On Monday morning next the National Business Aircraft Association (NBAA) will open its doors in Orlando, FL for the 61st gathering of eagles and those who employ and sell to them. Given the current state of affairs with the U.S. Economy there will be a cloud hanging over the event, and what the affect of this credit crunch will have is yet to be determined.
Bloomberg.com on Sept. 29th quoted the CEO of Embraer saying "Some customers have said they are facing more difficulties in financing, but we haven't seen any impact on our business." Embraer admitted that some customers like Jet Blue Airways Corp. and Virgin Blue Holdings Ltd. have postponed deliveries while other customers have taken accelerated deliveries as the aircraft become available.
Embraer's CEO, Frederico Fleury Curado reaffirmed the companies projected delivery target of 215 aircraft for 2008 remains firm. At the same time Curado stated that no orders have been cancelled and that the company still expects to deliver 350 aircraft in 2009.
The most anticipated event at this years NBAA convention will be the release of Honeywell's business aviation forecast which, last year, was overflowing with confidence in the business aviation market last year. Nonetheless companies like Cessna and Bombardier continue to unveil new models and technology for bizjets, while business jet charter operators are starting to merge businesses in the face of declining revenues.
Keep your eyes out the cockpit windscreen Hersch, the winds of change are swirling around the bizjet business, and the only sure thing we know is the change is constant.
Until next time keep your wings straight and level Hersch!
Oh, I have slipped the surly bonds of earth,
And danced the skies on laughter-silvered wings;
Sunward I've climbed, and joined the tumbling mirth
Of sun-split clouds...and done a hundred things
You have not dreamed of...wheeled and soared and swung
High in the sunlit silence. Hov'ring there,
I've chased the shouting wind along, and flung
My eager craft through footless halls of air.
Up, up, the long, delirious burning blue
I've topped the windswept heights with easy grace
Where never lark, nor even eagle flew.
And while with silent, lifting mind I've trod
The high untrespassed sanctity of space...
...put out my hand, and touched the face of God.