INDUSTRY UPDATE
"A significant overhang of used business jets are still available at attractive prices, demand remains anaemic and backlogs continue to decline," says the latest industry report from JP Morgan North American Equity Research aerospace analyst Joseph Nadol. He says there are reasons for optimism, however, as global corporate profits - which are indelibly linked to business aircraft deliveries - were up an estimated 46% in 2010. Furthermore, used inventories have trended down gradually since mid-2009, but remain at a level identical to the 2001 peak.
ANGEL SOARS
Corporate Angel Network flew a record 3,021 cancer patients last year to specialised treatment - a 9% increase over the previous record of 2,778 and 21% more than in 2009. The charity typically carries between 200 and 250 cancer patients a month using empty seats on participating corporate and fractional aircraft and has arranged more than 36,000 flights since it was founded in 1981. Executive director Peter Fleiss says the latest record "demonstrates the interest major corporations have in supporting cancer patients even during challenging times when flights were being cut back".
Source: Flight International
