MARCH SLOWDOWN

Meanwhile, a report on business aviation departures in Europe in March this year saw a 4.1 per cent decline in year-on-year activity. There were 61,746 business aviation departures in March 2016, fewer than in March 2015. After the first quarter of 2016, activity is back by 2.2 per cent compared to last year. The biggest drop came in turboprop activity in March, down five per cent. Business jet activity declined by three per cent with charter flights most affected. In the last 12 months, business jet flights are trailing by one per cent and turboprops maintaining four per cent growth level.

The slowdown in March came mainly in Western Europe with all major markets apart from Italy witnessing decline. Germany had the largest drop in activity with year on year activity down eight per cent. In Germany for first quarter, it was down at five per cent, equivalent to 460 few flights a month. Flights within Europe were down four per cent in March and were at minus two per cent for the first quarter. Business aviation flight connections were up from the Middle East with inbound arrivals up 11 per cent in March and for first quarter it was plus five per cent.

However, the long-term prospects are bright considering that the number of billionaires grow by 41 per cent in 2013, up to 347 individuals, a figure close to North America which has 524 individuals. Almost one in five of all expected demand for new jets in the next five years will be from Europe. In the first three quarter of 2014, Europe accounted for 388 new aircraft deliveries.

The potential has to be tapped and this would be discussed at the upcoming European Business Aviation Convention and Exhibition (EBACE) event which has drawn a good number of exhibitors.