Today, London hosts one of the world’s biggest private jet conferences (Corporate Jet Investor Conference, at The Landmark Hotel) where over 550 senior business aviation executives will attend – this is 25% higher than the number that attended the same conference last year.
To support the conference we have new research conducted amongst business aviation executives who are very upbeat about their sector – partly because of a ‘tax break’ for private jet owners in President Trumps recently approved Tax Bill.
Key findings from the research include:
· 77% of business aviation professionals see the Trump Presidency as a positive force for the business aviation sector – with one in four describing it as ‘very positive’.
· 83% of the 103 business aviation professionals interviewed predict an increase in the number of business aircraft flights this year compared to 2017.
· When it comes to the delivery of new corporate aircraft, over 60% believe more will be delivered this year than in 2017, and there will be a bigger focus on larger more expensive jets than the smaller ones.
· Over half (52%) expect to see an increase in the delivery of medium sized jets, and 40% anticipate an increase in the number of ‘heavy’ jets delivered. The corresponding figures for light jets and very light jets are 21% and 10% respectively.
· When asked why they expected to see an increase in the delivery of new business aircraft, 58% said because they expect global economic growth to increase in 2018 – this is closely correlated to increase demand for business aviation.
· The next most commonly given factor is new tax changes, cited by 50%. The US Republican Tax Bill that recently passed the Senate allows corporate buyers to immediately expense new and pre-owned business jets.
· Just over one in four of those interviewed (26%) said that new models of aircraft that have recently launched will lead to more people looking to ‘upgrade’ to these and sell their existing jets.