US BizAv Standing Strong: We’re far from seeing the end of COVID-19 at this stage in the game. However, it’s extremely encouraging to see the US’ business aviation industry consistently moving toward recovery over the past month. Certainly, US business aviation is standing strong, and knowing many of its veterans, I can’t say that I’m surprised.
WINGX recently reported that North America’s market has just had the largest rebound since the global slump in April. Unfortunately, though, recovery pace seems to have slowed down recently as lockdown-lifts were delayed across several states due to localized virus resurgences. WINGX also stated that June’s busiest airport was West Palm Beach in Florida with over 2,600 departures representing an increase of over 45% year-on-year.
There was also more good news for the recovery of the American market with the successful passage of legislation in the U.S. House of Representatives that will further support the nation’s business aviation industry. The legislation includes increased funding for the FAA’s Airport Improvement Program with the provision of $4 billion in annual funding with another $3 billion in grant funding next year. It also recommends a progressive increase to $4 billion in 2025. The proposals are seeking ways to reduce costs for much-needed infrastructure improvements at smaller airports, as well as funding for the R&D of renewable aviation fuels.
It is easy to be pessimistic at times like this, but we never get where we want to go by being pessimistic. I’m expecting even stronger recovery as countries begin to welcome tourists… this will increase leisure travel and the movement of small and midsize jets. And, with all the encouraging things happening in the US market, I’m confident we will see even more great steps to recovery in the months ahead.
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