Utah People's Post

The Latest News from the Beehive State

Sunday, January 29, 2023
Log in
  • National News
    • Female Caseworker Killed & Doctor Shot in Philadelphia
  • State News
    • Car Chase Leads to Drug Arrest
  • Tech & Science
  • Health
    • How to Prepare For Ticks Season
    • Magical Weight Loss Bean Scam
  • Sports
  • Business
You are here: Home / Uncategorized / Revival of Private Jet Sales After Recession

Revival of Private Jet Sales After Recession

July 20, 2014 Posted by Editor

During the recession, many companies decided on budget cuts that would allow them to function normally while not significantly altering their workarounds and the best solution to fit everyone’s expectation was to target the company plane for spending cuts. Several years later, it seems that the decision is being revised as more and more companies seem to be over the long and difficult times they had to endure. Private jet sales have begun to steadily increase, according to the chief executive of General Dynamics Corp.

interior-photo-55

The manufacturers of Gulfstream jets are enthusiastic about the constant increase in jet sales. They say that corporate customers are back and intend on purchasing more and more private jets due to wealth redistribution tendencies. Not only General Dynamics Corp. are experiencing an increase in sales, Pratt & Whitney have also noticed a positive trend.

The president of the aforementioned jet engine maker declared that for the first time since 2011 (when sales hit bottom), deliveries are beginning to grow once more. Back in 2013, total business jet deliveries had been estimated at around $20.9 billion, while in 2008, they were valued at $24.7 billion. The year 2012 was catastrophic for the industry as sales were estimated at around $18 billion.

Shipments also experienced an enormous drop in 2012 (a 48 percent drop from 1,313 in 2008 to 672). While some sectors have indeed been seeing excellent signs, the market has not been improving all around. It seems that large-cabin planes are being sought after, whereas small- and mid-sized planes sales are still at a standstill. Analysts explain that the poor performance mid-sized- and small jets seem to be having is due to tight crediting conditions, whereas the larger jet purchases are more likely to be self-financed. Moreover, as the purchase of a private jet plane might rely on the approval of a credit, it is still hard to finance some purchases as credit markets have not yet fully recovered.

Analyst Christian Mayes stated that the challenge for larger jets is also smaller due to the fact that rich celebrities can always afford multimillion-dollar jets regardless of the current worldwide financial situation. They rely on getting from A to B in a heartbeat and they are not the only ones. Mid-level managers are also in a similar situation, as it seems that not only chief executives require cutting travel time. When your job involves running multibillion-dollar companies, there is no time to be wasted, and these are exactly the buyers of business jets even in poorer economies.

Share this:

  • Tweet
  • Share on Tumblr
  • Email

Filed Under: Uncategorized Tagged With: business news, General Dynamics Corp., Gulfstream, jet sales, revival of jet sales

Woman working out at the gym

Just 23% of Americans Are Working Out Enough in Their Spare Time

June 29, 2018 By Amelia Donovan

Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)

June 29, 2018 By Amelia Donovan

United Airlines airplane

Passenger Mysteriously Dies on United Airlines flight Bound for Boston

June 28, 2018 By Amelia Donovan

Breakfast sandwich

Here Are Some Foods No Nutritionist Would Ever Eat

June 27, 2018 By Amelia Donovan

Poppy flower

UN Warns of Surge in Opium-based Drugs and Cocaine Supply

June 27, 2018 By Amelia Donovan

U.S.-Canada border

French Jogger Detained 2 Weeks for Accidentally Crossing Border

June 26, 2018 By Amelia Donovan

Plus size model

Normalizing Plus Size Could Fuel Obesity Crisis (Study)

June 25, 2018 By Amelia Donovan

Giant manta ray

Unique Manta Ray Nursery Spotted off Texas Coast

June 23, 2018 By Amelia Donovan

The rainbow flag

WHO Scraps Transgenderism from List of Mental Illnesses

June 22, 2018 By Amelia Donovan

456 People Dead at U.K. Hospital after Taking too Many Painkillers

June 21, 2018 By Amelia Donovan

Kenyan girls dancing

Kenyans Facing Poor Nutrition as Supermarket Shopping Is on the Rise

June 20, 2018 By Amelia Donovan

Pages

  • About
  • Contact
  • Privacy Policy GDPR
  • Staff
  • Terms and Conditions

Recent Posts

  • Just 23% of Americans Are Working Out Enough in Their Spare Time
  • Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)
  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston
  • Here Are Some Foods No Nutritionist Would Ever Eat
  • UN Warns of Surge in Opium-based Drugs and Cocaine Supply
  • French Jogger Detained 2 Weeks for Accidentally Crossing Border
  • Normalizing Plus Size Could Fuel Obesity Crisis (Study)

Related Articles

  • Beauty and the Beast promotional poster

    Beauty and the Beast Reactions Are In and Critics Are Not Impressed

    Mar 17, 2017
  • bottle of Ibuprofen and pills

    Ibuprofen Linked to Increased Risk of Heart Attack

    Mar 16, 2017
  • Man Tries to Steal a Maserati Gran Turismo After Test Drive

    Feb 28, 2017
  • a couple on the beach

    Straight Women Are Less Likely to Orgasm

    Feb 26, 2017
  • teenager smoking weed

    Smart Students Are More Likely to Experience with Pot and Alcohol

    Feb 25, 2017
  • arctic sea ice

    Arctic Refreeze Plan Will Cost $500B

    Feb 15, 2017
  • Valve logo

    Valve News: Three VR Games, Paid Mods, Steam Greenlight

    Feb 13, 2017
  • Rocket League cars

    Rocket League Gets Hot Wheels DLC

    Feb 11, 2017
  • ThinkPad P71

    Lenovo Refreshes the ThinkPad P Laptop Series

    Feb 8, 2017
  • Audi logo

    Audi Recall Order Affects 576000 Vehicles at Risk of Fire Engine

    Feb 6, 2017

Categories

  • Business
  • Entertainment
  • Health
  • National News
  • Nature
  • Provo
  • Salt Lake News
  • Science
  • Sports
  • State News
  • Tech & Science
  • Technology
  • Uncategorized
  • West Jordan
  • West Valley City
  • World

Copyright © 2023 utahpeoplespost.com

About · Privacy Policy · Terms of Use · Site Map · Contact