Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Global business jet market starting to recover -Dassault Aviation chief

Published 2018-01-11, 05:35 a/m
© Reuters.  Global business jet market starting to recover -Dassault Aviation chief
RTX
-
AM
-

By Cyril Altmeyer

PARIS, Jan 11 (Reuters) - The global business jet market, which had been bruised by the 2007-08 financial crisis, has started to show signs of recovery, the head of France's Dassault Aviation AVMD.PA said on Thursday.

Sales of business jets halved from their peak of 1,317 in 2008 to 661 in 2016, according to data from the General Aviation Manufacturers Association, but jet maker Dassault's chairman and CEO Eric Trappier told reporters there were signs the market is picking up and that his company is also in the process of developing a new business jet. in his capacity as head of the French Gifas aerospace business interest group, Trappier said there had been a pick up in activity over the past month.

Trappier's comments echoed those made in October by Honeywell HON.N , which said it expected the market to receive a boost from the global economy's steady growth and upgrades to newer aircraft from U.S. companies. Aviation last month said it was scrapping development of the Falcon 5X jet because of delays and technical problems with its French-supplied engines. It added that it would launch a new model powered by Pratt & Whitney Canada, a subsidiary of United Technologies Corp (NYSE:UTX) UTX.N .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.