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JSSI reports on Bizav trends Q3

The index produced by Jet Support Services (JSSI) tracks utilization of approximately 2,000 business aircraft worldwide and reports average flight hours flown on a monthly basis by region, industry and cabin type. For the second consecutive quarter, JSSI found average flight hours exceeded the 30-hour ceiling and reached levels not seen since 2008.

“This positive trend in aircraft utilization demonstrates a high level of confidence in current economic conditions. The continued growth this year, with back-to-back quarters of flight hour averages not seen since 2008 and a year-over-year increase of 5.7 per cent, is a testament to today’s demand for private travel,” said Neil Book, president and CEO of JSSI.

Key findings from the JSSI Business Aviation Index for the third-quarter data include:

• Average aircraft utilization of 30.34 hours for the third quarter is the first time that flight activity has averaged over 30 hours in back-to-back quarters in more than a decade;

• The helicopter industry continues to rebound in 2018, with a 21.9 per cent increase in average flight hours in the third quarter;

• Of the nine industries analyzed, six reported an increase and three reported a decrease in quarter-over-quarter flight activity. The largest growth was in the healthcare sector, which reported a 7.9 per cent increase in flight activity compared to the second quarter of 2018.

• The construction industry reported an increase of 4.0 per cent; the business services sector reported an increase of 2.6 per cent; the power and energy segment increased by 2.3 per cent; and the aviation sector saw a flight activity increase of 1.7 per cent this quarter. The financial services industry increased by 1.6 per cent;

• The largest year-over-year decreases in flight activity were seen in the manufacturing sector, with an 11.8 per cent reduction; and in the real estate sector, which reported a decrease of 9.9 per cent. The consumer goods industry remained relatively flat for the quarter, with a decrease of 1.0 per cent from the second quarter but an increase of 6.0 per cent year over year;

• Seven key regions are sampled in the index. Significant quarter-over-quarter increases were reported in the Middle East, with a 39.4 per cent increase in average flight hours; and Africa, which reversed its negative trend for the year with a 37.6 per cent increase. South America also experienced an 11.4 per cent increase for the quarter;

• Regional quarter-over-quarter decreases were seen in Central America, with a drop in average flight hours of 15.7 per cent; Asia-Pacific decreased by 8.7 per cent, and Europe ended the quarter with a 1.4 per cent decrease;

• North America flight hours increased 1.6 per cent quarter over quarter and 6.8 per cent year over year; and

• Average flight hours increased 5.7 per cent year over year.