Business aviation continues to see strong growth
The Corporate Jet Investor event took place in London this week, where the business aviation community explored the current trends for the booming market, charting the developments for the coming year.
As noted by the event organisers, “a golden age for business aviation, driven by new entrants, particularly from high- and ultra-high net worth communities” dominated the first day of the conference. The sunny outlook was marred only by worries about geopolitical instability after the Russian invasion of Ukraine, and the event began with the launch of the Business Aviation Crisis Appeal for Ukraine, the organisers noted. “It’s very early in this tragedy and we don’t know what the outcome is going to be. Until [the impact becomes clear], it is important we stay focused on our business, the humanitarian side of things and do what we can to support the people of Ukraine,” commented business jet manufacturer Bombardier’s Bart Demosky.
Some of the key topics discussed as part of the agenda included living up to customer expectations, selling business jets in a booming market, the connected cabin, sustainability for the sector, and the ins and outs of a perfect maintenance programme.
Alex Fecteau, Boeing Business Jets Sales Director for Middle East, Africa, Mediterranean and Global Director of BBJ Marketing, gave his insight into current completion times in the large cabin market, revealing that the typical delivery time for a Boeing business jet is currently around 30 months.
Ford von Weise, Director and Global Head of Aircraft Finance at the Citi Private Bank, noted that the last two years have seen business aviation begin to emerge as its own asset class, with the pandemic creating opportunities for the business aviation industry.
Sustainability is certainly one of the hot topics for the business aviation sector, and several key players explored why the industry needs to focus on reducing emissions and how it can make a real difference, as opposed to greenwashing. For example, sustainable aviation fuel (SAF) is important in contributing into greener aviation but currently SAF is produced in limited locations globally and is often transported thousands of miles for delivery – which is not ideal as those miles add carbon emissions.
Regarding maintenance, GE Aviation’s Dennis Krause, Rolls-Royce’s Megha Bhatia, Pratt & Whitney Canada’s Delray Dobbins and Bombardier’s Guillaume Landrivon explored what should and should not be covered when designing a perfect maintenance programme.
Rolls-Royce’s Megha Bhatia, Vice President, Sales & Marketing, noted that when it comes to simplifying programmes, offering one comprehensive solution is key. “That means you have preventative, scheduled and unscheduled maintenance all covered,” she said.