Latest news with #businessjets
Forbes
30-05-2025
- Business
- Forbes
U.S. Private Jet Flying Increased After Trump's Liberation Day Tariffs
President Donald J. Trump's tariffs are causing uncertainty with private aviation executives; however, so far, they haven't caused flyers to eschew their private jets. In fact, it's quite the opposite. Trump announced his tariff policy on April 2, 2025, tabbing it Liberation Day and calling it 'one of the most important days in American history.' And while financials markets have gone up and down and up and down again and again, private flying has been going in one direction – up. According to the most recent weekly statistics from WingX, U.S. domestic private jet segments accelerated from 3.4% year-over-year growth before the tariffs to 4.1% year-over-year gains since. During the most recent seven-day period, which included the Memorial Day weekend holiday, U.S. private jet segments were up 16% year-over-year. U.S. private jet flights have increased since President Donald J. Trump announced tariffs on April ... More 2, 2025, according to data from WingX and ARGUS International. Private flights over the holiday were the highest on record, breaking previous marks set in 2021 and then broken in 2022 as Covid led to a surge of newcomers to private aviation. WingX Managing Director Richard Koe assessed, 'Business jet activity continues to trend upwards, with no discernible impact from economic uncertainty." ARGUS TRAQPak, which also tracks private flights, reported similar gains for April. The 2.4% increase in North American private flight hours tracked by ARGUS was not expected. 'April gave us a pleasant surprise and produced a monthly gain,' said Senior Vice President Travis Kuhn. The company had forecast a 1.2% dip for the month. Kuhn said, 'Before the start of the month, all trends seemed to point to a slightly flat to negative month amidst all the economic uncertainty.' In a rarity, all three categories of private flight activity were up. Part 91, which covers non-commercial flights by aircraft owners and corporate flight departments, had been lagging behind Part 91K – fractional operators and Part 135 – charter operators. It saw a 0.4% year-over-year increase during April. The increases so far this year reverse two years of declines after private flying reached record levels in 2022, although 2024 still ranked as the industry's third-best year ever measured by flight hours, according to ARGUS. Another indicator of short-term confidence is the sale of jet cards. Jet cards function like a debit card for private flights, bridging the gap between chartering on a flight-by-flight basis and longer-term, more expensive solutions, such as fractional and full ownership. In Q1, Wheels Up reported a 16.7% increase in deposits for future flights, its best first quarter since 2022. flyExclusive, another publicly traded flight provider, reported a 25% increase in Q1 sales for its Jet Club, its version of a jet card. Both preowned private jet sales and new private jet deliveries also got off to a good start in the first quarter. The General Aviation Manufacturers Association reported an 11% year-over-year increase in new jet deliveries. The value was $5.04 billion, representing a 25.7% increase compared to 2024. The International Aircraft Dealers Association, whose members claim over 50% of preowned transactions, said closed sales increased 24% in Q1. Industry executives expect tailwinds later this year as well. They're betting on bonus depreciation for private jet purchases, part of the current Republican-led tax legislation, and continued turmoil with the air traffic control system and airlines, making scheduled airline flights unreliable. Despite all the positives, a Corporate Jet Investor webinar held earlier this week focused on the impact of tariffs for private jet owners found executives to be both optimistic and concerned. Industry analyst Rolland Vincent, a former fractional and OEM executive, told listeners Q2 is a 'completely different picture (from the first quarter of 2025)…Tariffs and the unpredictable nature of the announcements, whether it's one day or the next, may present a completely different picture. It's causing businesspeople to hold back on the throttle…Q2 is pretty much a self-inflicted wound.' His JetNetIQ quarterly survey's optimism index had given back its entire 28-point gain that came in Q4 after Trump's election victory. 'Post-COVID, the word that came up on every panel was uncertainty. Last year, before the election, what word came up on every panel? The word was uncertainty. Then, after the election, the word uncertainty disappeared. Now, all of a sudden, the word is uncertainty, and it's in bold and all caps,' PNC Bank SVP Keith Hayes added. There's good reason for consternation. Tariffs are already hitting private jet owners when it comes to repairs. One listener commented that a customer had to pay a $285,000 tariff for new engine parts for his Dassault Falcon 2000X that were shipped from outside the United States. Panelist Chris Ellis of Avpro relayed a Gulfstream Aerospace G450 owner was billed $850,000 in tariff costs to cover parts imported for a post-Liberation Day overhaul. Executives are also concerned that there will not be enough maintenance slots at MROs to accommodate the traditional Q4 frenzy of pre-buy inspections, which could increase if the bonus depreciation is enacted. Hayes added after a strong start, 'We are having clients now start to slow down, tap the brakes.' The most significant risk for 2025, the executives said, is if companies take a substantial hit to their bottom line or ultra-high-net-worth individuals (UHNWs) see their wallets squeezed. However, they concluded that regular private flyers don't have other realistic options. Vincent noted, 'The air traffic control nightmares suggest commercial airline services are not going to be very dependable.' Ellis added, 'Plan B is so bad, flying commercial, (customers) are just going to power through it. We're feeling super optimistic.' Mesinger Jet Sales Jay Mesinger, who moderated the panel, added, 'Airline industry disruptions have always served (private aviation) well.' The may be right. Even Vermont Senator Bernie Sanders, recently called private jets 'the only way to get around.' In terms of overall sentiment, a ChatGPT analysis of panelist comments found, 'In short, they're realistic but confident — aware of headwinds, but not signaling serious concern.' Asked to rate their level of confidence on a scale of one to 10, with 10 being the highest, ChatGPT gave it a seven that 'reflects measured optimism with eyes open.' However, when it comes to the bigger commitment of buying private jets instead of just flying on them or putting down low six-figure jet card deposits, Mesinger noted the current attitude. He said, 'Sitting on the fence seems to be a safe place to be right now unless you have a real motivation to jump in.'
Yahoo
30-05-2025
- Business
- Yahoo
St. Paul Downtown Airport will temporarily close its primary runway
St. Paul Downtown Airport will temporarily close its primary runway originally appeared on Bring Me The News. Big changes are coming to St. Paul Downtown Airport (STP) on Monday. The airport will close its primary runway through Aug. 9 for a $12.5 million improvement project, including pavement reconstruction, lighting upgrades, and surface drainage. In addition to Runway 14-32 , several connected taxiways will experience intermittent closures, the Metropolitan Airports Commission (MAC), which owns and operates STP, said in a statement. 'This is the longest general aviation runway in our reliever system of airports and supports a high volume of business jet activity, including international flights,' Brian Ryks, CEO of the MAC, said in a statement. "We're replacing end-of-life pavement that was originally installed in the 1980s to continue to maintain a high level of safety, operations and efficiency." While MSP is the MAC's largest airport, STP sees lots of business travel. The announcement notes that STP had the highest operational growth among MAC's airports last year, an 11% increase, bringing it to 42,476 takeoffs and landings. Additionally, the MAC will commence work on a new standalone U.S. Customs and Border Protection facility at STP later this story was originally reported by Bring Me The News on May 30, 2025, where it first appeared.
Globe and Mail
23-05-2025
- Business
- Globe and Mail
Textron Wins Order to Supply up to 12 Citation Jets in Mexico
Textron Inc.'s TXT business segment, Textron Aviation, recently revealed that it has signed an agreement with Aerolineas Ejecutivas, Mexico, to supply up to 12 Cessna Citation business jets. The jets will be a combination of Citation CJ3 Gen2, Citation CJ3 Gen3 and Cessna Citation Latitude jets. Four aircraft, including two Citation Latitudes and two Citation CJ3 Gen2 aircraft, are scheduled to be delivered in 2026. This order should bolster TXT's footprint in the Latin American business aviation market. Textron's Proficiency in Business Aviation Textron Aviation stands as a prominent leader in the business aviation industry, primarily through its renowned Cessna Citation series of business jets. It has the world's most versatile and comprehensive business jet portfolio, which includes the Citation M2 Gen3, Citation CJ3 Gen3, Citation CJ4 Gen3, Citation Ascend, Citation Latitude and Citation Longitude. These jets come with impressive cabin interiors that are designed with thoughtful details like flexible seating configurations, ample legroom and ambient lighting, making them even more attractive for business class travel. Such features must have been attracting airlines to select TXT's Citation jets as their preferred business aircraft, as further evidenced by the latest order win. TXT Stock's Growth Potential Steadily growing global air travel and gradually improving economic conditions of nations across the board, along with an increasing number of high-net-worth personnel, are expected to drive the growth of the business jet industry in the coming days. In line with this trend, the Mordor Intelligence firm expects the global business jet market to witness a CAGR of 3.8% during the 2025-2030 period. Such growth prospects should benefit Textron, with its Textron Aviation segment being one of the prominent business jet makers. Citation Latitude has been the world's most-delivered midsize business jet for nine consecutive years, which offers TXT a solid competitive edge in the business jet market and should enable the company to win more such orders, like the latest one, in the near future and significantly boost its future revenues. Opportunities for Other Aerospace Stocks Apart from TXT, aerospace companies that are likely to reap the benefits of the growing business jet market are as follows: The Boeing Company BA: It has been the premier manufacturer of corporate jetliners for decades. Its BBJ 787 is a large business jet featuring a composite airframe and a low cabin altitude system. Its BBJ 737 MAX is the longest-range, non-widebody business jet, which can fly 6,600 nautical miles (12,220 km) nonstop. Boeing has a long-term (three to five years) earnings growth rate of 17.9%. The Zacks Consensus Estimate for BA's 2025 sales suggests growth of 25.6%. Airbus SE EADSY: Its business unit, Airbus Corporate Jets, manufactures and markets business jet variants of the company's airliners. Its portfolio includes corporate jets like ACJ TwoTwenty, ACJneo, ACJ33neo and ACJ350. Airbus has a long-term earnings growth rate of 4%. The Zacks Consensus Estimate for EADSY's 2025 sales implies growth of 10.4%. General Dynamics Corp. GD: Its Aerospace segment is recognized as a well-known producer of business jets. Its Gulfstream G800 is the world's longest-range business aircraft, while the G700 offers the most spacious cabin in the business aviation industry. General Dynamics has a long-term earnings growth rate of 10%. The Zacks Consensus Estimate for GD's 2025 sales suggests growth of 5.8%. TXT Stock Price Movement In the past month, shares of Textron have risen 8.2% compared with the industry 's growth of 10.8%. TXT's Zacks Rank Textron currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.0% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report
Yahoo
22-05-2025
- Business
- Yahoo
Textron Inc. (TXT) Aviation Announces Fleet Order for Cessna Citation Business Jets From Mexico's ALE
On May 21, Textron Aviation, a wholly-owned subsidiary of Textron Inc. (NYSE:TXT), announced entering into a purchase agreement for up to 12 Cessna Citation business jets with Mexico's leading business aviation company, Aerolíneas Ejecutivas (ALE). The jets will include a mix of Citation CJ3 Gen2, Citation CJ3 Gen3, and Cessna Citation Latitude aircraft. ALE will operate these in its fractional ownership division, MexJet. According to Textron Inc. (NYSE:TXT)'s press release shared on Wednesday, two Citation Latitude and two Citation CJ3 Gen2 aircraft are expected to be delivered in 2026. Marcelo Moreira, Textron Inc. (NYSE:TXT) Aviation's Vice President of Sales, Latin America, stated the following on the agreement: 'Cessna Citation business jets are ideal for fractional customers seeking class-leading comfort and performance. We appreciate customers like ALE, who recognize the benefits of flying a diverse fleet of Citation jets. The operating economics of Citations, along with Textron Aviation's extensive service and support network, ensures continuous productivity and enjoyment throughout the ownership experience.' Aerolíneas Ejecutivas is a long-time Citation operator, with Citation Latitude and Citation CJ3+ jets already in its fleet. The latest order is expected to further consolidate the company's position as the leading business aviation company in Mexico. Textron Inc. (NYSE:TXT) manufactures products for consumers across several industries by leveraging its network of aircraft, defense, finance, and industrial businesses. The stock has gained nearly 14% over the past month, driven mainly by Q1 FY25 results that topped estimates for both revenue and earnings. On May 20, Textron Inc. (NYSE:TXT)'s subsidiary, Bell, demonstrated an FLRAA virtual prototype to the U.S. Army. You can read more about the story here. While we acknowledge the potential of TXT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TXT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Best Drone Stocks to Buy According to Billionaires and 11 Best American Defense Stocks to Buy Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Travel Daily News
16-05-2025
- Business
- Travel Daily News
General Aviation hangar opens at Katowice Airport
Katowice Airport opens Poland's largest General Aviation hangar, enhancing business jet services as part of its growing aviation infrastructure strategy. A hangar for General Aviation aircraft was put into service at Katowice Airport. The modern building is located in the south-western part of the airport, by aircraft apron no. 4. The hangar covers 5 452 sq m, is 41 metres deep, 11 metres high and 133 metres wide. When it comes to width, the building is the biggest hangar object currently available at the Airport. The building consists of three independent segments; each allows to store not only business aircraft (A-C code), but also helicopters. PROMUS sp. z o.o. was the main contractor responsible for the investment. The commissioning of the facility was combined with a presentation of a Gulfstream Aerospace aircraft; the company is one of the largest manufacturers of business jets in the world. The Upper Silesian Aviation Group (Górnośląskie Towarzystwo Lotnicze S.A. – GTL S.A.), i.e. the company managing Katowice Airport, offers complex services for business clients and business jets. In the airport's passenger terminals, there are two Fast Tracks which make the security control process easier, as well as two Business Lounges. The Business Customer Department at GTL S.A. provides, among others, assistance during check-in and private transportation between terminals and aircraft. Moreover, GTL S.A. holds a certificate and approval allowing to perform ground handling of General Aviation aircraft. 'I'm glad that our clients have appreciated the quality of service at Katowice Airport and decided to strengthen their relationship with the airport by successfully carrying out construction of a hangar for their business aircraft here. Our expansion program for Katowice Airport sees its south-western part dedicated for General Aviation infrastructure,' said Artur Tomasik, President of the Board of the Upper Silesian Aviation Group, the company managing Katowice Airport. Katowice Airport is among the biggest regional airports in Poland. 6.39m. passengers travelled via its network of flights in 2024. The forecast for 2025 estimates that approx. 7m. passengers will be handled; it will be the best result in the history of the Airport. Katowice Wojciech Korfanty Airport is the country leader in the area of charter traffic, and one of the biggest cargo airports in Poland.
