GAMA says three of five GA economic recovery factors in place
March 18, 2011, 03:08 am
Despite falling numbers of general aviation aircraft deliveries in 2011, the General Aviation Manufacturers Association reported that three of the five indicators for general aviation economic recovery are showing positive signs, according to the Aircraft Owners and Pilots Association.
GAMA, according to the source, applied a "green" rating to flight activity, corporate profits anD tax policies, meaning those areas of the economy as they relate to general aviation are seeing signs of improvement.
However, the used market and availability of credit are still struggling by GAMA standards, the AOPA reported.
The used business jet market reported experienced a 14.8 percent reduction in its inventory as of December 2010 and financing remains very limited, as evidenced by the 13 percent increase in cash purchases for GA aircraft.
Though the industry is hopeful for improvement, GAMA President and CEO Pete Bunce told the AOPA, "I look at 2011 with both optimism and caution."
The group may benefit from that approach, according to the Federal Aviation Administration, as the rebound of the general aviation industry is expected to occur slowly over a number of years.
As the industry rebounds and airports become more busy, the risk of an accident may increase. Pilots should always ensure they have pilot insurance coverage before taking flight.
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