Transcription

1 Hamburg, October 30 th,2017 Hamburg, April 19th, 2017

2 TABLE OF CONTENTS 1. Overall trends in European business aviation activity 2. Geographical distribution of flight activity 3. Trends in fleet size and activity, by aircraft type 4. Mission split, AOC flight hours, Charter pricing trends 5. Estimated Empty Leg activity and trends 6. Distribution of flight activity by sector length 7. Activity trends at busiest European airports 8. Activity by domestic/international and arrivals/departures 9. Activity trends on top European city pairs 10. Trends in utilisation per aircraft unit/type 11. Trends in aircraft activity by aircraft register 12. Flight activity by operator fleet size 13. Operational costs: handling, fuel, passenger fees 14. Estimated total revenues generated, passengers transported 2

3 1. OVERALL TRENDS IN BUSINESS AVIATION ACTIVITY 154,410 business aviation flight departures from Europe in Q1 2017, marking a 5.3% YOY growth in activity. This was the 4 th consecutive quarterly growth, and an acceleration on last 12 month trend. Departures +1,9% ,6% ,3% -0,7% ,3% ,3% -0,7% Quarter 1 Quarter 2 Quarter 3 Quarter 4 YTD

4 2. GEOGRAPHICAL DISTRIBUTION OF FLIGHT ACTIVITY (a) Three countries each had >20K departures in Q1, France, Germany & UK, these markets generating most of the Q1 growth. Central Europe saw strongest growth. Also significant bounce-back in flights from Russia and Turkey. TOTAL EUROPE +5,3% QUARTERLY COUNTRY TRENDS DEPARTURES Q France Germany UK Switzerland Italy Spain Norway Sweden Turkey Austria Russia Netherlands Belgium Finland Czech Republic Poland Denmark Ireland Greece Portugal Ukraine Slovakia 922 Serbia and Montenegro 907 Luxembourg 902 Canary Island 891 Cyprus Romania Hungary Croatia Malta Azerbaijan Bulgaria 458 Slovenia 414 Latvia Kazakhstan,Kyrgyzstan Georgia Belarus 290 Iceland 261 Lithuania 237 Estonia 183 Bosnia and Herzegovina 163 Armenia 160 Gibraltar Macedonia Albania Tajikistan,Turkmenistan,Uzbekistan Moldova 48 Total

5 2. GEOGRAPHICAL DISTRIBUTION OF FLIGHT ACTIVITY (b) AOC flight activity was up >10% in the busiest 4 countries, the UK the busiest in Q1. Private activity trends more mixed, up in Germany, well down in Italy. Busiest air ambulance market in Q1 was Sweden. DEPARTURES / DISTRIBUTION: Q1 / 2017 AOC Ambulance Private Government/Military Other Origin=Destination Flights AOC QUARTERLY TRENDS Private Other France 44% 52% 4% Germany 42% 53% 5% UK 56% 40% Switzerland Spain 60% 32% 8% Norway 91% 6% 3% Sweden 48% 20% 32% Turkey Austria Russia Netherlands 40% 46% 14% Belgium 51% 42% 7% Finland Czech Republic 59% 33% 8% Poland 36% Denmark 48% 31% Ireland Greece Portugal Slovakia Serbia and Montenegro Canary Island Cyprus 39% 31% Romania 41% Hungary 49% Italy 51% 20% 46% 42% 35% 23% % Ukraine 49% 34% 18% 49% Luxembourg 38% 51% 11% % 65% 50% 42% 48% 36% 46% 47% 48% 5% Croatia 43% 51% 21% 31% 14% 11% 21% 65% 13% 10% 17% % Malta 41% 47% 12% 586 9% 5% 6% % 40% 4% % 47% 39% 36% 5% 4% 10% 15% % % 28% 3% ,7% -31,7% -0,9% -4,3% -0,3% 97,4% 2,6% 10,2% -0,6% 15,7% 15,4% -1,3% 11,9% -4,4% 8,4% -10,1% 6,3% 7,6% 17,8% 15,1% -1,2% 12,5% 25,5% -3,0% 12,5% -22,2% 18,2% 26,4% 2,2% 14,7% 16,1% -17,0% 13,4% -8,6% 38,8% 14,7% 8,4% 11,9% 19,3% 23,7% 80,6% 4,5% 7,1% 11,1% 9,7% 34,8% 1,9% 8,4% 7,0% 7,4% 6,4% 3,4% 10,2% 7,9% 14,0% 11,1% 9,6% 0,8% 7,3% 5,8% 3,0% 50,8% -4,2% -8,0% -8,8% -15,4% -10,5% -23,6% -9,3% -25,3% -4,3% -9,3% -18,9% -6,3% -25,8% -22,3% -17,2% -42,4% -14,0% 5,0% 4,5% 12,9% 28,5% 34,6% 13,8% 25,6% 6,8% 17,0% 19,2% 0,0% 20,8% 33,3% Top 30 Other 5

6 2. GEOGRAPHICAL DISTRIBUTION OF FLIGHT ACTIVITY (c) Small Jet activity saw the most consistent growth in Q1, notably in the top 3 markets, Germany the busiest. Medium Jet activity declined from most countries. Spain & Germany also saw strong growth in Large Jet flights. DEPARTURES / DISTRIBUTION: Q1 / 2017 QUARTERLY TRENDS Large Jets Medium Jets Small Jets Propeller Aircraft Large Jets Medium Jets Small Jets Propeller Aircraft France Germany Greece Portugal Ukraine Slovakia 24,5% 10,4% 40,9% Serbia and Montenegro 10,3% 4,9% 70,3% Luxembourg 11,3% 9,4% 50,6% Canary Island Cyprus Romania 29,5% 31,1% 42,1% 15,7% 64,4% 17,6% 30,0% 31,2% Hungary 16,2% 16,2% 35,9% Croatia Malta 13,4% 22,6% 8,7% 34,6% 34,0% 18,2% UK 30,1% Switzerland Italy Norway 6,0% 3,1% 6,4% Sweden 12,3% 6,2% Denmark 19,5% 9,0% 45,0% 27,8% ,7% 22,0% 12,2% 10,1% 48,0% 11,4% 12,8% 27,9% 11,2% 21,5% 33,5% 35,4% 19,3% 30,9% 25,8% 59,7% 33,5% 46,9% 36,2% 19,9% 39,8% 25,0% 24,2% 28,7% 25,5% 31,7% 20,3% 10,5% 8,1% 53,8% 27,6% 39,9% 13,5% 22,2% 24,4% 7,7% 14,6% 4,3% 11,8% 4,0% Turkey 45,5% 26,9% 21,3% 6,3% Austria Russia 70,5% 19,9% 9,0% 0,6% Netherlands 21,1% 10,3% 36,4% 32,1% Belgium 23,5% 6,8% 42,3% 27,4% Finland Czech Republic Poland Ireland 18,9% 14,6% 13,2% 31,5% 28,3% Spain 26,5% 37,6% 11,7% 26,1% 16,9% 49,3% 27,7% 35,0% 12,8% 36,7% 13,6% 37,9% 84,5% 55,4% 16,4% 19,3% 35,4% 39,4% 23,3% 22,0% 14,8% 16,1% 16,3% ,1% -3,2% -4,5% -10,8% -6,3% -8,9% -6,4% -7,1% 97,4% 2,6% -20,0% 5,1% -3,7% 15,0% 6,3% -2,5% -21,1% 18,2% 16,6% -13,0% 17,6% -8,8% 2,9% 4,7% 11,7% -0,6% 0,3% -21,8% -26,7% 9,8% -7,7% 34,4% -12,6% 9,3% -0,5% 17,3% 20,7% 3,0% -3,8% -11,9% 16,3% -17,0% 29,4% -15,1% 20,0% -20,8% 12,1% -3,8% 70,8% 10,4% 0,8% 7,3% -0,4% -3,4% 26,6% 6,0% 1,9% -0,8% -0,8% 7,5% 12,6% -5,0% 14,8% 4,9% 20,3% -10,1% -2,3% 12,0% 17,9% 11,7% -2,4% 10,3% 11,1% 7,3% 9,5% -2,8% 33,7% -4,5% 7,8% -2,3% 15,2% -2,7% 16,9% 5,9% 26,0% 5,1% -16,7% 4,4% 22,9% 1,4% 9,0% -51,5% 34,6% -2,6% 7,0% 4,3% 23,7% -5,7% 10,2% 28,2% -12,4% 12,1% 0,3% 5,3% 5,0% 5,8% 3,0% 36,8% 7,7% 0,7% 16,8% 14,9% 25,8% 23,7% 5,8% 1,9% 41,9% 0,0% 8,6% 44,1% 21,7% 197,9% Top 30 Other 6

7 3. TRENDS IN FLEET SIZE AND ACTIVITY, BY AIRCRAFT TYPE (a) Small Jet flights, 34% of total activity, were up 9% in Q1, despite a slightly smaller YOY active fleet (declining 1%). Large Jet activity increase was mainly generated by a larger active fleet. 136 fewer active Props YOY, flights still +2%. DEPARTURES / DISTRIBUTION / TRENDS ACTIVE AIRCRAFT TAILSIGNS / TRENDS Departures Q % of total Quarterly Trend Active Aircraft Tailsigns Q Quarterly Trend [based on active aircraft] Additions [+/-] Large Jets ,5% 6,6% ,3% 125 Medium Jets ,5% 0,1% 634-2,6% -17 Small Jets ,8% 9,2% ,0% -12 Propeller Aircraft ,1% 1,9% ,8% -136 Total Departures Europe ,0% 5,3% ,6% -40 Business Jet 6,7% Props Business Jet 2,0% 96 Jets 71,9% 28,1% Props Propeller Aircraft 1,9% Jets 72,4% 27,6% Propeller Aircraft -6,8% -136 Total 5,3% Total -0,6% -40 Note: *an aircraft is active if it operates a flight during the Quarter 7

8 3. TRENDS IN FLEET SIZE AND ACTIVITY, BY AIRCRAFT TYPE (b) All but MSJ & Piston segments increased YOY activity, notably VLJ sectors, 6% of all flights, up by 20% in Q1, supported by a 13% growth in the active VLJ fleet. The active business jet fleet in Q1 was 96 units larger YOY. DEPARTURES / DISTRIBUTION / TRENDS ACTIVE AIRCRAFT TAILSIGNS / TRENDS Departures Q % of total Quarterly Trend Active Aircraft Tailsigns Q Quarterly Trend [based on active aircraft] Additions [+/-] Bizliner ,1% 12,0% ,3% 66 Ultra Long Range ,1% 9,6% ,6% 67 Heavy jet ,3% 1,3% ,6% -8 Super midsize jet ,2% 6,0% 357 1,4% 5 Midsize jet ,3% -6,0% 277-7,4% -22 Super Light jet ,4% 5,6% 240-4,0% -10 Light Jet ,4% 10,2% 591-3,1% -19 Entry Level jet ,5% 0,3% 167-2,9% -5 Very Light jet ,5% 20,3% ,0% 22 Turboprop ,9% 3,8% ,0% -40 Piston ,2% -7,6% ,4% -96 Total Departures Europe ,0% 5,3% ,6% -40 Business Jet 6,7% Business Jet 2,0% 96 71,9% 28,1% Propeller Aircraft 1,9% 72,4% 27,6% Propeller Aircraft -6,8% -136 Total 5,3% Total -0,6% -40 Business Jet Propeller Aircraft Business Jet Propeller Aircraft 8

9 4. MISSION SPLIT, AOC FLIGHT HOURS, INDICATIVE CHARTER PRICING TRENDS 47% of all flight hours in Q1 were AOC, HJ segment generating most activity. SMJ, LJ & VLJ activity grew >10% YOY, with MSJ, ELJ & Piston FH well down. Average pricing per hour slightly declined in Q1. FLIGHT HOURS / DISTRIBUTION/ TRENDS AVG. PRICING / TRENDS 100% Commercial AOC Flight Hours Q % of total Quarterly Trend Avg. Price / Hr Quarterly Trend Ultra Long Range ,7% 18,0% ,4% Heavy jet ,1% 10,2% ,2% 47,0% Super midsize jet ,4% 16,5% ,2% Midsize jet ,9% -5,5% ,8% Super Light jet ,6% 3,6% ,4% Light Jet ,6% 17,8% ,2% Entry Level jet ,9% 19,9% ,1% 46,1% Very Light jet ,5% 13,0% ,9% Turboprop ,8% 13,9% ,2% Piston ,4% -11,2% ,8% 1,8% 2,8% 2,4% Total Flight Hours Europe ,0% 11,2% Total Flight Hours Q AOC Business Jet 11,3% Private Ambulance 85,8% 14,2% Propeller Aircraft 10,7% Government/Military "Origin = Destination Flights" [e.g Training] Total 11,2% Note: Bizliners excluded AOC: Aircraft Operating Certificate; certified to provide Charter Business Jet Propeller Aircraft 9

10 5a. ESTIMATED EMPTY LEG [EL] ACTIVITY - DEPARTURES [BUSINESS JETS AOC ONLY] An estimated 58% of AOC sectors in Q1 were passenger-occupied, with the 22K empty legs concentrated around SLJ & LJ activity. YOY, the declining MSJ & ELJ activity was reflected in a drop in empty legs in these segments. BUSINESS JET DEPARTURES Q1 / 2017 EMPTY LEGS / DISTRIBUTION/ TRENDS 100% % Empty Legs: Departures Q % of total empty legs within segment Quarterly Trend Additions (+/-) Ultra Long Range ,7% 10,8% ,4% Heavy jet ,7% 2,3% 71 56,0% Super midsize jet ,1% 18,9% 296 Midsize jet ,6% -13,9% -296 Super Light jet ,2% 6,8% 246 Light Jet ,4% 17,0% ,6% 39,1% Entry Level jet ,8% 4,8% 46 Very Light jet ,6% 19,0% 315 1,5% 1,1% 2,2% Total Empty Legs Europe ,4% 8,6% Total Departures Q AOC activity AOC Private Ambulance Empty Pax occupied Government/Military "Origin = Destination Flights" [e.g Training] Note: Bizliner excluded 10

11 5b. ESTIMATED EMPTY LEG [EL] ACTIVITY - HOURS [BUSINESS JETS AOC ONLY] In terms of FH, the empty leg ratio was far lower, an estimated 16% of AOC FH in Q1. Small Jet segments has around 20% EL ratio, Large Jets closer to 10%. SMJ ELs showed a large YOY increase in Q1. BUSINESS JET HOURS Q1 / 2017 EMPTY LEGS / DISTRIBUTION/ TRENDS 100% % Empty Legs: Flight Hours Q % of total empty legs within segment Quarterly Trend Additions (+/-) 14,7% Ultra Long Range ,4% 9,3% 97 Heavy jet ,6% 2,6% 50 52,4% Super midsize jet ,3% 20,2% 196 Midsize jet ,4% -15,9% -211 Super Light jet ,7% 7,2% ,3% Light Jet ,2% 17,0% ,8% Entry Level jet ,1% 8,5% 48 Very Light jet ,1% 20,9% 220 1,7% 0,9% 2,3% Total Empty Legs Europe [hours] ,7% 8,8% Total Flight Hours Q AOC activity AOC Private Ambulance Government/Military "Origin = Destination Flights" [e.g Training] Empty Pax occupied Note: Bizliner excluded 11

12 6. DISTRIBUTION OF FLIGHT ACTIVITY BY SECTOR LENGTH 65% of all sectors flown in Q1 were max 1.5H, these increasing 5% YOY, the main impetus from Small Jets. 24% of all Large Jet flights were 1.H-3H, these growing 8% YOY. Biggest decline was -17% in MSJ 3H-6H sectors. DEPARTURES / DISTRIBUTION: Q1 / 2017 QUARTERLY TRENDS max. 1.5 h 1.5h to 3h 3h to 6h more than 6h Total Large Jets 48,8% 23,9% 16,0% 11,3% ,7% 7,7% 4,9% 6,7% 6,6% Medium Jets 59,9% 26,2% 13,1% 0,8% ,1% -2,3% 7,8% -16,9% 0,1% Small Jets 72,4% 23,6% 0,6% ,4% 9,7% 7,9% 10,2% 4,4% 9,2% Propeller Aircraft 75,0% 19,6% 4,0% 1,5% ,7% 4,6% 15,1% -4,1% 1,9% Total Departures Europe 65,4% 22,8% 8,0% 3,7% ,0% 5,6% 7,5% 4,5% 5,3% max. 1.5 h 1.5h to 3h 3h to 6h more than 6h 100% 12

13 7. ACTIVITY TRENDS AT BUSIEST EUROPEAN AIRPORTS (a) Le Bourget generated the largest number of departures in Q1, also adding most YOY growth. Zurich and Linate were the only top 10 airports to see any YOY decline. Activity at Vnukovo bounced back, +13% YOY in Q1. Departures Q Quarterly Trend LFPB,LE BOURGET LSGG,GENEVA EGGW,LUTON LSZH,ZURICH UUWW,VNUKOVO EGLF,FARNBOROUGH LFMN,NICE COTE D AZUR LIML,LINATE EDDM,MUNCHEN LOWW,VIENNA SCHWECHAT LIRA,CIAMPINO EDDB,SCHOENEFELD EGKB,BIGGIN HILL LEMD,BARAJAS EDDS,STUTTGART LFLB,AIX LES BAINS EGWU,NORTHOLT LKPR,VACLAV HAVEL EDDK,KOLN BONN LTBA,ATATURK EGSS,STANSTED EHAM,SCHIPHOL LSZB,BELP EBBR,BRUSSELS NATL LEBL,BARCELONA LOWI,INNSBRUCK INTERNATIONAL LOWS,SALZBURG - W.A. MOZART Top 30 LSGS,SION ,2% EDDL,DUSSELDORF 976 LFLY,BRON 910 7,7% 2,6% 3,8% -2,0% 12,7% 4,8% 10,0% -1,3% 7,9% 5,7% -4,9% 24,5% 10,1% 10,8% 6,8% 7,3% 7,4% 10,1% 17,7% 2,5% 31,9% 1,7% -5,1% 0,6% 2,6% 12,7% 5,4% 5,9% 65,8% 15,9% 0,7% Other European Airports Note: UUWW Vnukovo, is not shown, otherwise map would be distorted Piston Aircraft (frequently used for Training) are excluded in the analysis on this page. 13

14 7. ACTIVITY TRENDS AT BUSIEST EUROPEAN AIRPORTS (b) AOC activity was busiest by far at Le Bourget, growing 15% in Q1. Many of the other top 10 airports also had double digit AOC growth, +21% at Vnukovo. Private flights declined at most airports (noting Munich and Schoenefeld exceptions). DEPARTURES / DISTRIBUTION: Q1 / 2017 AOC Ambulance Private Government/Military Other Origin=Destination Flights AOC QUARTERLY TRENDS Private Other LFPB,LE BOURGET 57% 41% 2% LSGG,GENEVA 57% 41% 2% EGGW,LUTON 61% 37% 2% LSZH,ZURICH 51% 42% 6% UUWW,VNUKOVO 66% 34% 0% EGLF,FARNBOROUGH 62% 37% 1% LFMN,NICE COTE D AZUR 64% 34% 2% LIML,LINATE 58% 41% 2% EDDM,MUNCHEN 55% 41% 4% LOWW,VIENNA SCHWECHAT 65% 32% 3% LIRA,CIAMPINO 55% 24% 21% EDDB,SCHOENEFELD 52% 46% 2% EGKB,BIGGIN HILL 60% 38% 3% LEMD,BARAJAS 70% 29% 1% EDDS,STUTTGART 44% 51% 5% LFLB,AIX LES BAINS 66% 33% 1% EGWU,NORTHOLT 72% 27% 1% LKPR,VACLAV HAVEL 70% 28% 2% EDDK,KOLN BONN 63% 33% 4% LTBA,ATATURK 30% 64% 7% EGSS,STANSTED 33% 60% 7% EHAM,SCHIPHOL 61% 36% 3% LSZB,BELP 52% 38% 9% EBBR,BRUSSELS NATL 61% 34% 5% LEBL,BARCELONA 61% 34% 5% LOWI,INNSBRUCK INTERNATIONAL 67% 25% 8% LOWS,SALZBURG - W.A. MOZART 44% 54% 2% LSGS,SION 56% 42% 2% EDDL,DUSSELDORF 52% 45% 3% 976 LFLY,BRON 38% 61% 1% Top 30 34,2% -1,0% -38,9% -3,6% 65,8% Other 14,7% 12,1% 11,3% 5,1% 20,8% 17,6% 16,8% 3,9% 14,8% 7,6% 42,3% 21,4% 12,6% 0,0% 22,4% 15,0% 15,1% 31,8% 78,6% 6,9% 5,6% 5,3% 24,8% 5,3% 27,6% 18,9% 7,5% -0,9% -6,9% -6,0% -6,3% -11,0% -1,1% -1,5% -7,3% -17,7% -0,9% -14,1% -6,8% -16,6% -0,6% -13,5% -3,8% 0,3% 15,2% 11,5% 10,3% 16,8% 0,9% 2,5% 21,8% 0,5% 18,6% 7,1% 8,2% 11,5% 55,8% -22,8% -7,0% -21,3% -35,7% -11,4% -8,8% -4,3% -14,0% -15,3% -15,9% -28,8% -44,0% -15,9% -26,1% -9,7% -22,2% -17,8% -13,0% -41,5% -5,6% -33,8% -11,1% -33,1% -40,0% -5,3% 8,9% 19,4% 33,3% 40,0% 57,1% 14

15 7. ACTIVITY TRENDS AT BUSIEST EUROPEAN AIRPORTS (c) Small Jet activity had consistently strong growth across all top airports in Q1, +18% at Zurich, +23% from Schoenefeld. Medium Jet activity was well up from Farnborough, Nice, Vnukovo. Main growth in Large Jets was from Le Bourget. DEPARTURES / DISTRIBUTION: Q1 / 2017 QUARTERLY TRENDS Large Jets Medium Jets Small Jets Propeller Aircraft Heavy Jets Medium Jets Small Jets Propeller Aircraft LFPB,LE BOURGET 35,5% 12,6% 38,2% 13,6% LSGG,GENEVA 39,9% 15,2% 35,3% 9,7% EGGW,LUTON 54,8% 14,7% 28,4% 2,1% LSZH,ZURICH 41,5% 13,3% 34,6% 10,6% UUWW,VNUKOVO 74,8% 17,4% 7,6% 0,2% EGLF,FARNBOROUGH 49,3% 18,3% 23,4% 10,9% 9,0% LFMN,NICE COTE D AZUR 37,3% 18,4% 33,5% LIML,LINATE 35,1% 15,8% 40,7% 8,5% EDDM,MUNCHEN 35,4% 16,2% 36,2% 12,1% LOWW,VIENNA SCHWECHAT 30,1% 19,6% 45,4% 4,9% EDDS,STUTTGART 26,0% 6,7% 44,6% 22,7% LFLB,AIX LES BAINS 36,0% 19,3% 33,2% 11,5% EGWU,NORTHOLT 38,3% 22,5% 35,5% 3,8% LKPR,VACLAV HAVEL 24,4% 15,1% 44,5% 16,0% EDDK,KOLN BONN 25,3% 8,5% 54,2% 12,0% LEBL,BARCELONA 37,5% 16,4% 37,6% 8,5% LOWI,INNSBRUCK INTERNATIONAL 15,8% 24,8% 47,0% 12,4% LOWS,SALZBURG - W.A. MOZART 14,2% 10,9% 59,4% 15,5% LSGS,SION 21,4% 12,8% 45,6% 20,1% EDDL,DUSSELDORF 16,7% 14,8% 57,9% 10,7% 976 LFLY,BRON 11,9% 52,7% 29,0% 910 6,4% LIRA,CIAMPINO 43,3% 13,6% 26,8% 16,2% EDDB,SCHOENEFELD 28,3% 15,0% 48,5% 8,2% EGKB,BIGGIN HILL 23,7% 15,1% 45,7% 15,4% LEMD,BARAJAS 44,2% 13,9% 36,3% 5,6% LTBA,ATATURK 62,9% 23,9% 1,9% 11,3% EGSS,STANSTED 61,0% 9,0% 22,0% 7,9% EHAM,SCHIPHOL 31,9% 15,2% 43,5% 9,3% LSZB,BELP 29,0% 14,0% 35,1% 21,9% EBBR,BRUSSELS NATL 33,2% 9,1% 47,9% 9,8% ,0% 64,0% -1,1% -10,0% -2,9% -6,3% -6,3% -4,5% -9,7% -9,0% -10,4% 6,5% -2,0% -4,9% 1,4% -6,2% -6,7% 13,1% 3,3% -20,3% 7,1% 13,3% -0,9% -31,1% 31,8% 22,3% -7,4% 14,0% 15,5% 11,6% 0,6% -5,3% 8,1% -4,7% 18,5% -20,5% 21,8% -13,8% 1,1% -15,0% 20,0% -5,0% 2,1% -5,1% 24,1% 50,9% 20,0% -14,7% 12,4% 19,0% 11,4% 12,7% 42,8% 19,9% 15,4% 4,5% 30,1% -9,4% 88,7% 18,9% -15,2% 21,3% 21,7% 22,0% 11,5% 10,0% 17,0% -9,0% 18,0% -13,8% 6,9% 10,9% 12,9% 16,5% -8,2% 9,7% -0,5% 6,0% -9,1% 13,8% 23,4% -9,5% 19,9% -8,8% 5,6% 1,0% 14,4% -14,4% 23,5% 20,3% 15,4% 27,1% 11,6% 9,0% -18,1% 0,8% -27,3% 23,7% -2,3% 15,3% -13,5% 5,5% -14,0% 10,8% 11,6% -1,9% -16,5% 10,4% 6,2% 200,0% 10,3% 25,7% 3,9% 1,3% 7,4% 3,8% 7,8% 45,5% 103,0% 110,0% 120,0% 47,1% Top 30 Other 15

16 8. ACTIVITY BY DOMESTIC/INTERNATIONAL AND ARRIVALS/DEPARTURES Business aviation flights within Europe were up by 5.2% in Q1, and connected 40,272 unique airport pairs. Stronger growth in arrivals into Europe, 9,507 flights, up 7.1%. Similarly, flights departing Europe grew 6.3% YOY. -0,7% +5,2% ,4% +6,3% +1,6% +7,1% Europe Domestic [Departures]* Intl. Flights [Departures]** Intl. Flights [Arrivals]*** Q Q Q # of unique airport pairs served Europe domestic* Intl. Flights [Departures]** Intl. Flights [Arrivals]*** BizAv Airport pairs served Q Note: *) e.g. Geneva --> Paris Le Bourget **) e.g. London Luton --> New York Teterboro ***) e.g. Singapore Seletar --> Brussels 16

17 9. TRENDS ON TOP EUROPEAN AIRPORT PAIRS [EUROPEAN DOMESTIC FLIGHTS ONLY] Busiest pair for intra-european activity was LFPB-LSGG, with 473 departures, growing 4.4%. Notable decline in flights connecting LIML-LIRA, -29%. Stand-out gains from EGGW to LFPB & LSGG, also on LTBA-LTAC and from LFPB to LIML. DEPARTURES / AIRPORT PAIR: Q LFPB-LSGG 473 LSGG-LFPB 470 LFMN-LFPB 184 LIML-LIRA 183 LIML-LFPB 177 EGGW-LFPB 176 LSGG-EGGW 175 LFPB-EGGW 173 LTBA-LTAC 172 EGGW-LSGG 170 LFPB-LFMN 170 ENTC-ENAT LFPB-LIML LIRA-LIML 167 EGLF-LFPB 159 LFPB-EGLF 155 LSGG-LFMN LTAC-LTBA LFMN-UUWW EGNL-EGGD 150 LFMN-LSGG 150 EGGD-EGNL 148 ESPA-ESUP 140 ESUP-ESPA UUWW-LFMN LFPB-LFLB 128 LSGG-EGLF 128 EFHK-EFJY LTFJ-LTAC EGLF-LSGG 124 LEBL-LEMD 123 EGNL-EGLF 122 EGLF-EGNL 122 LEMD-LEBL 121 LFPB-LSZH 118 LTAC-LTFJ 116 EFJY-EFHK 116 LFLB-UUWW 113 LFPB-LFBD 112 LSGG-LSZH 111 LFLB-LFPB 111 LSZH-LFPB 109 UUWW-EGGW 109 UUWW-LIME 108 LIME-UUWW 107 ENAT-ENTC 105 Top 50 5,3% 94,7% ENHF-ENTC 105 ENAT-ENHF 104 LOWW-LOWI 104 ENVA-ENAL 102 Other airport pairs -28,5% -30,1% -2,9% -0,7% -11,2% -11,4% -8,5% -11,1% -6,1% -10,5% -1,8% -5,6% Quarterly trend 4,4% 3,4% 35,1% 2,3% 27,7% 4,8% 29,3% 33,9% 5,6% 8,3% 27,3% 8,9% 6,2% 5,6% 12,7% 2,7% 4,5% 5,3% 19,6% 22,1% 18,7% 21,8% 7,0% 5,2% 13,1% 19,2% 10,5% 24,7% 17,7% 6,7% 4,8% 0,9% 31,7% 30,5% 18,0% 38,2% 18,2% 108,0% Note: Excluding Origin=Destination Flights 17

18 9. TRENDS ON TOP EUROPEAN AIRPORT PAIRS [EUROPEAN DOMESTIC FLIGHTS ONLY] Measured by flight hours, connections with UUWW ranked highest for intra-european flights, with significant YOY growth on LFLB-UUWW, UUWW-EDDK & UUWW-LIME. EGGW-LSGG was up >30% YOY. FLIGHT HOURS / AIRPORT PAIR: Q Europe domestic only LFMN-UUWW 484 UUWW-LFMN 445 LSGG-LFPB 412 LFPB-LSGG 394 UUWW-EGGW 377 LFLB-UUWW UUWW-LIME UUWW-LFLB LIME-UUWW UUWW-LSGG LSGG-UUWW EGLF-UUWW 271 UUWW-EDDK 267 EGGW-UUWW 261 LCLK-UUWW 253 UUWW-EGLF LSGG-EGGW UUWW-LFPB LFMN-LFPB UUWW-LCLK 234 EGGW-LSGG 228 EDDK-UUWW 224 UUWW-EDDM 223 LIML-LFPB 211 LFPB-LFMN 209 LFPB-UUWW 209 LCRA-EGVN 206 LSZH-UUWW 197 UUWW-LSZH LFPB-LIML ESCF-ESCF UUWW-EDJA EDDM-UUWW EGGW-LFMN EDJA-UUWW 171 LSGG-EGLF 168 UUWW-LOWW 163 UUWW-LIML 160 EGGW-LFPB 156 EGLF-LSGG 154 LOWW-UUWW 152 LFPB-EGGW 151 LFMN-EGGW 150 UUWW-LYBE 148 LIML-LIRA 147 LSZH-EGGW 146 LIRA-LIML 143 5,7% 94,3% EGGW-LSZH 131 EGVN-LCRA 129 EGNL-EGGD 128-9,7% -2,0% -3,3% -24,9% -23,7% -11,1% -6,8% -5,8% -28,6% -31,4% -0,9% -0,3% -7,3% -13,1% -11,7% -1,3% -2,0% -33,9% -8,8% Quarterly trend 2,9% 5,8% 20,8% 29,8% 35,4% 15,3% 32,8% 93,1% 80,4% 7,8% 28,3% 116,3% 34,6% 78,3% 81,7% 35,3% 4,8% 13,3% 28,3% 22,7% 43,0% 14,7% 35,7% 4,0% 10,0% 4,7% 26,1% 31,2% 27,8% 136,2% 136,2% Note: Excluding Origin=Destination Flights Top 50 Other CityPairs [Europe domestic] 18

19 10. TRENDS IN UTILISATION PER AIRCRAFT UNIT/TYPE [EUROPEAN DOMESTIC FLIGHTS ONLY] 5,919 individual tails were active in Europe in Q1 2017, with SLJ segment posting highest utilisation. The active VLJ & ULR fleet increased by most. Overall, aircraft utilisation grew 1.9%, up by most for Light Jet segment. HRS. PER AIRCRAFT / ACTIVE AIRCRAFT / TRENDS Avg. FH / Aircraft Unit [per Qtr.] Active Aircraft Q Quarterly Trend [Aircraft Activity] Quarterly Trend [Growth, in Aircraft units ] Bizliner 27, ,0% 15 Ultra Long Range 16, ,8% 49 Heavy jet 26, ,3% -1 Super midsize jet 41, ,6% 0 Midsize jet 46, ,5% -27 Super Light jet 77, ,4% -7 Light Jet 48, ,3% -22 Entry Level jet 37, ,0% -1 Very Light jet 48, ,4% 22 Turboprop 31, ,9% -42 Piston 10, ,2% -96 Europe domestic only Total Average 31, ,9%

20 11. TRENDS IN AIRCRAFT ACTIVITY BY REGISTER [EUROPEAN DOMESTIC FLIGHTS ONLY] The D register saw an additional 34 active units in Q1 2017, increasing the activity of this registered fleet by 9%. The UK register was also up. Both N and M registers had fewer active aircraft YOY. The active 9H fleet was up by 21 units. FLIGHTHOURS PER AIRCRAFT REGISTER / ACTIVE AIRCRAFT / TRENDS Flight Hours: Q % of total Europe Active Aircraft Q Quarterly Trend [Aircraft Activity] Quarterly Trend [Growth, in Aircraft units ] D-[Germany] ,0% 738 9,2% 34 CS-[Portugal] ,2% 116 9,7% -4 G-[United Kingdom] ,6% 301 8,2% 7 F-[France] ,5% 346 4,0% -1 OE-[Austria] ,1% 218 9,9% -5 N-[United States of America] ,1% ,8% -16 M- [Isle of Man] ,0% ,8% -31 9H-[Malta] ,9% ,2% 21 HB-[Switzerland] ,0% 204-4,5% 6 OK-[Czech Republic] ,0% 98 28,0% 13 TC-[Turkey] ,7% ,5% -1 LX-[Luxembourg] ,7% 78 2,8% -2 LN-[Norway] ,3% 33 6,1% -10 VQ-B [Bermuda] ,0% 59 23,4% -5 SE-[Sweden] ,0% 75-7,1% -6 I-[Italy] ,0% 144-3,9% -21 EC-[Spain] YU-[Serbia] ,9% 1,8% ,2% 24,3% -5 5 Europe domestic only OO-[Belgium] ,4% 19,6% 1,6% 66 13,9% 4 OY-[Denmark] ,4% 72-2,5% -9 Top 20 Other 20

21 12. AIRCRAFT ACTIVITY BY OPERATOR FLEET SIZE [EUROPEAN DOMESTIC FLIGHTS ONLY] Some decline in Q1 flight hour activity for the smallest fleets, 1-5 tails. These operators generated 59% of all activity. Substantial growth for the larger fleets, FH up 18% for 6-20 tail operators, and up 20% for the fleets >20 tails. OPERATOR SIZE / TRENDS / ACTIVE AIRCRAFT Flight hours Q % of total Europe Quarterly Trend [Aircraft Activity] Active Aircraft [in Operator category]: Q Flight Hours / Aircraft Unit: Q more than ,4% 20,4% ,3 6 to ,1% 18,4% ,0 2 to ,6% -8,5% ,2 1 aircraft only ,9% -1,8% ,6 Europe domestic only Total ,0% 5,3% ,1 Note: Bizliner and flights operated by Government / Military are excluded Page: 21

22 13. OPERATIONAL COSTS: HANDLING; FUEL; PAX TAX [EUROPEAN DOMESTIC FLIGHTS ONLY] Very Light Jets operated 5.9% of European flights in Q1, of which 72% were Citation Mustang sectors. This translates into an estimated 6.6M DOC, of which handling fees approx. 2.8M, and fuel burn of 2.4K tons. Q1-2017: MARKET VALUATION IN TERMS OF DIRECT OPERATIONAL COSTS FOCUS: CITATION MUSTANG OTHER KPIs 100% ,9% 100% % ,8% 66,7% ,1% ,2% 33,3% Total European domestic flights Q Total VLJ Total Operational Cost: Q [Citation Mustang] Total Handling Costs Operational at Airports Cost: Q Fuel Cost Other Airfield Costs Airfield Passenger Fees Passenger Taxes Charter Revenue [quoted] Passengers [Private+Charter] Fuel burn [in tons] Very Light Jet Other Citation Mustang Other VLJs AOC Private % of total 100,0% ,8% 29,9% 22,0% 3,8% 1,5% Europe domestic only Note: Operational costs do not include crew, personnel or aircraft maintenance Page: 22

23 14. TOTAL REVENUES GENERATED [EUROPEAN DOMESTIC FLIGHTS ONLY] Q1 business aviation aircraft activity in Europe generated an estimated 319M revenues, transporting round 400K passengers, generating a fuel burn of 70K tons. Q1-2017: MARKET VALUE IN TERMS OF ESTIMATED REVENUE, PASSENGERS, FUEL BURN Europe domestic only Estimated revenues Passenger transported Fuel burn [in tons] Note: methodology for estimated Charter Revenue is to isolate a) AOC Charter hours b) Occupied only c) Domestic Europe Page: 23

24 15. BUSINESS AVIATION VS AIRLINE OPERATION The 40,272 airport pairs connected by business aviation within Europe in Q1 compare to 7,208 linked by airlines. 9% of the airports linked by business aviation in Q1 were also connected by scheduled airlines. # of unique airport pairs served [Q1-2017] Europe domestic* Intl. Flights [Departures]** Intl. Flights [Arrivals]*** # of unique airport pairs served[q1-2017] BizAv-Airport Pairs served: Q Airline- Airport Pairs served : Q Europe domestic* Intl. Flights [Departures]** Intl. Flights [Arrivals]*** Airport Pairs [served by BizAv only] Overlap factor 10 9,0% 8,2% 7,6% 5 0 Note: *) e.g. Geneva --> Paris Le Bourget **) e.g. London Luton --> New York Teterboro ***) e.g. Singapore Seletar --> Brussels Airline [e.g. KLM, British Airways, Air France, EasyJet, Lufthansa, ] Overlap Factor [BizAv vs Airline Ops.] Page: 24

25 DEFINITIONS (1) ACTIVITY COVERAGE This report covers business aviation activity, corresponding to all non-scheduled flights operated under Instrument Flight Rules (IFR) which correspond to fixed-wing single- and multi-engine business aviation aircraft categories. Broadly these categories are defined as: Heavy Jets, Medium Jets, Light Jets, Props. These categories are also broken down into the following segments: Ultra-Long range jets, Heavy jets, Super midsize jets, Midsize jets, Superlight jets, Light jets, Entry level jets, Very light jets. Specific types of Airliner (Bizliner), Turboprop and Piston aircraft have also been included in the Report. The geographical coverage of this report corresponds to all such business aviation flights connecting to and from 46 countries in the European area (reference map page 4). This includes both flights within this area, and between this area and the rest of the world. The principal measurement of activity is flight departures from the defined geographic area, broken down into flights to destinations within the area ( domestic ) and flights to destinations in the rest of the world ( ROW ). Also arrivals into the European area from the rest of the world are featured. Overflights are excluded. Aircraft activity data is sourced from EUROCONTROL, Civil Aviation Authorities, National Business Aviation Associations. Aircraft performance data is sourced from Original Equipment Manufacturers. The report covers all types of Private (owner) and Commercial (AOC) flights, and also Other flights, including Air Ambulance/Medical, Government & Military, and Origin=Destination Flights, mainly Training, but also including Maintenance, Check and Demonstration flights. Airport handling fees, Airfield fees, Fuel costs, Passenger Taxes and Charter Fees are sourced from Stratajet. Aircraft Charter Price trends and Passenger loads are sourced from PrivateFly. Empty Legs are estimated by WINGX, based on flight pattern analysis, sector length, mission and aircraft type. All data analysis is carried out by WINGX through our proprietary activity tracking and data processing methodology. 25

26 DEFINITIONS (2) - AIRCRAFT TYPE COVERAGE 140 different aircraft types (EG Challenger 600 platform is one type; see over for detail) are covered in this report, including 19 types of Light Jet, 14 types of Heavy Jet. This fleet generated 154,510 departures in Q References pages 3, 8. Covered Aircraft Types Departures Q Bizliner Ultra Long Range Heavy jet Super midsize jet Midsize jet Super Light jet Light Jet Entry Level jet Very Light jet Turboprop Piston Total

27 DEFINITIONS (3) - AIRCRAFT TYPE COVERAGE Note: Aircraft set specified by EBAA as of September 2017, also added C55B, E35L, E550. E45X as they became available. 27

28 In collaboration with WINGX Advance, this report is provided solely to EBAA Members for information purposes only and no representation, warranties or other assurances, express or implied, are given as to the quality, accuracy, or completeness of the information contained in, or provided in connection with the report. Recipients of this report must determine for themselves whether any matters referred to are suitable for their purposes. Neither EBAA nor any of their affiliates, agents, partners, representatives, consultants or any other company, firm or organisation involved in producing this report, nor any of their successors or assign or any employees, officer or director of any of them shall have any liability with respect to the use or reliance on the report by any person, irrespective of any negligence, omission or default, on the part of the foregoing persons. Any reproduction or publication of this report, in whole or in part, is strictly forbidden without the written consent of the EBAA 28