With Europe’s business aviation community gathering in Geneva this week for the European Business Aviation Convention and Exhibition (EBACE), asset management and financial advisor specializing in business jets, helicopters and regional aircraft, ALTEA has highlighted its perspective on the main trends in Europe impacting the business jet market as owners, operators, FBOs and aftermarket providers navigate a fluctuating and often complex path.
According to ALTEA, as international service providers consolidate and merge, fleets are undergoing transformation. Older aircraft are being upgraded to operate successfully alongside new, technologically advanced models. Values are being sustained via these discerning and astute refurbishment programs and the undimmed pursuit of ever-greener aviation. “These advances are beginning to create a modern, efficient environment where speed, sustainability, service, safety and connectivity come together to deliver the flying experience that today’s HNWIs, governments, public entities and business demand,” said Andrew Butler, Partner at ALTEA.
While business aviation has demonstrated resilience and stability over the last 12 months, this has not been without challenges in a market that is often described as turbulent, complex and constantly evolving. according to aviation data specialist WINGX, a total of 740152 business aviation flights were recorded in Europe in 2023 and although the industry did experience a slowdown towards the end of the year, there is strong evidence to suggest that the market is stabilizing and returning to pre-COVID levels. Paris Le Bourget is Europe’s fastest growing airport, with London (Farnborough and Luton) and Switzerland (Geneva Cointrin and Zurich) also topping the table.
“The groundswell of public opinion is forcing an emergence of “greener” travel in business aviation,” continued Butler. “ALTEA is observing that environmental awareness is now guiding the choices of businesses, governments, and individuals alike and this in turn is impacting the OEMs as they design and build aircraft for the future. The ability to adapt to these challenges is essential to ensure the industry’s sustainable growth and success.”
While business aircraft manufacturers are actively working on more efficient and less polluting models using lightweight materials and more fuel-efficient engines, sustainable aviation fuel (SAF) remains a key enabler of meeting the industry’s net zero goals. “Electric and hydrogen-powered aircraft promise more sustainable solutions for the future of private air transport – but they remain some way off. In addition, the continuing development of the Advanced Air Mobility (AAM) is being closely watched. The proposed eVTOL aircraft could deliver significant advances in autonomous and sustainable transport when it is launched,” added Butler.
