While the so-called exogenous shock of the Covid-19 pandemic has affected Boeing’s Commercial Market Outlook for 2020 by virtually every measure, company forecasters see the 20-year market for commercial airplanes recovering to within about 5 percent of the trend the CMO predicted last year. The relatively optimistic view assumes that traffic won’t return to its previous trendline until after five years, however, suggesting a far greater difference in the company’s forecast for the next decade.
The Coronavirus impact on the aviation Industry
Oct 6, 2020 - 10:32 AM
The International Air Transport Association on Tuesday sounded another alarm about the world’s airlines’ ability to overcome accelerating cash burn, estimated now to total $77 billion during the second half of the year. According to IATA chief economist Brian Pearce, the median airline can operate for roughly 8.5 months with the cash it controls, a rapidly eroding position that marks only a modest improvement over the period before governments injected their first tranche of aid.
Oct 6, 2020 - 9:00 AM
In the wake of a turbulent 2020, which has already left much of the aviation industry shaken, aircraft systems manufacturer Honeywell, in its 29th annual Global Business Aviation Outlook, noted some slight retrenching from last year’s forecast. Nonetheless, it ultimately concluded that the market remains optimistic and prepared to ride out any near-term Covid pandemic headwinds.
Oct 5, 2020 - 11:38 AM
While NBAA decided against in-person large gatherings for the remainder of the year out of precaution during the Covid pandemic, the association is rolling out its first-ever immersive online business aviation trade show, the Virtual Business Aviation Convention & Exhibition (VBACE), on December 2 and 3.
Oct 5, 2020 - 11:36 AM
Bombardier is hosting guided, online tours this week of its newest models beginning today as a means to reach out to customers who might otherwise have no access because of the Covid-19 pandemic. The online visits feature the Learjet 75 Liberty, Challenger 350, and Global 6500 and 7500.
Oct 5, 2020 - 9:46 AM
AirAsia Japan ceased operations on Monday, after parent company AirAsia Group reached a decision to stem its losses due to Covid-19 effects. The smallest of AirAsia’s subsidiaries, AirAsia Japan has seen operations shrink to an unsustainable level since the onset of the pandemic early this year, as travel restrictions and the uncertainties they have created prompted the airline to severely curtain operations and ground aircraft.
Since its incorporation in July 2014, the Company operated domestic and international flights from its base in Chubu Centrair International Airport.
Oct 2, 2020 - 12:43 PM
I really won’t be able to count the raised hands as you read this, but if you keep a little scorecard of how many times you raise your hand as you read, I think it will give you a new perspective of what we in the business aviation industry are all going through during these strange Covid times.
Raise your hand if you believe that your opportunity to talk to people about business aviation—in the course of daily conversations—has increased over the last couple of months. Raise your hand if you believe that demand is increasing for people really wanting to buy a business aircraft for the first time.
Raise your hand if you believe that rising demand will affect the price of business aircraft upwards. Raise your hand if you believe that once we start to really gain traction in reopening the economy, the phenomenon of the first-time buyer coming into our market will settle back to a more normal ratio.
Raise your hand if you would like to have an indoor dinner party; get on an airplane and go to some exotic trip with your best traveling friends or family; go to your favorite restaurant; and hug your children and grandchildren!
Now add up your score and analyze the answers, and write me at jay@jetsales.com. I will report to the readership everyone’s scores next month.
Oct 2, 2020 - 11:59 AM
As the U.S. Congress approved a stopgap bill to extend funding for government agencies, including the FAA, through December 11, lawmakers took an unusual step of moving $14 billion out of the federal treasury general funds into the Airport and Airway Trust Fund. The funding will help keep the trust fund liquid as it was in danger of depletion as an unintended consequence of the CARES Act and the ongoing dampened travel in general from the Covid-19 crisis.
Oct 1, 2020 - 9:58 AM
The U.S. Congress’s failure to pass an extension of the Coronavirus Aid, Relief, and Economic Security (CARES) Act will result in the involuntary furlough of about 32,000 employees at United and American Airlines starting Thursday.
Sep 30, 2020 - 11:12 AM
With the cancellation of this year’s NBAA-BACE, the Corporate Angel Network (CAN) has moved one of its hallmark fundraisers, the Fund an Angel auction, online. CAN typically holds the auction in tandem with the annual Fund an Angel event on the second night of the NBAA convention and exhibition.
