Brexit uncertainly keeps rising and affects business all around Europe.
Reports show that the demand for business jets had reduced significantly since last month. The registration for private jets throughout the Europe has reduced. The numbers say, there is a downward fall of approximately 4.1 percent in the UK and 3.1 percent in the whole of Europe.
According to Colibri Aircraft, a London-based manufacturing company, which specializes in marketing and sales of private jets, stated that all over Europe, there has been a 4.6 percent drop of private jets registrations since January 2018-2019 which also accounts for the registrations in the UK to drop by 2 percent. To this downfall, the managing director of Colibri stated that, the main reason for this downfall is the increased demand for private jets in USA which proves to be a larger market compared to Europe, thus reducing the overall fleet and ultimately reducing the number of fleet occurrence.
This is also due to the fact that Britain is leaving the European Union, or the Brexit process. Reports say that around 5.5 percent downfall in the London’s aviation business is due to the Brexit process. This is because customers don’t want to travel in and around the capital as it is under the process of leaving EU soon, but a fixed date or process is yet to be announced. This uncertainty is also affecting the business sector as people don’t want to come to Europe if UK leaves. As UK served as the business hub for most of them.
Reports from the city stated that during a time like Brexit, London needed to be ‘more competitive’ in the business sector or it will lose the stand it has on the rest of the world. It has to find new ways to invest to ensure the uninterrupted supply of goods in and across, and thus attract global trade to itself.
London Biggin Hill Airport has been trying its best on conserving the aviation industry. It has been quite successful in attracting over 70 aerospace companies to settle on site. Due to its efforts, it actually succeeded in increasing 9 percent activity on aircraft. They did it by picking up traffic from other London airports whose capacity were getting overwhelmed. This move also attracted aircraft giants like Bombardier and Textron Aviation last year.
Biggin Hill Airport also renounced the aviation charges and simplified it for customers. The fess underwent a significant slash and is affordable to almost every section of the population. These changes are said to be announced this April. The new system that will be announced will reduce Landing, handling and parking fees to a greater extent. It has also said that it will also remove shoulder hour charges and cost reduction for short turnarounds.
These measures showed that there had been an increasement of double-digits in the aviation activity backed by London’s Biggin Hill and Farnborough. Thought he uncertainty around Brexit keeps rising, but the increased activity of the aircraft business seems to be blooming significantly.