Oct. 18, 2019
Business aviation has been in the news, this time with renewed mischaracterizations and even false claims; NBAA has worked quickly to correct misperceptions and inaccuracies in the coverage and commentary, and the association’s perspective is already being published. For example, NBAA President and CEO Ed Bolen’s published response to a Bloomberg story reads, in part:
“For starters, let’s get the facts straight. Research shows that about 90 percent of Standard & Poor’s 500 Index companies utilize business aviation because they find it to be an essential business tool,” adding that companies using business aviation outperform those not using business aviation in several measurements of shareholder value.
Read Bolen’s full letter to Bloomberg.
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Dear Editor,
On behalf of more than 11,000 companies in all 50 states that rely on business aviation to meet many transportation challenges, we are very concerned about your recent reporting, which included omissions about business aviation’s value.
For starters, let’s get the facts straight: recent research shows that about 90 percent of S&P 500 companies utilize business aviation because they find it to be an essential business tool. The same research of S&P 500 stock performance demonstrates that most companies that use these aircraft show quantifiable value when it comes to revenue and profit growth, asset efficiency, shareholder value, and other performance measurements. In short, the overriding reason successful companies choose to utilize business aviation is that it is a business tool that allows them to operate efficiently and effectively in terms of security and risk management, productivity, and many other benefits.
Moreover, these companies are often located in rural areas, making business aviation not just a prudent business-travel option, but often the only one. When it comes to using these aircraft as a competitive tool, these companies are able to use business aviation to quickly meet customer needs and strategic objectives, and it allows teams to be able to work en-route collaboratively and efficiently, while reaching multiple cities in a single day. It also allows companies scheduling flexibility and reduces the threat of corporate espionage. These are companies that are routinely regarded as most innovative, best brands, and optimal places to work.
It’s unfortunate that your one-sided report failed to mention this important information.
Ed Bolen
President and CEO
National Business Aviation Association
International Business Aviation Council Ltd.