The Voice for Business Aviation in Europe. Annual Review SHAPING OUR FUTURE

Transcription

1 The Voice for Business Aviation in Europe Annual Review SHAPING OUR FUTURE

2 Introduction No one would argue against the fact that though we have emerged from the depths of the crisis in 2009, we are by no means back in the clear. Indicators have shown that business aviation, along with every other aviation segment, is still trying - carefully - to regain its footing. There are however, issues over which we have no control (i.e. fuel prices), issues that we as a sector have some control (i.e. empty legs and capacity) and issues that we as a sector by uniting our voices can influence (i.e. everything on the EBAA s aeropolitical dossier). To that end, EBAA has established a set of key priorities for 2013 aimed at removing growth barriers for our sector be they financial or operational in order to ensure that we can continue meeting the demand for efficient, secure, point-to-point business travel. This year, the Association will train its focus on the following high-profile topics: the first relates to the campaign against illegal flights. EBAA will be working closely with European officials to develop more robust legislation to prevent and regulate illegal flight activity, and will in the coming 12 months steer a comprehensive impact assessment to illustrate the scope of illegal activities and the current difficulties for Member States to combat them efficiently. The Association will also renew its support to the infringement procedure the Commission is mulling over against Member States inability to build true Functional Airspace Blocks (FABs), and will push for the review of the two lacklustre regulations on the SES performance scheme and ATM charges. Of equal interest to EBAA will be the access to infrastructure. The Association will battle to maintain the amendments voted on by the European Parliament in the final version of the slot recast, and will as well push for a fundamental review of the way runway performance is addressed for business aviation in Europe. With respect to environment, the Association will do its utmost to achieve a fairer EU ETS, making sure distortions of competition brought in by the stop-the-clock derogation are confined to the minimum. Whilst collaborating with PricewaterhouseCoopers to identify ways to eliminate the unbearable admin costs endured by smaller emitters, it will also continue to propose constructive views for the achievement of internationally-accepted Market-Based Measures (MBMs). Finally, in order to promote best practice, the Association, in collaboration with the International Business Aviation Council (IBAC), will aim to finalise the development of an International Standard for Business Aviation Handling. Such a standard would enable the sector to conduct its own quality and safety assessment of FBOs and ground handling, and could help stimulate self-regulation from a top-down perspective, across the board. There s always a reaction period before such aeropolitical actions have a measurable impact on the bottom lines of the operators, but helping decision-makers prioritise is particularly crucial in these tough times if the long-term resilience of the sector is to be preserved. Let s raise our voices in unison and make certain our needs are heard! Rodolfo Baviera, Chairman Brian Humphries, President Fabio Gamba, CEO 2

3 ANNUAL REVIEW SHAPING OUR FUTURE State of the Industry: Is the Worst Behind Us? With a faltering economy resulting in business aviation flight activity levels in Europe down 4.3% in 2012, the sector kicked off 2013 pondering, Is the worst behind us? EU 27 AIRCRAFT EU 27 OPERATORS NON-EBAA EBAA NON-EBAA EBAA COMMERCIAL EBAA CORPORATE 68% 32% % 26% 19% 7% Source : AMSTAT & EBAA fig 1 To begin to properly answer that question, it is important to first take a look at the numbers. The combined fleet of EBAA members represents nearly a third of the European business aircraft fleet. And among EU 27 operators with 2 or more aircraft, EBAA represents 26 per cent. fig 2 Operators with the largest fleets in Europe have healthy membership numbers in EBAA. To ensure a better balance, going forward the Association will make great efforts to encourage the membership of operators of two to five aircraft, as they too have significant and sometimes unique challenges. The strength of their combined voices will help to ensure their needs are heard at EU level. Already by February 2013, EBAA Membership had reached an all-time high of 532 Members. 3

4 Traffic Disturbances In 2009, at the worst of the crisis, aviation departures were down 14 per cent followed by two years of traffic growth at respectively 5 and 2.5 per cent. In 2012, business departures fell once again, this time to -2 per cent, though as we see in Figure 3, this traffic decrease hit all aviation segments across the board. fig 3 That leads then to another question. With the four years of traffic gains spanning 2005 and 2008 all but wiped away, are we just experiencing a blip in business aircraft usage, or have we entered a New Normal? fig 4 4

5 ANNUAL REVIEW SHAPING OUR FUTURE EU Hit Harder than Neighbouring Countries In 2012, the EU-27 totalled 335,000 departures, with France, UK and Germany leading the way. However it was non-eu countries such as Ukraine and Turkey who experienced the greatest percentage increases. Italy continued to lose out heavily, as did Switzerland, which has traditionally been a business aviation stronghold. In fact, not a single market in the Top 10 met any sort of growth, though the UK and Germany seemed to have weathered the storm better than the Netherlands, Switzerland and Austria, which all witnessed a severe contraction of their movements TRAFFIC DEPARTURES 2012 VS % Ukraine Turkey Greece Netherlands Belgium/Luxembourg Austria Spain Italy Switzerland Germany UK 10.6% of EU 27 traffic -9.76% France EU Source: EUROCONTROL -2.00% -15,00% -10,00% -5,00% 0,00% 5,00% 10,00% 15,00% fig 5 Dwindling activity was also reflected in airports. With the single exception of Farnborough, which experienced a mild growth of 0.3 per cent, all other business aviation airports witnessed a reduction in traffic. That is the case with Paris Le Bourget at minus 7 per cent in departures. And respectively Milan Linate and Rome Ciampino lost 11 and 7 per cent. Perhaps much more surprising is Vienna at minus 19 per cent. In comparison Moscow/Vnukovo had a healthy 2.5 per cent increase in growth. fig 6 5

6 Nevertheless the EU Fleet Continues To Grow In 2012, the European Business Aviation fleet grew at a steady pace of 5 per cent, establishing a new record high at 3,078 units. It seems counterintuitive that during such a difficult period the aircraft fleet grew relentlessly - especially if we take into consideration difficulties to access financing. Moreover, one observes that there were almost no replacements. Replacement aircraft only accounted for 50 units. At such a pace, Europe remains by far the 2nd largest business aircraft market in terms of shipments. Latin America, one must note, has exploded by 14 per cent, while on the other hand the North America market softened by 1.4 per cent. AGGREGATE SHARES OF WORLD AIRCRAFT SHIPMENTS BY REGION vs è North America: 49.7% (Down -1.4%) è Europe: 18.1% (Down -0.9%) æ Latin America: 11.5% (Up +14.3%) æ Asia Pacific: 15.2% (+ 8.9%) æ Middle East & Africa: 5.4% (Up +7.7%) 49.7% 18.1% 5.4% 11.5% 15.2% fig 7 Source : GAMA What s to Come? Traffic growth is likely to remain stable in the coming four to five years. Eurocontrol predicts that there will be a plateau of 3 to 3.5 per cent among cargo and other carriers. One could argue though that this is a very optimistic scenario. If in 2013, business aviation in Europe continues the trend of the past few months, the sector will close 2013 with minus 4.4 per cent of movement and minus 2.0 per cent in total departures, mirroring what happened in BUSINESS CARGO PASSENGER 9 6 Growth in departures fig 8 Source: EUROCONTROL 6

7 ANNUAL REVIEW SHAPING OUR FUTURE Barriers to Growth There are still a number of battles to win if we are to see business aircraft flight activities return to pre-crisis rates. Let s follow the money trail. A quick look at business aviation costs reveals that 8 per cent of operating costs are for flight expenses, 16 per cent are for personnel, 21 per cent goes to fuel and 28 per cent to capital ownership. In essence, just getting into the business aircraft ownership game commits operators to numerous costs over which they have little or no control. 30% 28% DIRECT OPERATING COSTS OF BUSINESS AIRCRAFT 25% 20% 15% 21% 16% 14% 10% 5% 8% 4% 4% 5% 0% Ownership Fuel Personnel Maintenance Flight Expenses Hangar Insurance Training fig 9 Source: Business Aviation for a Sustainable Economy (BASE) A CleanSky Project Fuel Prices Trending Above $100 A Barrel, Long-Term Fuel prices reached an all-time high in 2008 at dollars per barrel in August. This was then immediately followed by a plummet to 34 dollars in January A year later, the barrel shot up to 80 dollars and has since established itself around the 110 dollar mark. EBAA estimates that the 110 dollar mark is here to stay, meaning that though operators are in a much better position than they were five years ago, the relatively high fuel price still makes a noticeable dent in their pockets. $ / barrel OPEC DAILY BASKET PRICE 160 $ % Over 1.5 Y -76% Over 0.5 Y 2012 Mean $ % Over 3 Y $ fig 10 7

8 CO 2 Contracts Cheaper But Will Still Weigh On Our Bottom Line The good news is that Carbon Allowances are down from an all-time high of more than 30 in 2008, to around 5.30 currently. Still with business aviation having to account for nearly 100% of its emissions, the sector must be conscious that this remains an additional cost not to mention the MRV obligations and administrative costs on top. Source: EUROCONTROL & EBAA fig 11 Business Aviation emits less than 2% of air transport emissions, but is required to pay for 12% of them. The new stop the clock derogation introduced early this year does not change things, as the vast majority of European business aviation is intra-european. EU AVIATION 2012 CO 2 EMISSIONS IN 000 TONNES OF CO 2 EU AVIATION 2012 PURCHASE OF PERMITS 2% 12% = 25m 233m tonnes è -2.9% 206m 98% 88% AIRLINE Source: EUROPEAN COMMISSION & EBAA BUSINESS AVIATION AIRLINE BUSINESS AVIATION Assumption: Permit price: 5.30 fig 12 8

9 ANNUAL REVIEW SHAPING OUR FUTURE ATM Unit Rate Increases Even As Traffic Falls In spite of the fact that there was a decrease of 2.0% in business aviation departures (4.2% in total BusAv traffic) in 2012, the average ATM cost for business aviation increased by 1% over Overall, the total ATM invoice amounted to 141m, a decrease of -0.5% only over the year before. That is incomprehensible at a time when the Commission and Member States have embarked on an ambitious ATM reform, SES II+, which is supposed to bring cost efficiencies. ROUTE CHARGES 141m è -0.47% Unit Rate! Average Unit Rate! 5.17! æ 0,9%! 6,99bn è -1.44% m è -1.46% BUSINESS AVIATION OTHER Source: EUROCONTROL fig 13 Eliminating Our Own Inefficiencies As a sector, business aviation has been creative in finding new markets to reduce the number of empty leg flights. It is interesting to note that the Medium segment has been the least affected by high rates of empty legs, with only 3 per cent. fig 14 Source: Avinode & EBAA 9

10 Another issue that affects the profitability of operators is the proliferation of illegal flights. EBAA estimates that 6 to 8% of all business aviation flights in Europe are by operators that circumvent the requirements of the existing regulation and/or are operated without the required traffic rights. That is more than 45,000 movements/year which are affected. In terms of safety, fatal accidents among business aviation operators have consistently remained low, but the industry must nonetheless remain vigilant. FATAL ACCIDENTS IN BUSINESS AVIATION EASA MS AND THIRD COUNTRY REGISTERED AEROPLANES Source: EUROCONTROL & EBAA fig 15 And finally, over and/or poor regulations can also be considered as barriers to growth. And this is where the lobbying work done by the industry and EBAA can help to make a difference, as we have seen in years past on issues such as ADP, safety and Flight Time Limitations. 10

11 ANNUAL REVIEW SHAPING OUR FUTURE What Are We Doing About Overcapacity? As seen in Figure 16, since 2007, business aviation in Europe has witnessed a disconnect between the rate of traffic growth and the rate of fleet growth. If we play out the predictions, however, one presumes that such a dichotomy will fade out over time, since such a trend is clearly unsustainable. fig 16 Managing the Aeropolitical Dossier Selected Achievements in 2012 SLOTS 1. Released a well-received study on the flaws of the Commission s approach together with the European Regional Airlines Association 2. Changed substantially the proposal of the Commission to BusAv advantage recognised as a priority user EU ETS 3. Steered international dialogue on internationally acceptable MBMs SAFETY 4. Managed to get a differentiated FTL RMT for BusAv 5. Got fair and proportional representation at RMT with two seats instead of one ATM 6. Won second Call for Tender in a row on SESAR 7. Forced the Commission to be more demanding on FABs and ATM costs GREY MARKET 8. Proposed Code of Conduct, the signature of which will become compulsory for future membership VISIBILITY 9. Released study on importance of BusAv, and presented it to Commissioner Kallas 10. Introduced sponsoring campaign to promote new members to join IMAGE 11. Introduced a new visual identity and finalizing new EBAA website 11

12 Looking Ahead: Three Pillars of Focus There remain many challenges. To that end, the Association has identified a list of priorities to focus on, with tangible deliverables that will bring added value to the sector and its Members. Let s look at a few of these in closer detail Fend Off Attempts to Impose Unwarranted Taxes Eliminate/ease BusAv taxes in Italy via EC or legal challenge Convince UK Treasury of fairer treatment for BusAv within APD Fend off attempts to emulate Italian or British precedent Ensure ATM Is both Efficient & Cost Effective Support actions against MS for failure to implement FABs Guarantee ATM cost reduction through favourable performance scheme Encourage EUROCONTROL to reduce budget and business plan for 2013 Foster strengthening of network manager and its prerogatives Safeguard Access to Airport Infrastructure Get minimum level of acceptance of EBAA s proposed amendments in final version Support local efforts to avoid secondary airports turning into fully coordinated airports Accompany State Aid Modernisation (SAM) and avoid harmful final outcome for BusAv Make Certain Environmental Measures Are Fair & Affordable Steer constructive proposals for an internationally acceptable MBM Increase visibility of ECTL Support Facility Tool Tackle residual admin issues with respect to EU ETS Ensure status quo ante with respect to the Stop-the-clock if no measurable progress can be achieved after the ICAO General Assembly in October Achieve Smart Security Rules Fit For Purpose Get wide agreement on need to review the approach on security (risk-based) Draft principles around expedited & light security measures based on US TSA Pre-Check programme 12

13 ANNUAL REVIEW SHAPING OUR FUTURE Ensure International Standards Are Truly Standard Internationally IS-BAO Reach levels of sales of by singing the praise of the Standards to operators Assume more active role in IBAC s European tour of IS-BAO seminars IS-BAH Establish common position with NATA s Safety First Steer final standard paper by year s end for go/no-go decision Make Banishing Grey Market a Top EU Priority Assist MS and EASA in developing tools to combat illegal flights more efficiently - Steer new legislation; in particular, non-objection rights Impose acceptance of compulsory Code of Conduct Establish a hotline for suspicious activities to be reported Achieve Tailor-Made Safety Regulations Consolidate OPS Regulatory Community Formally integrate EACCC (European Aviation Crisis Coordination Cell) Promote need for additional RMT at EASA on Runway Performance for business aircraft Reduce differences of ops requirements between CAT and NCC for runway use Participate and steer debate in Single Engine RMT activities Steer FTL RMT discussions and foster appropriate outcome for BusAv EASA OPS implementation: help ensure operators are up to speed with changes EBACE 2013 Business Aviation: Making the Difference in Europe As the Association gears up for EBACE2013, on May in Geneva, it, along with NBAA, has pulled together an exciting line-up of speakers and educational sessions. As customary, on Monday 20 May, the day before the show, the EBACE Safety Workshop will be held, providing critical information and training directly related to human performance and safety. There is only a small admin fee to attend this workshop. That same day will also feature the International Aircraft Transactions Seminar, which offers an in-depth examination of financial, cultural, legal, and transactional issues, and the Cabin Crew Symposium hosted by the NBAA Flight Attendant Committee, International Subcommittee and EBAA staff. In line with the conference s theme Business Aviation: Making the Difference in Europe, the Opening General Session will feature illustrious speakers from various EU Authorities and ICAO. Thereafter, throughout the three-days of the show, a range of riveting educational sessions will no doubt inspire lively debate. Topics include EU-ETS and Global Market-Based Measures, SESII, Illegal Flights, Russia as a European Growth Engine and Business Aviation and IT solutions. See you there! LOOKING BACK TO EBACE 2012 BY EVERY MEASURE A STRONG SHOW 12,638 Attendees Representing 99 countries 491 Exhibitors A record-breaking 2,280 booth spaces 60 aircraft on Static Display (the largest-ever EBACE Static Display) 13

14 EBAA Membership (as of April 16, 2013) FULL MEMBERS (Alphabetical) ABELAG, SA ABS JETS, j.s.c. ACROPOLIS AVIATION Ltd. AELIA ASSURANCES AERO JET AERO-DIENST, GmbH & Co. KG AEROVISION AIR ALSIE, A/S AIR CHARTER SCOTLAND Ltd. AIR HAMBURG LUFTVERKEHRSGE- SELLSCHAFT mbh AIR LAZUR GENERAL AVIATION Ltd. AIR WINTON, Ltd. AIRFIX AVIATION Ltd. AKDN LOGISTIQUE ALBINATI AERONAUTICS SA ALMAJET ALPHA STAR AVIATION SERVICES AMIRA AIR GmbH AMJET EXECUTIVE SA ANFAJET ARAB WINGS ARKASAIR AVIATION & TRADING SA ASTONJET BALTIC JET AIRCOMPANY, Ltd. BBGA BMW AG BOEING BUSINESS JETS BOMBARDIER TRANSPORTATION GmbH BOSCH GROUP BOUYGUES, SA BVG AIR GmbH CAPITAL JETS CAT AVIATION, AG CELLO AVIATION CLUB SAAB 340 COMLUX THE AVIATION GROUP CORPORATEJETS CTC AVIATION JET SERVICES Ltd. DALIA AIR DASSAULT FALCON SERVICE DC AVIATION GmbH DEER JET, Co. Ltd. DELTA TECHNICAL SERVICES Ltd. E-AVIATION - EFD EISELE FLUGDIENST GmbH EBAA France EBAA Switzerland EFS - EUROPEAN FLIGHT SERVICE ELIT AVIA d.o.o. EMC CORPORATION EMERSON EUROFLY SERVICE, SpA EUROJET AVIATION Ltd. EUROJET HOLDINGS Ltd. EXECUJET AVIATION GROUP EXECUTIVE AIRCRAFT SERVICES EXECUTIVE AIRLINES, SL FAI - RENT-A-JET AG FLAIRJET Ltd. FLYING SERVICE, NV G5 EXECUTIVE, AG GAINJET, SA GAMA AVIATION Ltd. & GROUP COMPANIES GBAA GESTAIR SA GLOBAL JET CONCEPT, SA GLOBEAIR AG GROSSMANN JET SERVICE spol. s r.o. GRUP AIR-MED SA GULFSTREAM AEROSPACE CORPORATION HANGAR8 Plc HELIAVIA, SA HERMES EXECUTIVE AVIATION LIMITED HONG KONG JET IBAA ICEFLY AVIATION AB IMPERIAL JET SAL INTERAVIATION INTERJET HELLENIC AVIATION & TOURIST ENTREPRISES SA IXAIR J&P AVIATION Ltd. JAPAT AG JET AVIATION BUSINESS JETS, AG JETALLIANCE FLUGBETRIEBS GmbH JETEX FLIGHT SUPPORT JETFLITE Oy JETFLY AVIATION SA K2 SMARTJETS SA K-AIR SpA LABORATOIRE ASL LEGENDAIR LIMAGRAIN SELIA LIVINGSTON EXECUTIVE SpA LONDON CITY AIRPORT JET CENTRE, Ltd. LONDON EXECUTIVE AVIATION LONGTAIL AVIATION MAJESTIC EXECUTIVE AVIATION AG MALETH AERO LIMITED MASTERJET GROUP MBAA MEDAVIA, Co. Ltd. METROJET LIMITED MHS AVIATION GmbH MICHELIN AIR SERVICES MJET GmbH MOËT HENNESSY, SNC MSC AVIATION SA NAL ASSET MANAGEMENT Ltd. NAOA NETJETS EUROPE NOCLAF LIMITED NOMAD AVIATION AG NORTH FLYING A/S ORION (MALTA) Ltd. PANAVIATIC AS PANJET PAN AVIATION & TRADE Co. PERFECT AVIATION SA PHOENIX AVIATION LIMITED PREMIER AVIA PREMIUM JET PRIVATAIR, SA QATAR EXECUTIVE RABBIT-AIR, Ltd. RAPID Ltd. RIZON JET UK LIMITED ROYAL JET LLC RUBAA SAUDIA PRIVATE AVIATION SCHÄFER & PARTNER - HSP LAW SCM ARUBA AVV SEAFLIGHT AVIATION, Ltd. SENSES Ltd. SGC AVIATION GmbH SHELL AIRCRAFT LIMITED SKYWORK EXECUTIVE AG SUN-AIR OF SCANDINAVIA A/S SUNDT AIR A/S SUR AVIATION SL SW BUSINESS AVIATION Ltd. SWAN AVIATION SWISS JET AG TAG AVIATION (UK) Ltd. TAG AVIATION, SA THE PRIVATE JET COMPANY TIRIAC AIR, SRL TOYO AVIATION TYROL AIR AMBULANCE, GmbH TYROLEAN JET SERVICES U.S. STEEL KOSICE, s.r.o. UNIJET, SA VIBROAIR FLUGSERVICE GmbH & Co. KG VIKING AVIATION Ltd. VISTAJET LUFTFAHRTUNTERNEHMEN GmbH VOLDIRECT SAS VOLKSWAGEN, AG XCLUSIVE JET CHARTER LIMITED ASSOCIATE MEMBERS (Alphabetical) 121 INFLIGHT CATERING LLC 328 GROUP 3A MALTA LIMITED AB CORPORATE AVIATION ABELAIR AVIATION Ltd. ACASS ACC COLUMBIA JET SERVICE GmbH ACH AIRCRAFT INTERIOR ADAC - ABU DHABI AIRPORTS COMPANY ADAMS AVIATION SUPPLY COMPANY, Ltd. ADSE CONSULTING & ENGINEERING ADVANCED AIR SUPPORT AEGIS CORPORATE SERVICES LIMITED AERO INTERNATIONAL c/o JAHR TSV GmbH & Co. KG AEROEX GmbH AEROLITE MAX BUCHER AG AERONAUTICA (MALTA) LIMITED AERONAUTX LUFTFAHRTSCHULE GmbH AEROPORT CANNES-MANDELIEU AEROPORT COLMAR HOUSSEN AEROPORT D AVIGNON AEROPORT INTERNATIONAL DE LIMOGES AEROPORT INTERNATIONAL DU CASTELLET AEROPORT LYON-BRON AEROPORT PAU PYRENEES AEROPORTS DE PARIS AEROTECS NV AEROWORKS INTERNATIONAL Co., Ltd. AES - AIRCRAFT ELEKTRO / ELEKTRONIC SYSTEM GmbH AFFINITY MANAGEMENT SERVICES (MALTA) LIMITED AIR BP, Ltd. AIR CHARTER SERVICE, plc AIR CULINAIRE WORLDWIDE AIR LINK INTERNATIONAL Ltd. AIR SERVICE BASEL GmbH AIR SUPPORT A/S AIR TOTAL INTERNATIONAL SA AIR WORKS INDIA ENGINEERING Pvt. Ltd. AIRBUS CORPORATE JET CENTRE AIRBUS SAS AIRCLAIMS AIRCRAFT CORPORATE SERVICES (MALTA) Ltd. AIRCRAFT GUARANTY FINANCIAL CORPORATION AIRMARK ALTENRHEIN AVIATION Ltd. ALTITUDE AEROSPACE INTERIORS LIMITED ALTO GENERAL AVIATION SERVICES GmbH AMAC AEROSPACE (Switzerland) AG AMSTAT Inc. AMSTERDAM AIRPORT SCHIPHOL AMSTERDAM SOFTWARE BV / FBO ONE ANDREAS HEIN / FOPS APOGEE OPERATIONS Ltd. APPLEBY ARGOS VIP PRIVATE HANDLING, Srl ARGUS INTERNATIONAL ARINC DIRECT ASA AERODESIGN ASE GROUP ASTER JETFUEL DMCC ATA - ALI TRASPORTI & SERVIZI SpA ATEQ OMICRON ATLANTIC FUELEX ATM AIR TRAVEL MARKETING Ltd. ATR - AVIONS DE TRANSPORT REGIONAL AURORA AVIATION SA AVCOM-D, Ltd. AVEX AVIATION EXPERTS AG AVIA BUSINESS GROUP LLC AVIA MALDIVES Pvt. Ltd. AVIABEL SA AVIACARE SAS AVIAPARTNER AVIASTRA FLIGHT CHARTER Ltd. AVIATION BROKER GmbH AVIATION LEASE BROKERS GmbH - (ALB) AVIATION MANAGEMENT SYSTEMS, Inc. AVIATION REGISTRY GROUP Ltd. LLLP AVIATION SERVICES MANAGEMENT Ltd. AVIATRAX Ltd. (MALTA) AVIATRAX SA AVICON AVIATION AVINODE AB AVIOVISION AVJET ROUTING FLIGHT SUPPORT AVOCET AVIATION UK Ltd. AXIS FLIGHT TRAINING SYSTEMS GmbH BALDWIN AVIATION BANK CIC SUISSE SA BANK OF AMERICA MERRILL LYNCH BART INTERNATIONAL BBA AVIATION BEDEK AVIATION / AERO HANDLING Ltd. BELGIAN FLIGHT GROUP BERMUDA GOVERNMENT BILEN AIR SERVICES BIO AEROSPACE GmbH BIZAV SERVICES Ltd. BIZJET, SA BLUE GREEN TECHNOLOGY BLUM&GROB ATTORNEYS AT LAW Ltd. BOMBARDIER AEROSPACE BOUTSEN AVIATION SAM BUSINESS AND COMMUTER AIRCRAFT BUSINESS AVIACO PARTNER LIMITED BUSINESS AVIATION CLUB BUSINESS AVIATION COMPANY Ltd. BUTZBACH GmbH INDUSTRIETORE CABINET CHESNEAU FISCHEL CAE CALLIXO CAMILLERI PREZIOSI CAMO AIR SUPPORT CAMPOMORI - AVIATION & LAW CARTER GREEN AEROSPACE CASHMERE REPUBLIC Ltd. CAVENDISH TRUST COMPANY LIMITED CB VATAMERICA LLC CEDAR JET CENTER / MEAG CEEVO - COMITE D EXPANSION ECONOMIQUE DU VAL D OISE CERRETANI AVIATION GROUP, LLC CESSNA AIRCRAFT - (UK) CHECKPORT AVIATION SECURITY CHETCUTI CAUCHI TAX ADVISORS Ltd. CLARK RICKETTS LLP CLYDE & Co LLP COLT INTERNATIONAL CONNECTJETS Ltd. CONTINENTAL JET SERVICES COREB CORJET MAINTENANCE CREDIT SUISSE AG 14

15 ANNUAL REVIEW SHAPING OUR FUTURE CRS JET SPARES CYBERJET SAS DAHER-SOCATA DAO AVIATION DASSAULT AVIATION DAYTON - GRANGER, Inc. DC AVIATION Ltd. DELTA AEROTAXI SRL DELTA AIR WING DIEHL AEROSYSTEMS D-JET DRABPOL Sp. JAWNA DYNAMIC LINK EAD AEROSPACE EADS SECA EASA - EUROPEAN AVIATION SAFETY AGENCY E-AVIATION SWISS Sagl ELBIT SYSTEMS Ltd. EMBRAER EUROPE EMD ADVISORY SERVICES LIMITED EMS - EUROPEAN MAINTENANCE SERVICE AB EQUIOM TRUST COMPANY LIMITED ERCUIS & RAYNAUD ERMINI AG EURO JET INTERCONTINENTAL Ltd. EUROCOPTER EUROPEAN GNSS AGENCY EVERGREEN APPLE NIGERIA LIMITED EXCELLIUM LLC EXECUTIVE BLUE EXXONMOBIL PETROLEUM & CHEMICAL, bvba FARNBOROUGH INTERNATIONAL Ltd. FASTRANSIT AVIATION SERVICE LIMITED FCG - FLIGHT CONSULTING GROUP, Ltd. FENECH & FENECH ADVOCATES FINSERVE AVIATION INSURANCE FL3XX FLIEGER LAW OFFICE BVBA FLIGHTSAFETY INTERNATIONAL UK, Ltd. FLIGHTSERVE UK Ltd. FLIGHTWORX AVIATION Ltd. FLITELINE BV FLY AVIATION SERVICES FZCO FLY VICTOR LIMITED FLYGPRESTANDA AB FLYHT FLYMENOW FLYOPS FLYVATE CHARTERFLUG GmbH FOGLIZZO LEATHER Srl FOKKER SERVICES BV FRANCIS J. VASSALLO & ASSOCIATES Ltd. FRANKE CARE SYSTEM GmbH FREEDOM AIR, Ltd. FREESTREAM AIRCRAFT, Ltd. FUTURE FLIGHT SUPPORT G.OPS GAS - GERMAN AVIATION SERVICE GmbH GATE V AIRCRAFT MAINTENANCE, GmbH GATES & PARTNERS GDN AIRPORT SERVICES Sp. z o.o. GE CAPITAL GENERAL AERO COMPANY, Inc. GENERAL AVIATION SERVICE SL GENEVA AIRPARK SA GET INTO MALDIVES TRAVELS Pvt. Ltd. GKN AEROSPACE SWEDEN AB GLENNAIR TRAINING CENTRE LIMITED GLOBAL FLEET MANAGEMENT CORPORATION GLOBAL FUEL ESTABLISHMENT GLOBEGROUND MALTA Ltd. GOLDAIR HANDLING, SA GÖZEN AIR SERVICES GREAT CIRCLE SERVICES AG HADID INTERNATIONAL SERVICES - (UAE) HANDLING PARTNERS HARRODS AVIATION Ltd. HAWKER BEECHCRAFT CORPORATION HAYWARD AVIATION, Ltd. HERDEM & Co. - ATTORNEYS-AT-LAW HONDA AIRCRAFT COMPANY HONEYWELL INTERNATIONAL s.r.o. HORIZON SWISS FLIGHT ACADEMY HUNT & PALMER PLC HYDREP, SA I FLY PRIVATE IACOBUCCI HF ELECTRONICS SpA a US ICARUS AMC Inc. IDAIR GmbH IFAERO INFLITE - THE JET CENTRE INMARSAT INNER MALDIVES HOLIDAYS INNOVINT AIRCRAFT INTERIOR GmbH INTERNATIONAL AIR SAFETY OF- FICE, Inc. - THE REGISTRY OF ARUBA ISLE OF MAN AIRCRAFT REGISTRY IZY AIR Ltd. J. MESINGER CORPORATE JET SALES, Inc. JAVAJET ASIA, PT JCB AERO JEM CONSULT GERMANY JEPPESEN, GmbH & Co. JET AVIATION AG JET HELP JET LOGIC LIMITED JET SUPPORT SERVICES, Inc. - (JSSI) JETCO AVIATION SERVICES GmbH JETCRAFT CORPORATION JETLEVEL GmbH JETSUPPORT BV JET-XPRESS JORDANIAN PRIVATE JETS SERVICES JSC CDOS CA AEROTRANS KEITAS SYSTEMS SARL KLM JET CENTER KUERZI AVIONICS AG LINK AERO TRADING AGENCY LIST COMPONENTS & FURNITURE GmbH LOHER RAUMEXKLUSIV GmbH LONDON BIGGIN HILL AIRPORT Ltd. LONDON OXFORD AIRPORT LUFTHANSA SYSTEMS FLIGHTNAV Inc. LUFTHANSA TECHNIK AG LUXMEDIA GROUP LYNX JET - PRIVATE FLIGHTS M.C.M. GROUP MACH FLIGHT SUPPORT MACH MEDIA MAGNA AVIATION MAINLAND GROUNDEXPRESS LIMITED (CHINA) MALLORCAIR, SL MALTA ENTERPRISE CORPORATION MARSHALL AEROSPACE AND DE- FENCE GROUP MARTYN FIDDLER ASSOCIATES LIMITED MAYER BROWN MEDAIRE Ltd. MEGGITT USA MERKUR GROUP MILESTONE AVIATION MNG JET HAVACILIK AS MOONJET FLIGHT SUPPORT MOORE STEPHENS ISLE OF MAN MOTOR PRESSE STUTTGART GmbH & Co. KG MOTOTOK INTERNATIONAL GmbH MTS AVIATION MTU MAINTENANCE BERLIN-BRANDENBURG GmbH MULTI SERVICE AVIATION NAV FLIGHT SERVICES, s.r.o. NAYAK AIRCRAFT SERVICE GmbH & Co. KG NEXUS FLIGHT OPERATIONS SERVICES OCRA AEROSPACE (ISLE OF MAN) LIMITED OGMA OHS AVIATION SERVICES GmbH OMNI HANDLING Lda. ONAIR INTERNATIONAL Srl ONAIR SWITZERLAND ONLY JET - SUISSCOURTAGE GROUP OPMAS ORIENS ADVISORS Ltd. PAINT SERVICES GROUP Ltd. PAR AVION Ltd. PARAMOUNT BUSINESS JETS PDC AVIATION PGA AVIONICS PHB-OPS GROUND HANDLING SERVICES PILATUS AIRCRAFT Ltd. PMV INDUSTRIE POLTRONA FRAU SpA PORTUGAL TOURIST SERVICES - (PTS) PRCJET Co. Ltd. PREMIER MARKETING GROUP HOLDING GmbH PRIMUS AIRCRAFT MANAGEMENT SOLUTIONS PRIVATEFLY Ltd. PROFIJET SA PwC QAPS GROUP BV QCM QUINTESSENTIALLY AVIATION Ltd. R&R AVIATION CONSULTING GmbH RED BOX INTERNATIONAL REHEAT INTERNATIONAL RESOURCE CONSULTING AG ROCKWELL COLLINS ROLLS-ROYCE plc ROMANIAN AIRPORT SERVICES ROYALBLUE EXECUTIVE SERVICES RSM MALTA RUAG DEUTSCHLAND GmbH RUSAERO CCAS S&D AVIATION Ltd. SABENA TECHNICS SAC - SWISS AVIATION CONSULTANTS GmbH SAN MARINO AIRCRAFT REGISTRY SATCOM1 SCANDINAVIAN AIRCRAFT TECHNOLOGIES A/S SCANDINAVIAN AVIONICS, A/S SEACA SEAF SEINE ET MARNE DEVELOPPEMENT SERDANELI INTERNATIONAL SG EQUIPMENT FINANCE, AG SHELL AVIATION, Ltd. SIGNATURE FLIGHT SUPPORT SIGNATURE FLIGHT SUPPORT SAS SKY AVIATION SERVICES SKY SERVICES SpA SKYCHARTER LIMITED SKYLINK SERVICES Ltd. SKYPRO AVIATION LIMITED SKYTOURS MALDIVES Pvt Ltd. SNC-LAVALIN AEROPORTS SOCAR ENERGY SWITZERLAND SOGAERDYN SpA SPECTRO / JET-CARE SQAIR BVBA SR TECHNICS SWITZERLAND STANSTED NEWS LIMITED STARS AIRLINES SERVICES STAVROPOL INTERNATIONAL AIRPORT STRATAJET STUEKERJUERGEN AEROSPACE COMPOSITES GmbH & Co. KG SWISS BUSINESS AIRPORTS SWISSPORT EXECUTIVE AVIATION TAG AERONAUTICS Ltd. TB DAVIES (UK) LIMITED THE HERITAGE GROUP THE JET BUSINESS INTERNATIONAL TISCA TIARA MOBILITY TEXTILES TLC AVIATION TOP AVIATION TRANSPORT MALTA TRAVCON CHARTER BROKERS UBS AG UKIP MEDIA & EVENTS UNIAIR UNITED AVIATION SERVICES UNIVERSAL WEATHER & AVIATION, Inc. UPPERSKY CATERING VALLETTA COMMERCIAL SERVICES VALOMBREUSE VERHAEGEN WALRAVENS VERSPIEREN, SA VESTERGAARD COMPANY A/S VIP AVIATION VIPCHARTER.COM VIPPORT CJSC VIRTUAL REALITY MEDIA, a.s. WINGX ADVANCE GmbH WORLD AVIATION COMMUNICATIONS, Ltd. WORLD FUEL SERVICES CORPORATION WYVERN CONSULTING YASAVA AERONAUTICS YOUR CHARTER SOLUTIONS ZODIAC SERVICES AFFILIATE MEMBERS (Alphabetical) ABAG CBAA-ACAA FSF GAMA NATA NBAA 15

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