Q3 JSSI Business Aviation Index Indicates Slow, but Steady, Worldwide Growth
LAS VEGAS, Oct. 24, 2013 /PRNewswire/ -- (NBAA) -- The Business Aviation sector is showing a slow, but steady, growth year-over-year of flight hours of approximately 2 percent, according to the Q3 JSSI Business Aviation Index. The quarterly data shows more modest growth of 1 percent since Q2.
Jet Support Services, Inc. (JSSI), the world's leading provider of maintenance support and financial services to the business aviation industry, has released its quarterly in-depth index that tracks the number of hours that business aircraft have flown and monitors several key geographic and industry sectors.
"From a geographic standpoint, the fluctuation that we are seeing in Asia/Australia is particularly noteworthy," said Neil Book, President and CEO, JSSI. "Last quarter, the region was down precipitously both by quarter (13 percent) and year-over-year (23 percent). While it's still down year-over-year by 2 percent, we are seeing explosive quarterly growth of 29 percent. We are also seeing very steady and encouraging growth in all of the regions that we report, with the Middle East and Europe holding steady, both with a 14 percent quarterly growth rate respectively."
JSSI Index: By Region
The data broken up by industry sector also gleans interesting insights. While last quarter showed strong growth in the automotive and manufacturing sectors, this quarter shows a steep double-digit decline quarter-over-quarter. Government also shows a double-digit dip, which could be a result of the decline in government spending leading up to the recent shutdown. The Technology industry continues to report declining numbers, as does the Financial Services industry. Power and Energy remains the strongest sector this quarter, which seems to have been kept afloat by the boom in the production of oil and gas from shale through "fracking."
JSSI Index: By Sector
Power & Energy
"Our index has proven to be an economic indicator of the strength, or in some cases the weaknesses, of some key industries and regions all over the world. The bottom line is that when businesses are flying, they're not only demonstrating their own fiscal health, but they are also contributing to the world economy in comparison to other major international industries," added 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 Rose732.620.0033 / email@example.com / MRose@market-lift.com
In the same theme:
Daniel Hepworth new Head of Sales EuropeAndreas van de Kuil new Head of Sales Eastern Europe & CISDaniel Hepworth and Andreas van de Kuil have taken over new manag...
Lockheed Martin (NYSE: LMT) announced today that Jesus "Jay" Malave will be the company's next chief financial officer, effective immediately.Malave most...
Iberia has announced that at its board meeting held on 20 December last it agreed to appoint Ricardo Goizueta as member of the board of the airlineand of its pare...
The European Aviation Safety Agency (EASA) has in turn validated the modifications to the type certificate of the Boeing 737 MAX 8 in its 737-8200 version, or simply 7...
Boeing closed the books on a bruising 2020 by announcing another unpleasant surprise on Wednesday: a $6.5 billion hit from delays to its new 777X plane that exacerbat...
The European Union Aviation Safety Agency (EASA) and its UK counterpart on Wednesday cleared the Boeing 737 MAX to fly again in European skies, 22 months after the pl...