Asian Sky Quarterly 2021 Q3

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GLOBAL BUSINESS AVIATION MARKET UPDATE Includes Data through July 2021 By Global Jet Capital The business aviation market demonstrated remarkable resilience in 2020 and continued to build on that strength in the first 7 months of 2021. Through July YTD, flight operations and preowned transactions were up, demonstrating continued demand for the capabilities that business jets provide. As the global economy grows, renewed business activity will continue to drive transactions in the business aviation market. • Lifting travel restrictions and liquidity built up during the pandemic led to economic growth in Q2 2021. • Driven by the entry of new users into the market, business jet flights grew through July 2021. While comparisons to 2020 can be misleading due to lockdowns during that time, flight activity increased nearly 1 percent when compared to 2019. • Backlogs rose at major OEMs, driven by new users to the business jet market, low pre-owned inventory, and strong demand from fleet operators. • Overall transaction activity continues to recover from 2020 levels, driven largely by the pre-owned market. • Inventory levels continued to decline through July 2021 and remained at historically low levels. • Limited supply and continued robust demand have given business jet sellers additional bargaining power, resulting in bluebook values firming up and even appreciating in some instances. 4 | ASIAN SKY QUARTERLY — THIRD QUARTER 2021
COMMENTARY: GLOBAL JET CAPITAL GLOBAL ECONOMY Global GDP YoY Percent Change 15% 10% 5% 0% - 5% - 10% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 (Forecast) (Forecast) (Forecast) (Forecast) i The global economy has experienced strong growth in Q2 2021. As governments lifted restrictions that had been implemented to control COVID-19, economic growth returned, especially in the U.S., China, and Europe. Liquidity built up during lockdowns is also driving growth. Oxford Economics expects GDP growth to continue at a steady pace throughout the rest of 2021 and into 2022. Economists note there is a risk of the economy overheating as demand from consumers and governments potentially outstrips supply. ii However, an analysis by Managing Director and Head of Global Research for The Carlyle Group, Jason Thomas, indicates that there are signs that increasing industrial production is closing the gap between supply and demand in the broader economy. iii As new variants emerge, COVID-19 is also a threat to economic growth. However, the global vaccine campaign continues to make progress with over 3.5 billion vaccinations administered globally by mid-July 2021. iv Overall, the economic picture was bright in the first half of 2021. FLIGHT OPERATIONS Global Business Jet Flights July YTD U.S. Rest of World 1.79M 1.80M 31.6% 28.3% 13.3% 1.21M 85.5% 83.6% 29.7% 86.7% 68.4% 71.7% 70.3% 2019 2020 Q4 2021 v As travel restrictions were loosened across jurisdictions, business jet flight operations have recovered, increasing 49 percent through July 2021 compared to the same time a year ago. Growth figures benefited substantially from comparison to weak 2020 data. However, even when compared to the same period in 2019, global flight operations increased 0.8 percent. Throughout the pandemic, business aviation benefitted from the entry of new customers into the market as people sought to avoid crowded commercial flights and terminals. One study found that flying privately can reduce almost 700 “person-to-person” touchpoints compared to a commercial flight. vi While many of these new customers have utilized charter and fractional aircraft, some have purchased their own aircraft (more details on aircraft transactions are below). As the pandemic recedes, the industry looks poised to maintain its position of strength. In a recent survey of business jet users, 97 percent of all respondents indicated that they would use business aviation as much as, or more than, they did prior to COVID-19. Of the respondents that started using business aviation during COVID-19, 100 percent said they would use business aviation at least some of the time after the pandemic was over, with 53 percent saying they would use it regularly. vii The business aviation market will further benefit as large corporate business travel resumes and new users continue to leverage the charter and fractional market, in turn driving continued growth in business jet flight operations. THIRD QUARTER 2021 — ASIAN SKY QUARTERLY | 5
Page 1 and 2: THIRD QUARTER 2021 FEATURES SINO JE
Page 3 and 4: CONTENTS PUBLISHER EDITORIAL & MARK
Page 5: SINO JET World’s Leading Private
Page 9 and 10: COMMENTARY: GLOBAL JET CAPITAL FOR
Page 11 and 12: \ BUSINESS AVIATION SIMPLIFIED. THE
Page 13 and 14: MARKET UPDATE HEAVY JET SHORT TERM
Page 15 and 16: MARKET UPDATE TURBOPROP SHORT TERM
Page 17 and 18: ECONOMICS AUSTRALASIA | AUSTRALIA,
Page 19 and 20: ECONOMICS SOUTHEAST ASIA | INDONESI
Page 21 and 22: THIRD QUARTER 2021 — ASIAN SKY QU
Page 23 and 24: MOOD & INTENTIONS A new low of 32%
Page 25 and 26: MOOD & INTENTIONS What is the curre
Page 27 and 28: FLEET UTILIZATION Summary : Aircraf
Page 29 and 30: SPECIAL FEATURE FLIGHTS DEPARTING A
Page 31 and 32: SPECIAL FEATURE FLIGHT ACTIVITY 350
Page 33 and 34: SPECIAL FEATURE TOP OEM FLEET ACTIV
Page 37 and 38: FEATURE: SINO JET Unprecedented Cha
Page 39 and 40: www.baasia.com 4000 528 666 marketi
Page 41 and 42: EXCLUSIVE: CHARLES FABRIKANT Interv
Page 43 and 44: We know your engine better because
Page 45 and 46: COMMENTARY: FLYING GREENER WITH SUS
Page 49 and 50: Workshops, stores, staff and custom
Page 51 and 52: EXCLUSIVE: ASGVEC RECAP “This is
Page 53 and 54: FEATURE: IADA All that changed in 2
Page 55 and 56: DC AviAtion Al-FuttAim unites quAli
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AIRCRAFT SPOTLIGHT: DASSAULT FALCON
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PRE-OWNED MARKET SPOTLIGHT: CITATIO
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MARKET DYNAMICS WORLDWIDE % OF FLEE
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MARKET DYNAMICS MARKET POSITIONING
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MARKET DYNAMICS % OF AC SOLD / TOTA
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MARKET DYNAMICS MARKET POSITIONING
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MARKET SUMMARY AIRCRAFT POSITIONING
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MARKET SUMMARY BBJ & BBJ2 PERFORMAN
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MARKET SUMMARY CHALLENGER 604, 605
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MARKET SUMMARY GLOBAL EXPRESS, 5000
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MARKET SUMMARY CITATION LATITUDE Av
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MARKET SUMMARY FALCON 2000LX/LXS/S
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MARKET SUMMARY PHENOM 300 Average A
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MARKET SUMMARY G200 Average Asking
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MARKET SUMMARY G650 & G650 ER Avera
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MARKET SUMMARY AIRCRAFT ACQUISITION
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MARKET SUMMARY EC135P2 & T2 $2.4 $1
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MARKET SUMMARY BELL 206 JETRANGER /
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MARKET SUMMARY AW109SP GRANDNEW Ave
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THIRD QUARTER 2021 — ASIAN SKY QU
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Asian Sky Quarterly 2021 Q3

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