MARKET SURVEY - Mood & Intentions: Asia Pacific Region 2019 Q1 (PART 2)
Part 2 - AIRCRAFT UTILIZATION: REGIONAL DIFFERENCES
In Q1, 27% of respondents in the surveyed area said their expected aircraft utilization had decreased, which seems to be a good sign for 2019 as the number has continued increasing for the past two quarters. Additionally, 45% of respondents said their aircraft utilization had increased, which is a 4% decline compared with last quarter.
* An Optimistic-Pessimistic Signal Line has been added to regional aircraft usage trend analyses for Greater China, Oceania and South and East Asia regions. An optimistic mood is derived from more people indicating ‘higher’ aircraft utilization compared with 12 months ago, while a pessimistic mood is derived from more people indicating ‘lower’ aircraft utilization compared with 12 months ago.
26% of respondents indicated their aircraft utilization in Q1 2019 increased, which continues to be the lowest level recorded. 41% of respondents stated their aircraft utilization decreased compared with 12 months ago, which is a similar level compared with previous quarters’ result.
This could be the result of raised concerns from China’s economy outlook of 2019: China’s newly released economic data of 2018, the government’s plan to rebalance — transitioning its economy from focusing on external demand to domestic demand — and the ongoing trade conflict between China and the US.
42% of respondents have indicated their aircraft utilization increased, a 3% decline from 2018 Q4. 26% of respondents indicated their aircraft utilization decreased, 4% lower than the previous quarter.
Southeast and Northeast Asia
In Q1 2019, 60% of respondents recorded increased aircraft utilization, which is 4% higher compared with 2018 Q4. 17% of respondents believe that their aircraft utilization decreased, which is 8% lower compared with the previous quarter.
In Q4’s market survey, ASG recorded over 60 rankings from the Asia-Pacific region regarding the satisfaction factors of management companies and those of charter brokers. Over 200 respondents answered questions regarding end users’ travel behaviors.
Similarly, compared to previous quarters, when asking “Do you or your client own or charter a private aircraft?”, 12% of respondents only charter an aircraft, while 39% just own a private aircraft. The remaining 49% would both own and charter an aircraft, implying that to charter an aircraft is reasonable for those who already own one.
On the charter operator / broker side, when asking the primary choice when chartering an aircraft, 80% of respondents would contact a charter operator first.
(To be continued.)