Jet Support Services, Inc. (JSSI), the leading independent provider of maintenance support and financial services to the business aviation industry, has released the JSSI Business Aviation Index for the fourth quarter of 2017. The index, which tracks utilization of approximately 2,000 business aircraft worldwide, reports average flight hours in the fourth quarter of 2017 to be at the highest levels in a decade.
“Flight hour utilization is cyclical, with peak hours occurring over the busy summer months in the third quarter. On average, flight hours dip 4 percent in the fourth quarter; however, in 2017 we saw a decrease of just 0.4 percent during the same period,” said Neil W. Book, president and CEO of JSSI.
“Flight hour activity has always been a strong indicator of the overall health of the economy. The increase in average flight hours of 4.5 percent year to date indicates a continued strengthening of the global economy,” added Book.
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 region, industry and cabin type. This ultimately provides useful insights into the state of global economic conditions.