The business jet industry has had four major downturns in the past 30 years, and it’s bounced back from every one, Signature Flight Support president Michael Scheeringa told attendees at today’s Wichita Aero Club meeting.
“It’s a very resilient industry,” Scheeringa said. The good news is that the market has begun to recover, although recovery has been muted.
But Fortune 200 companies are flying as much today as they did in 2008, he said. It’s the small business owners who are not using business aviation as much.
The political climate has caused uncertainty in the tax structure of smaller businesses. And that leads to uncertainty about income and generates a lack of confidence, he said. That lack of confidence impacts the business aviation industry in Wichita and elsewhere.
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Signature Flight Support operates 103 fixed base operations throughout the world, including one at Wichita Mid-Continent Airport.