CHICAGO, Feb. 11, 2019 -- Jet Support Services, Inc. (JSSI), the leading independent provider of maintenance support and financial services to the aviation industry, has released the JSSI Business Aviation Index for the fourth quarter of 2018 and reports year-to-date growth of 4.9 percent and an increase of 4.7 percent over the same period in 2017. The index tracks utilization of approximately 2,000 business aircraft worldwide and reports average flight hours flown on a monthly basis by region, industry and cabin type.
“Despite the dramatic market swings that defined the end of the year, flight hours were up significantly for both the quarter and the year, contributing to 2018 being one of the strongest years in a decade,” said Neil W. Book, president and CEO of JSSI. “We have seen flight activity increase worldwide and a growing demand for private travel.”
The JSSI Business Aviation Index tracks and reports on the global flight activity and utilization of business aircraft, 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. This utilization data ultimately provides early indicators and useful insights into the state of global economic conditions.
Key findings include:
Marj Rose, MarketLift
Tom Morton, JSSI