Business Aviation (BA) is an important segment of nonscheduled air transport, providing personalized solutions for business trips by air. Unlike scheduled air transport or holiday charters, BA has hardly been dealt with in the academic literature. This chapter gives insight into the structure and key economic effects of the European (EU28 + EFTA) BA sector. Hereby, we differentiate between the sector’s macroeconomic footprint, in terms of jobs or gross value added (GVA), and the generation of business efficiencies and connectivity benefits for the users. Based on our own data collection and input-output analyses using data from the World Input-Output Database and Eurostat, we find that the effect of BA over the EU28 GVA is almost 0.2%. Also, some 374,000 European jobs are directly or indirectly dependent on the sector’s activities, which is more than the total number of jobs in, e.g., Cyprus. More than half of these jobs stem from the operation of business aircraft and from closely related operational services like maintenance (“MRO”) and handling (“FBO”), while the remaining employment occurs in the production of business aircraft and parts. Comparing actual European BA flights against their fastest commercial travel alternatives, key efficiencies came to light, such as average travel time savings of 127 minutes per flight, annual savings of about € 15 million in overnight hotel costs and an average 150% increase in productive work time for the travelers. Furthermore, we find that BA can significantly improve connectivity, as it serves about 25,000 city pairs not connected by nonstop scheduled air services.
Chapter 7 The Economic Footprint of the Business Aviation Sector in Europe
Airline economics in Europe ; 137-166
2019
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Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
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