
Despite the robustness of order books, strong pricing, and flying that still outpaces pre-pandemic levels, the business aviation industry and perhaps the larger aviation industry have navigated into choppy waters. During JetNet’s recent iQ Summit, iQ survey founder and head of Rolland Vincent Associates Rolland Vincent noted that “We’re in a bit of a strange” place with geopolitical tensions, inflation, interest rate changes, and presidential election uncertainties. The result? Industry net optimism has reached its lowest point since the initial Covid surge in 2020, with many believing that the current business cycle has yet to hit bottom.
Adding to all of this is a supply chain system that has remained stubbornly fragile and rising labor disputes that hit NetJets earlier this year through various pickets and other campaigns, Bombardier through a brief strike in July, and most recently Textron Aviation, which now has 5,000 workers on strike. Of course, the Boeing strike, affecting 33,000 workers, may eclipse all of that.