Study Says Business Aviation Gives Competitive Edge to Small, Mid-Size Companies

Benefits Confer to Businesses Even in Tough Economic Times

Contacts: Dan Hubbard, (202) 783-9360,
Patrick Dunne, (202) 783-9263,

Atlanta, GA, October 19, 2010 – A new study released today shows that small and mid-sized companies using business aviation achieved greater success in important measures of performance, even during the worst financial recession in recent memory, than comparable companies that do not use business aircraft.

The study, conducted for the National Business Aviation Association (NBAA), demonstrates that the enterprise value business aviation confers on Standard & Poor’s 500 index companies also applies to S&P 600 small-cap companies.

“This study reveals that use of a business airplane is a sign of a well-managed company, regardless of the size of the enterprise,” said NBAA President and CEO Ed Bolen. “The level of productivity, flexibility and efficiency business aviation provides allows companies of all sizes to remain productive despite the tough economy we’ve been experiencing, and this latest study confirms it,” Bolen added.

The 2010 study, “Business Aviation: An Enterprise Value Perspective,” was released at NBAA’s 63rd Annual Meeting & Convention during the opening-day Media Kickoff Breakfast. It is the second installment of the research by NEXA Advisors, LLC into the measurable factors involved in use of general aviation aircraft for business purposes across the spectrum of American business.

The conclusions in the new study are consistent with findings from the first NEXA study, conducted and published in 2009, which showed S&P 500 companies using business aircraft consistently outperformed non-business aviation users in revenues, profitability and shareholder value, and even in qualitative measures like “most admired” and “best brands.”

The small and medium enterprises (SMEs) represented in the 2010 study represent a diverse group of entrepreneurs and organizations in the United States, both privately owned and publicly traded. In comparing their financial results from 2005 through 2009, NEXA researchers found that users of business aircraft outperformed nonusers across a range of standard shareholder measures. The NEXA study pinpointed three key findings from the analysis and interviews:

“The remarkably consistent results across the range of enterprises from large-cap to small-cap suggest that for any size company, business aviation is a clear differentiator of shareholder value creation and business performance,” said the study’s author, Michael Dyment, managing partner with NEXA Advisors.

The study comes as NBAA continues to highlight the value of business aviation to citizens, companies and communities across the U.S., through No Plane No Gain, an advocacy campaign jointly sponsored by NBAA and the General Aviation Manufacturers Association.

Launched in February 2009, the campaign educates policymakers and opinion leaders about the essential contributions of business aviation to the nation’s economy and transportation system, and to the global competitiveness of American business. To learn more, visit

To download both Part I and Part II of the NEXA study, visit

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Founded in 1947 and based in Washington, DC, the National Business Aviation Association, Inc. (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The Association represents more than 8,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Annual Meeting & Convention, the world’s largest civil aviation trade show. Learn more about NBAA at

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