CHICAGO, Oct. 29, 2020 – Business aviation flight hours rose 87.5% between Q2 and Q3 as flying resumed following the dramatic declines related to COVID-19, finds Jet Support Services, Inc. (JSSI), in its quarterly Business Aviation Index.
The Index reports on the global flight activity and utilization for more than 2,000 business aircraft enrolled on JSSI hourly cost maintenance programs, including jets, turboprops and helicopters. Since average flight hours reached all-time lows in April due to the COVID-19 pandemic, business aviation activity has recovered to 78.4% of 2019 levels.
As some of the pent-up travel demand was released, month-over-month flight activity between August and September 2020 climbed 7.1%, the first monthly increase in flying hours since Q3 2019.
“While this quarter reflects a welcome sign for business aviation, utilization is still down 21.6% year-over-year. I think we will see elevated leisure travel during the winter months, as tighter travel restrictions coupled with the virus resurgence will continue to inhibit business-related flight hours,” said Neil Book, president and CEO of JSSI.
JSSI’s data also reveals that several industries initially hit hardest by the coronavirus pandemic, such as business services and financial services, demonstrated the most significant recoveries in Q3, recording 84.3% and 111.4% increases in flying hours respectively, quarter-over-quarter.
Large aircraft have taken the biggest plunge globally, with year-over-year flight hours down 30.7%. In comparison, small-cabin aircraft saw the least pronounced decrease in activity, down just 2.1% from 2019 levels, reflecting their value during the pandemic, with new customers turning to business aviation to meet their travel demands.
“Since Q2, when the global impact of COVID-19 became clear and we saw record-breaking cuts to commercial flights, we have witnessed a staggered increase in flight hours, with North America outpacing other regions. During Q3, all geographies experienced an increase in business aviation flight hours, but the most acute rise was seen across Central and South America, with utilization up more than 169% and 146% quarter-over-quarter as travel restrictions began to ease.”
JSSI’s utilization data provides early indicators and useful insights into the state of global economic conditions, which is particularly relevant given the continuing COVID-19 situation.
ENDS
Contact Information:
Chiara Lawrance / Ali Gibson / Katie Edgerley
8020 Communications
+44 (0) 1483 447380
Tom Morton
JSSI
+1 312.644.8779
About Jet Support Services, Inc.
For more than 30 years, Jet Support Services, Inc. (JSSI), has been the leading independent provider of maintenance support and financial services to the business aviation industry. The company provides hourly cost maintenance programs to manage the often unpredictable costs of operating and maintaining virtually all makes and models of aircraft, engines and auxiliary power units (APUs). JSSI is responsible for maintaining in excess of 2,000 business jets, regional jets and helicopters across the globe and serves customers through an infrastructure of certified technical advisors.
JSSI’s portfolio of companies leverage its technical knowledge, experience, buying power and data to provide support at every stage of the aircraft life cycle; from aircraft acquisition to aircraft teardown and part out. Other JSSI services:
JSSI Parts & Leasing provides aircraft parts, leasing and supply chain solutions. From a single bolt to a complete engine, customers gain access to a vast inventory of aircraft parts, engines and APUs and a global vendor network to source assets for anything that flies. All backed by the buying power and expertise of one of the largest purchasers of parts and maintenance services in the aviation industry. For more information, visit jssiparts.com
JSSI Advisory Services utilizes JSSI’s technical expertise and global network to inspect aircraft, perform ASA-certified on-site and desktop appraisals, assist with maintenance cost planning, manage maintenance events, and provide insurance claims management. JSSI’s dedicated Asset Monitoring Platform (AMP), is available to aviation lenders as a tool to assist in the mitigation of risk and the management of financed aircraft.
Conklin & de Decker is a leader in aviation research, consulting and education. The mission of Conklin & de Decker is to enable the general aviation industry to make more informed decisions when dealing with the purchase, operation and disposition of aircraft by furnishing objective and impartial information.
