Aviation/Aerospace: Commercial And General Aviation Remain Strong, Following Economy’s LeadRelease Date: 2018-07-02
By: Brandon Richardson
Due to the strengthening economy, businesses and households have found themselves with more discretionary income, which is directly translating to increased sales and passenger numbers for commercial and general aviation, according to industry experts.
“What has historically been the case is business aviation, as an industry, is very closely tied to the economy,” Dan Hubbard, senior vice president of the National Business Aviation Association, said. “When the economy is growing, you usually see some incremental growth in business aviation. If the economy is sliding into a recession, business aviation is usually one of the first industries you see impacted.”
During the Great Recession, Hubbard explained that the sale of new airplanes dropped about 50%, annual flight hours decreased around 40% and available pre-owned aircraft reached their highest level since that data has been tracked.
Read more on The Long Beach Business Journal