Jet Support Services, Inc. (JSSI), the world’s leading independent provider of maintenance support and financial services to the business aviation industry, has released its latest Business Aviation Index for the third quarter of 2017. According to the index, which tracks utilization of approximately 2,000 business aircraft worldwide, average flight hours have reached levels not seen since the economic downturn of 2008.
The third quarter follows a steady increase in flight activity throughout the year and was the most active period in 2017. Average flight hours increased 4.5 percent year-to-date and key regional markets around the world, including Asia, Africa and South America, also reported strong year-to-date flight hour activity.
“The summer months are consistently the strongest period of the year for flight activity. Our Business Aviation Index has now shown a year-over-year increase in third-quarter flight activity for five consecutive years,” said Neil W. Book, president and chief executive officer of JSSI. “These are encouraging signs that companies are leveraging corporate jets to conduct business around the world. It’s also promising to see such growth in regional diversity coming from markets outside North America and Europe.”
The JSSI Business Aviation Index tracks and reports on the global flight activity and utilization of business aircraft worldwide, including jets, turboprops and helicopters. Unlike commercial aviation, which is largely driven by consumer spending, business aviation is a tool needed for efficient travel to conduct core business activities. The report calculates the average flight hours flown per aircraft on a monthly basis and organizes this data by global region, industry and cabin type. This ultimately provides useful insights into the state of global economic conditions.
Key findings in the third-quarter data include: