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Business jet industry is hoping for 2012 revival
THE business jet industry is expecting 2012 to mark its first year of growth in deliveries since the financial downturn, but more pain could still be ahead for the low end of the segment that has been hardest hit.
“2011 did not play out as we expected to see the growth and orders being placed, so we’re shifting our hopes to 2012,” said Jens Hennig, vice president of operations at the General Aviation Manufacturers Association, a Washington, DC-based international group that tracks noncommercial aviation.
Demand for business jets fell in 2009 after five years of growth, as companies cut down on spending after the financial crisis peaked and tighter credit made purchases difficult.