Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
While airlines still account for the majority of corporate travel, many businesses are gradually returning to private planes. They are eager to avoid airport hassles, flight delays and other potential logistical snags associated with commercial flying. For some companies, corporate jets are also a better value.
"We appear to be off the bottom," said Dan Hubbard of the National Business Aviation Association trade group that represents companies that own and charter planes. "We seem to be seeing things stabilize at this point."
Total business jet flights -- privately owned and charter -- rose 7 per cent to 2.84 million in the 12-month period through September, with much of the growth seen in overseas travel.
"People are feeling more confident," said Shirley Mason, a vice president with Argus International Inc, which conducts market research and provides safety management and other services to the business aircraft industry. "Things are starting to improve in the economy."
The best year for business jet traffic was 2007 when the FAA recorded 4.82 million flights.
'Government' Motors
One example is GM, which chartered planes to haul teams of executives to meetings with prospective investors ahead of Thursday's public share offering.
The automaker's return to private travel follows an incident in 2008 when lawmakers berated GM, Ford Motor Co and Chrysler Group executives for taking corporate jets to Washington, DC, to ask the government to help their struggling companies.
GM unloaded its leased fleet during its Treasury-led restructuring but is permitted under terms of taxpayer ownership to charter aircraft in certain cases. The US Treasury does not sign off on each trip, but requires senior executives to do so.
Charters over Corporate Jets
Companies, however, are still reluctant to maintain their own fleets.
Corporate jet sales are off 20.3 percent globally in the first nine months of 2010, compared with the same period last year, the General Aviation Manufacturers Association said in its third-quarter report.
Honeywell International Inc's aerospace unit is forecasting a softer outlook for the sector next year, but expects expansion in 2012.
A sweet spot seems to be chartered jets, which allow executives to fly efficiently to multiple meetings, without the major investment and expense of a corporate fleet. This was the option selected by GM.
Argus found in its latest report using TRAQPak data that overall business aircraft flying rose 10 percent in October, compared with September. Charters were up 11 percent.
Charter rates vary, but generally cost between $1,500 and $6,000 per hour.
"It's cost effective for business to travel efficiently," said Gretchen Collins, vice president of special contracts and business development for CIS Aviation Services Inc, an Albuquerque-based charter broker.
Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
Parag, who reached his 50 off 34 balls, cracked 25 runs with three fours and two sixes off the final over bowled by star South Africa paceman Anrich Nortje
Fans were left scratching their heads when Mumbai opted to take Bumrah out of the attack after he bowled the fourth over
With the help of modern equipment, manicured golf courses and elite athletes the scores are getting lower and the game becoming even more captivating
With 10 matches remaining Arsenal lead a three-way title race having won eight successive games
Three separate Israeli strikes on Wednesday, including on a health centre in the border village of Habariyeh, killed 11 civilians
Netanyahu tries to soothe a rift with Biden as he plans to send a government delegation to Washington after earlier cancelling the trip
Among the 24 horses Japan has sent to Dubai is impressive Riyadh Dirt Sprint winner Remake who eyes a Middle East double