The number of used business jets for sale in July totals 1,829, up 1% from 1,803 a year ago, while average list prices are down 9%, according to Jefferies.
Business aviation activity moved toward normal in late June following a bumpy period caused by the coronavirus pandemic, with small jet and turboprop utilization in June back to pre-COVID-19 levels, according to data from Aviation Week Network’s Intelligence and Data Services.
Nordic Aviation Capital’s (NAC) lenders have agreed to a debt standstill for the next six to 12 months, after 40% of the regional-aircraft lessor’s turnover was impacted by COVID-19.
The COVID-19 pandemic that forced the National Business Aviation Association to cancel its annual 2020 Business Aviation Conference and Exhibition is the latest in a series of event terminations this year for the organization that potentially involve millions of dollars in lost revenue.
In a change of senior leadership at Duncan Aviation, Jeff Lake, formerly Duncan Aviation’s chief operating officer at its Lincoln, Nebraska, facility, has assumed the role of president from Aaron Hilkemann, now Duncan’s part-time CEO and chairman of Duncan Aviation’s board of advisors.
Recovery in business aviation activity is being led by the U.S., with the country’s business jet and turboprop activity during the two weeks leading up to July 9 at 85% of the normal levels for the period, according to data from WingX.
Jet Linx Aviation has acquired Meridian’s aircraft management and air charter business based at Teterboro Airport in New Jersey, which includes 23 long-range and short-range business aircraft.
The National Business Aviation Association (NBAA) has launched a new effort to help the business aviation industry get back to work following the effects of the COVID-19 pandemic.
Business aviation manufacturers are laying off employees although flight activity is “recovering smartly,” said Brian Foley, a consultant with Brian Foley Associates.
Machinists union members at Textron Aviation voted June 23 to reject the company’s request to open labor contract negotiations early as it adjusts to the impact of the COVID-19 pandemic.
With more than three months to go before opening day, the National Business Aviation Association plans to provide an update in early July on the NBAA Business Aviation Convention & Exhibition, the world’s largest business aviation show.
About 250 Textron Aviation employees received 60-day layoff notices June 23, including 70 in Wichita, as the company adjusts to the economic uncertainty brought on by the COVID-19 pandemic, the company told employees.
As Textron Aviation plans to restructure and reduce its workforce, company officials have asked the Machinists union to open contract negotiations early.
Flying privately eliminates as many as 680 “person-to-person touch points” rather than traveling by commercial airline—potentially reducing the chances of contracting the coronavirus leading to COVID-19, according to Colibri Aircraft, a London-based private jet broker.
Textron plans to lay off nearly 2,000 employees at its TRU Simulation + Training, Textron Aviation and Industrial divisions to cut operating expenses as it restructures in response to challenges from the COVID-19 pandemic, the company said in a Securities & Exchange filing June 18.
Magellan Jets, based in Boston, is adding two new pay-as-you-go membership programs to serve a wave of newcomers turning to private aviation as they grapple with the COVID-19 pandemic.
