May 5, 2010
The business aviation market appears to be recovering from the economic downturn, propelled by increased sales in Asia and Africa, according to Jahid Fazal-Karim, co-owner of Jetcraft Corporation, and former senior vice president of worldwide sales for Bombardier. However, signs of continued economic instability in parts of Europe could have “a serious effect” on the Western markets.
Sales of long-range business jets, in particular, have increased approximately 15 percent in Asia over the last year, Fazal-Karim told AIN, adding that the market in mainland China has been “extremely active.” Demand has also increased in Russia, where the industry was “all but dead” in 2009. “The Asian market in general is pretty good, especially for aircraft on the higher end of the market,” he added. “They need the range.”
In addition, the increase in sales within the Indian market has been in the double digits, while the Mid...