Honeywell Sees Private-Jet Flights Recovering to Normal in 2021
- Industry is poised for speedier rebound than after 2008 crisis
- New luxury-plane sales face longer slog, engine maker says
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Private-jet flights are poised to regain their 2019 levels next year as the industry rebounds from a much shallower decline than after the 2008 financial crisis, according to Honeywell International Inc.
The drop in takeoffs and landings will ease to only about 15% in the fourth quarter from a year earlier and will recover fully by mid-2021, Honeywell said Tuesday in an annual survey of 1,050 private-jet operators. By comparison, flights tumbled 76% in April in the U.S., Canada and the Caribbean, according to another data provider, Argus International Inc.’s TraqPak database.