. Book.

News Editor - TravelDailyNews Media Network | + Posts

Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.

She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.

28/03/2024
27/03/2024
26/03/2024
25/03/2024
22/03/2024
21/03/2024