As 2023 winds down, the U.S. economy—responsible for 65 to 70 percent of the global business aviation market—continues to show surprising resiliency. Despite the conflicts in Ukraine and Israel and other challenges, inflation is declining, stocks are up, and unemployment is low.
Granted, anything can happen and by no means is the U.S. economy in a state where we should be uncorking the champagne. Still, as of this writing, things are looking pretty good.
The Covid Phenomenon
Back when the Covid pandemic was raging, I had more than one conversation with fellow executives in our industry about whether we would even be in business 12 months hence. As it turns out, though, we have done much more than merely survive. Our industry has grown at an unprecedented rate over the past few years, largely because the pandemic has led many people to try private and corporate aviation for the first time.
Of course, not all these people have stuck with it but many have, and they have had a direct impact on the supply/demand equation. That’s the very good news. The bad news is that supply-chain issues and certification holdups continue to hound our industry and, as a result, some new business jets that have been purchased and paid for may not be delivered during this calendar year. Nevertheless, around 800 new business jets should be delivered in 2023 and again in 2024. Our industry is approaching a new year with as strong a foundation as I can remember.
AIN’s Solid Year
Last year, AIN celebrated its 50th anniversary. We simultaneously announced that we’d elected to keep AIN Media Group as a family--held enterprise and would seek a non-family executive to lead the company to its next level of growth.
We found that executive earlier this year in Ruben Kempeneer, who now serves as president of AIN Media Group. Ruben, formerly with Cirium, has extensive experience in both media and aviation and is doing a fantastic job.
I have never felt more comfortable with our company’s direction and leadership. We are poised to strengthen our position in the market and will continue to focus on the goal that has gotten AIN to where it is today: being the most accurate, valued, and trusted source of news and information for the business aviation industry.
Proven Products
We continue to invest in our print and digital show daily properties, which are published at every major business aviation event worldwide and remain the leading journalistic products of their kind. We also continue to strengthen the monthly print editions of Aviation International News, which is a magnificent vehicle for branding purposes.
Probably one of the most successful digital newsletters in any industry is AINalerts. The entire global business aviation community—operators and users as well as manufacturers and suppliers—reads it every single workday. And now on Saturdays, as well.
We also continue to enhance Business Jet Traveler, whose website, biweekly Waypoints newsletter, and annual printed Buyers’ Guide serve passengers and aircraft owners who fly privately.
Finally, we are thrilled with our two-year-old Corporate Aviation Leadership Summit (CALS) programs. Otherwise known as hosted buyer events, these are intimate, powerful two-day gatherings where the business aviation users and operators we invite meet one-on-one with corporate sponsors. We are humbled by the success of this new offering.
Challenges Remain
Climate change and the environmental movement will continue to be a challenge for every one of us in business aviation. The industry is making great strides in this area with everything from sustainable aviation fuel (SAF) to more--energy-efficient FBOs and the development of electric aircraft. As protests by climate activists remind us, though, we need to do a better job of educating the public about these innovations as well as about the important ways business aviation benefits our economies and lives.
Like every flight, our industry will always experience some turbulence. That said, I predict overall smooth sailing and clear skies for the foreseeable future.
Climbing Fast with AIN
How are we already writing year-end reports? It seems only yesterday that I was sharing my first 90-day plan with the board after being appointed president of AIN Media Group in mid-January!
As I have gotten to know AIN’s staff, readers, advertisers, and partners, I’m more convinced than ever that our industry is a people-driven business. Much of the talk this year has been about artificial intelligence (AI) and whether it will decimate white-collar jobs the way automation fundamentally changed blue-collar occupations. My take? AI, like all technological leaps forward, has the potential to transform our industry and replace mundane processes, but there will always be a place for human ingenuity, creativity, and ambition.
We have recently returned from a fantastically attended and well-organized NBAA-BACE, and it’s clear from my dozens of conversations there that the people who drive this industry forward are continuing to tackle challenges with persistence and skill. They’ll keep forging ahead and, in the words of NBAA president and CEO Ed Bolen, will be “Climbing. Fast.”
As we move into a transformative year for AIN, I want to thank you, our readers, sponsors, advertisers, event attendees, industry friends, and partners for your loyalty and support. I am excited about what we will continue to achieve together.
Finally, I’m grateful to the Leach family for giving me the opportunity to lead this tremendous company and its outstanding people.
Ruben Kempeneer
President, AIN Media Group