Business jet firms predict better 2012

The business jet industry is expecting 2012 to mark its first year of growth in deliveries since the financial downturn, but more pain could still be ahead for the low end of the segment that has been hardest hit. "2011 did not play out as we expected to see the growth and orders being placed, so we're shifting our hopes to 2012," said Jens Hennig, vice-president of operations at the General Aviation Manufacturers Association, a Washington, DC-based international group that tracks non-commercial aviation. Honeywell International, maker of avionics and engines, also thinks better times are coming. Low point "We believe 2011 will be the low point," said Rob Wilson, president of Honeywell's business and general aviation unit. Unit deliveries will rise three to five per cent in 2012 as new models such as the long-range Gulfstream G650 enter service, Honeywell projected in its annual business aviation outlook released on Saturday. Demand for business jets fell in 2009 after five years of growth in deliveries as companies clamped down on spending after the global financial crisis peaked in 2008 and tighter credit made purchases difficult.