Business Travel Executive, February 2019

BUSINESS AVIATION Stars in the Sky 12Business Travel Executive FEBRUARY 2019 tion FAA Nextor estimated the annual costs of delays direct cost to airlines and passengers lost demand and indirect costs in 2017 to be 266 billion And then theres the big squeeze as airlines install more seats and reduce pitch Passenger numbers continue to grow there were more than 201 million additional passengers flying on US airlines in 2017 than there were in 2005 according to the Department of Transportations Bureau of Transportation Statistics But at the same time US carriers actually operated 16 million fewer flights in 2017 than in 2005 In the coming decade USTA predicts many airports across the nation will be at preThanksgiving congestion at least twice a week Ultimately those who travel want to save time when possible be productive and have a pleasant experience while accomplishing their business goals says Global Business Travel Association COO Michael McCormick A better understanding of the routine challenges business travelers face can help organizations better serve their road warriors as they diligently work to provide the right tools resources and policies At a time when the war for talent is intensifying businesses need to calculate the impact of airline travel on employees Road warriors find the time spent in transit the most challenging aspect of their entire job according to a survey by the GBTA and Sabre This same study showed 79 percent and 88 percent of Millennials said travel impacted their overall job satisfaction Equally important that same majority said the quality of travel impacted their business results In fact 62 percent of Millennials believe the main benefit of business aviation is getting people where they need to go and when they need to get there according to a recent study by the European Business Aviation Association EBAA The report Expanding Horizons How Millennials see the Future of Business Aviation also noted this group sees it as more sustainable In addition these digital natives like the ridesharing options with 60 percent ready to book flight sharing air services Airlines design their schedules specifically for their own efficiency planners are not necessarily motivated by considerations of the impact their decisions have on business travel efficiency and the bottom line results for other organizations Today businesses of all sizes are looking to be more competitive in their markets and better positioned to attract and retain great employees The goal is higher productivity and better financial results And for many that means considering the entire value proposition of business aviation Users of these services have already discovered the cost of business aviation pays for itself in the end BTE AIRPORTS ACCESSED BY SME BUSINESS AVIATION USERS Limited or No Scheduled Airline Service 48 Secondary Airport 33 Commercial Airport 19 SOURCE BUSINESS AVIATION AN ENTERPRISE VALUE PERSPECTIVE The FAA estimated the annual costs of delays in 2017 to be 266 billion