The third quarter was one of stabilization for the business jet market with operations, orders, available aircraft, and pricing all ebbing but at the same time normalizing, according to Global Jet Capital’s latest Business Aviation Market Brief. “Despite this shift, the market continues to show strength and resilience,” Global Jet Capital maintained, pointing to strong OEM backlogs, operations that remain above pre-pandemic levels, and still-low availability of newer and more desirable preowned aircraft. In the third quarter, flight operations decreased by 1.3% year over year (YOY) but were 1% higher than the second quarter and still 14.6% above pre-pandemic third-quarter 2019. Global Jet Capital said this dynamic reflects “an enduring expansion in the user base for business aviation.” Fractional operations remain the strongest sector in terms of growth, expanding slightly in the third quarter. OEM revenue was up by 15.3% YOY while backlogs remained high at $45.6 billion—just a 1.1% dip YOY. Orders in the quarter declined YOY but were still up 20.4% from 2019. Preowned transactions remained stable as more aircraft came on the market. New preowned public listings were up 13.3% YOY. Aircraft 13 years and older represented 69.6% of the new listings at the end of the quarter. Aircraft available for sale represented 7.8% of the total fleet as of October 31—still below the 10% average of the last decade. “As inventory increased, the market shifted from a seller’s market to a more neutral state,” Global Jet Capital said. Values for older aircraft (13+ years) decreased by 4.4% but increased by 0.8% for newer aircraft. Further, market conditions remain favorable, the aircraft financier said, with stable GDP growth of 2.7% during the first three quarters of the year and declining inflation, despite

Bombardier’s Mach 0.925 Global 7500 has now accrued 75 speed records, the company reported today. The announcement comes as the ultra-long-range business jet category continues to establish scores of speed records traveling the globe. Just last week, rival Gulfstream noted that its newest model in the portfolio, the Gulfstream G700, had already accrued 65. As far as the Global 7500’s latest feats, it has established city-pair records on flights between Tokyo and Hong Kong (3 hours 40 minutes); New Delhi and Tokyo (7 hours); and Los Angeles to Auckland (11 hours 55 minutes). Other record flights Bombardier mentioned were Miami to São Paulo, Tokyo to Los Angeles, Tokyo to San Jose, and Jeddah to London. These missions using the Global 7500 join others that Bombardier has in the books for its flagship model, including an 8,225-nm flight in October 2019 from Sydney, Australia, to Detroit, Michigan—the longest flight recorded in a business aircraft, according to the company. “What’s even more impressive about these Global 7500 records is they are flown as part of routine aircraft movements, including some missions that have passengers onboard,” said Jean-Christophe Gallagher, executive v-p of aircraft sales and Bombardier Defense. “We have on more than one occasion been thrilled to have customers and prospects be aboard for the record-setting city pairs.” The Global 7500 fleet is approaching 200 aircraft and has accrued more than 200,000 flight hours. Source: AIN Online