Key business jet industry metrics are pointing to a further weakening of the market globally and suggest business conditions continue to head toward new post-recession lows, according to the latest UBS Business Jet Market Index, released today. UBS created the market index to track changes in market conditions based on surveys measuring customer interest, pricing, 12-month outlook, inventory and willingness to increase inventory.
The index, which in December reached its lowest point since late 2009, fell another 11 percent, returning to the levels tracked in 2008 and 2009, UBS reported. The large-cabin market index came in the weakest and had eroded 11 percent from the previous index. The midsize cabin index fell the least, at 7 percent. While the small-cabin index remained the strongest, it was still down 15 percent from the previous survey.
Customer interest remained strongest in North America, but had softened 13 percent, according to the survey. Nearly two-thirds of the survey respondents cited weakness in emerging markets and currency devaluation in their market outlook, and three-quarters of the respondents believe those factors affect the large-cabin jet business in particular.
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