Main news

The US market is trending just a fraction below last year, with weakness in corporate flight departments, whilst fractional operations continue to hit peaks. The popularity of fractional programs is particularly evident in transatlantic visits to Europe this summer, catalysed by the Olympics. Within Europe, US visitors have driven spikes in activity since the start of the Olympics, demand starting to taper off in France this week but still very strong in the UK.

Gulfstream Aerospace Corp. announced the all-new Gulfstream G400 successfully completed its first flight, officially launching the flight test program and further expanding Gulfstream’s ultramodern, high-technology family of next-generation aircraft. The G400 defines a new standard with the highest performance and greatest comfort ever experienced in this segment.

The importance of the leisure market in Europe is conspicuous this month as the Olympics sees a surge in high-end European tourists. The US market has had a weak start in August, also true of the main business jet destinations in Asia and Africa.

Textron Aviation announced that it has delivered the 400th Cessna Citation Latitude business jet to longtime Citation customer Simmons Foods, a family-owned and operated company since 1949, of Siloam Springs, Arkansas. Simmons Foods will utilize the new aircraft to enhance the efficiency of its company’s business travel, complementing its existing fleet of three Citation jets that are integral to managing operations across multiple locations.

The bizjet market´s bright spot this summer is Europe, with the Olympics drawing record numbers of private jet movements to France, the UK also enjoying the influx of sports fans into the region. Bizjet demand in the US seems to have hit the brakes in the last couple of weeks, having had a relatively strong July.

As predicted, the Olympics venues have attracted business jet arrivals from all over the world as dignitaries, heads of corporations and celebrities flocked to the opening ceremony and sporting events. The Olympics appears to be very popular with US visitors, many coming via the UK. The Olympics bounce is helping the market recover from a relatively weak H124, with year-to-date trends now flat compared to last year.

International Aircraft Dealers Association (IADA) members reported a balanced market for preowned business aircraft in the second quarter of 2024. Sales are steady and values of late model aircraft remain strong, according to IADA’s Second Quarter 2024 Market Report.

In Week 28 (8th – 14th July), total global business jet departures were down 2% compared to Week 28 in 2023, equal to the last 4-week trend of 2% decline. Global Part135 & 91K activity on par with W28 in 2023, the 4-week trend 1% ahead of last year. So far this year the global bizjet fleet has flown just under 3.2 million flight hours, 2% fewer than last year. Across the 15,600 active operators there have 25,000 active business jets flying from January 1st through to July 14th. The global bizjet fleet has had a fair start to July, departures flown just -0.5% behind comparable July last year.

Week 27 2024 almost exactly matched Week 27 2023, with variable geographic trends, the US seeing a bump up, in contrast to declines in June, and was especially strong in Part 135 and 91K operations, most notably in Texas. Europe saw a 3% slide, mainly in private and corporate activity. Germany and the UK are seeing stronger YOY activity, tied directly to the draw of major sporting events.

The new sanctions package approved by the European Union on June 24 for the first time specifically targets Russia’s business aviation sector, but the industry seems to have adapted to the wartime restrictions since 2022.

The first half of 2024 shows bizjet utilisation tapering slightly on 2023 but still well up on 2019. The US market is just 1% weaker than last year, with Florida, super midsize jets, and Fractional ops looking robust. European bizjet demand is strengthening this summer, notably in Germany. The Middle East is seeing weaker bizjet usage this year, especially in Saudi.

In Week 25 (17th – 23rd June), total global business jet activity measured by number of sectors flown fell 4% compared to Week 25 in 2023, compared to the last 4-week trend of 2% decline. Part 135 & 91K bizjet activity in week 25 fell 3% compared to last year. Year to date 2024, bizjet sectors have fallen 1.4% compared to last year, with flight hours falling 1.9% behind. Respectively for sectors and hours flown, the market is 2.8% and 3.4% behind comparable 2022. The active bizjet fleet this year is 2.5% larger than in 2023, up 8% on 2022.

Textron Aviation announced the successful flight of its second Cessna Citation Ascend flight test article (P1) as certification momentum builds for the newest Citation business jet. The milestone flight follows the Ascend prototype, which completed its first flight in 2023 marking the P1 aircraft the first conforming production flight test aircraft. The Citation Ascend business jet was unveiled during the 2023 European Business Aviation Convention & Exhibition (EBACE), and the aircraft is expected to enter into service in 2025.

Despite the slowest start to June in the last 2 years, US bizjet activity remains robust, with activity significantly ahead of comparable June 2019. In contrast, the European summer is looking weaker, with just a 3% foothold over June 5 years ago. The D-Day anniversary lifted business jet arrivals into airports in the Normandy region of France. At the start of the party season in Ibiza there is a noticeable absence of bizjets from France and the United Kingdom.

Bombardier Defense announced that German automobile association, Allgemeiner Deutscher Automobil-Club (ADAC SE), has placed an order for a Bombardier Challenger 650 aircraft through its daughter company Aero-Dienst. The aircraft will be configured as a dedicated air ambulance for Aero-Dienst, ADAC’s main aircraft operator, and is scheduled for delivery in 2026. The aircraft will be used to provide medical transportation to ADAC’s customers around the world. With the signing of this agreement, Bombardier Defense continues to expand its footprint in Germany and on the European continent.  

Global bizjet activity was flat in week 22, as it was for the month of May, and is trailing 2023 by just 1%, which very much reflects the mood at EBACE, tending towards normalisation after the turbulence of the post-Covid years. There is a good deal of underlying variability, with Europe a 7% above 2019, demand still hot in the Mediterranean, but tapering well below 2019 levels in Central Europe.

Textron Aviation announced that the 400th Cessna Citation Latitude business jet has rolled out of production at the company’s factory in Wichita, Kansas, and is expected to be delivered later this year. Employees recognized the milestone with a special celebration at the company’s headquarters in Wichita.

Business aircraft are spending less time for sale than ever before, according to the latest edition of the Pre-Owned Business Jet Market Forecast by Jetcraft, the global leader in business aircraft sales, acquisitions and trades.

This week saw a marked drop-in flight activity in some key geographies, notably California, Germany, Saudi Arabia, China and Morocco. It was notable that the blue riband event for European bizav, the Monaco Grand Prix, drew 15% fewer bizjet visits than in 2019.

The General Aviation Manufacturers Association (GAMA) published the First Quarter 2024 General Aviation Aircraft Shipment and Billing Report. The results for the first three months of 2024 when compared to the same period in 2023, show deliveries were flat for piston airplanes and piston helicopters, decreased for turboprops and turbine helicopters, and increased for business jets. Total aircraft billings were up 3.2% at $4.7 billion.