NOTE: The below originally appeared as the editorial in our October 16 One Minute Week newsletter. To find out more, and sign up for free, please click here.
The evenings are getting dark this side of the pond, so Florida – where Corporate Jet Investor Miami is taking place next week – is looking appealing. The same is true with the market. It has not been a great summer for many European operators but North America has been much stronger.
“The year has been great,” said Kenn Ricci, founder of Directional Capital, which owns Flight Options, Flexjet, Sentient, Nextant and other companies. Flight Options and Flexjet have grown their fleet by 22 aircraft this year. “But being business aviation that probably means we have seven years of famine to come.”
There is a definite feeling of nervousness in many financial markets. The CBOE Vix index has fallen slightly but it will not take much for it to jump up again. But there are also lots of reasons to be excited. Kenny Dichter is continuing his aim to democratise business aviation and there are a lot of companies planning to disrupt old practices – including Paul Touw, who founded XO Jet and is now working on an exciting new project.
You get the feeling that the next 12 months will see a lot of change. In the short term, the weather forecast for Miami is also looking good.