Key business jet market indicators, measured by a monthly UBS Business Jet Market Index survey, point to a weakening global market and have fallen back to levels tracked in 2008-2009, the latest index said.
The UBS Business Jet Market Index, released March 10, tracks changes in market conditions through surveys of domestic and international brokers/dealers, manufacturers, fractional providers, financiers and others.
Its latest Business Jet Market Index was 11% lower than the previous survey and reached a new post-crisis low, it said. Large-cabin jets showed the most weakness, followed by midsize jets and small-cabin jets.
All index components declined. Inventory fell 21%, willingness to increase inventory declined 19%, 12-month outlook fell 7%, and customer interest declined 4%.
Customer interest remained strongest in North America, although it fell 13% from the previous survey and came through “barely positive.” All other regions of the world continue to indicate incrementally weaker conditions, it said.
About 65% of survey respondents cited weakness in emerging markets and currency devaluation as having a significant negative impact; 73% highlighted large-cabin jets as being most affected.
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