Business Jets Affected by World Financial Crisis
We know that the dire financial condition of the present have had an effect on almost every industry imaginable, business aviation being no exception.
One tell-tale sign was reported by Flight Global this week. Hawker Beechcraft (HBC) is planning to slow the development of its light business jet, Hawker 200, a six seat aircraft.
With the crisis having lasted now for 4 years this is the second occasion that HBC has been forced to stop development of this low end jet, launched in 2008.
Another of HBC’s light jet stable – the Hawker 400XP – became a casualty of the financial crisis in 2010. Hit by poor sales and low demand, production of the six-seat aircraft was suspended.
HBC have also suspended production of another of their light jets, and whilst they have affirmed that both will be brought back into production once the economy is in a better state, most industry experts expect no improvement in the light jet market for the next 18 months.
But the impact is not only on the order books of manufacturers, used business jet sales are at an all-time low.
All we can do now is wait it out, and hope that new opportunities enter the market soon.