JSSI Index: Bizav Flying Up 4.3 Percent in 3Q

Business jet flight hours worldwide were up 4.3 percent in the third quarter and have reached 80.7 percent of the sector’s 2008 peak, according to the latest quarterly index, published yesterday, from Jet Support Services (JSSI). Year-over-year business jet flying is up in the light and midsize segments, climbing 8.2 percent and 3.7 percent, respectively, while large-cabin jet activity slid by 5 percent. Helicopter flying fell by 15 percent.

“Flight activity is, on the whole, indicative of volatility in the global business aviation markets,” said JSSI president and CEO Neil Book. “The decline in oil prices has had a negative effect on the helicopter sector, which supports offshore operations and flight hours in the Middle East. Stable economic conditions in North America and Europe are reflected in flight-hour growth. Despite this growth, third-quarter business aviation is still well behind 2008 levels.”

Business aircraft flying soared by double digits in Africa and Central America—up 12.5 percent and 12.9 percent, respectively, from a year ago—while North America saw a 1.7-percent gain. Growth was more moderate in Europe (0.5 percent) and Asia-Pacific (0.7 percent), while business aviation traffic dived in the Middle East (-12.1 percent) and Latin America (-9.7 percent).

The JSSI index also breaks down flight activity by industry. “Verticals” directly involved with the oil industry, namely the power/energy and consumer goods sectors, reduced third-quarter flight hours by 14.9 percent and 14.8 percent, respectively, year-over-year. However, flying by business services and construction companies “demonstrated encouraging double-digit growth,” rising 12 percent and 15.6 percent, respectively. Other industries in the positive column include manufacturing (1.7 percent), real estate (2.8 percent) and aviation (1.9 percent); those losing ground were financial services (-6.6 percent) and healthcare (-3.1 percent).