To buy or to charter? Making the right decision depends on a lot of variables. Here are questions to ask yourself when considering whether to buy or to charter.
Strengthening the voice of Business Aviation with IBAC: Uniting our mutual knowledge and influence is vital to the sustained growth of our industry, particularly at times when it is misunderstood and under attack in some quarters.
Sri Lanka is well on its way to becoming one of the key aviation hubs in Asia Pacific. Beyond the strength of its strategic location at the crossroads of major air routes connecting Australia and Asia with Europe and the Middle East, it is its government commitment to, and investment in, the island’s aviation sector and infrastructure that is solidifying its future.
I’m sure anyone who attended last week’s EBACE in Geneva will share my view that it was the best EBACE yet. Unfortunately, the event was mired by protests organized by climate activists who consider business aviation the big bad wolf of carbon emissions. I know I don’t need to explain to my industry peers that BA actually produces a relatively small percentage of emissions when compared to commercial flight or other methods of transport. I know I don’t have to explain the economic benefits to regions that come directly from business aviation activities. However, it still seems that many of the public are under false illusions on this matter.
The global demand for air travel shows no signs of waning as the first quarter of 2023 saw travel demand grow steadily in all regions. Figures published by the International Air Transport Association (IATA) indicate that international traffic climbed 68.9% in March, with a 52.4% upturn in revenue passenger kilometers (RPKs) compared to March 2022. IATA also states that global traffic is currently at 88% of March 2019 levels- encouraging news for aviators everywhere.
The recent Greenpeace report slamming private aviation in just the latest in a barrage of attacks on an industry that, far from being a massive environmental culprit, is quite a minor offender. It is the perception that private aviation is an elitist luxury that benefits only a few that allows it to be so easily scapegoated in this way. In reality, private aviation is a small-time environmental culprit when compared to other sectors and industries. And its benefits trickle down supply lines and economies to the benefit of all.
There are many reasons why the Asian air charter market is getting stronger and stronger... A super fast-growing number of HNWIs and UHNWIs, people anxious for travel and exploration as the last of the COVID-19 restrictions end, and growing commerce and economic activity, to name a few. It’s interesting how demand is evolving: requirements are in constant flux and operators are constantly becoming more dynamic to meet these demands.
We are all responsible for caring for the environment so our planet and its resources can be inherited by future generations, and when we run businesses, this responsibility becomes even greater. Business aviation often unfairly comes under scrutiny for its environmental impact, despite statistics confirming that the industry creates just a fraction of the total environmental impact that the broader aviation sector is responsible for.