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09/05/2016 05:38 AST
Sales of new private aircraft fell 16 per cent in the first quarter from a year ago as demand weakened for the largest planes.
Jet airplane billings were about $3.53 billion in the first quarter, down from $4.2 billion a year earlier, according to the General Aviation Manufacturers Association. That was the biggest decline in almost five years.
Demand for large-cabin business jets has deteriorated amid a dearth of spending from the oil industry, a strengthening dollar and low commodity prices that are sapping purchases in some emerging-market countries.
Manufacturers including General Dynamics Corp’s Gulfstream unit and Bombardier shipped 34 large jets in the quarter, down from 46 a year ago. Those jets fetch higher prices, which skew the sales amount.
A Gulfstream G650, the largest purpose-built business jet that can fly from New York to Tokyo, has a list price of more than $65 million.
Shipments of medium-sized jets increased to 76 from 69, a sign that smaller US companies are still returning to the market as customers. Excluding Dassault Aviation, which doesn’t report first-quarter shipments, 122 total business jets were delivered in the first three months of the year, down from 128.
The National
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
Index | Closing | Change |
---|---|---|
NIKKEI 225 | 21,292.29 | -96.29 (-0.45 |
DAX | 12,002.45 | -94.28 (-0.77 |
S&P 500 | 2,614.45 | 32.57 (1.26 |
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The government of
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