Glimmers of Hope at JetNet Aviation Summit

Stephen Pope

Thursday, June 06, 2013 at 07:49 PM ET

Verified

Key Takeaways:

Despite nearly five years of economic headwinds, industry experts predict a turnaround for business aviation is imminent, largely due to improving economic conditions in the United States.
While some positive signs, like increased demand for pre-owned light jets, are emerging, overall aircraft values continue to decline due to a gap between seller and buyer expectations and an influx of inventory.
Major aircraft manufacturers are investing heavily for the future, expressing strong optimism for 2014 and beyond, and claim to have economic data to support their positive outlook.

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As business aviation continues to be buffeted by economic headwinds nearly five years after the start of the global financial crisis, signs of a turnaround have been stubborn to materialize. But the turnaround is coming, experts insist, and maybe sooner than many of us think.

At the annual JetNet IQ Global Business Aviation Summit in New York yesterday, industry insiders and financial analysts acknowledged the painful impact the economic downturn has had on business aviation, but they said there are strong indications the market is finally turning a corner, thanks in large part to improving conditions in the United States.