Morgan Stanley: BizJet Recovery Continues

Takeoff and landing data from FAA shows a continued recovery in business jet traffic in October, with the 11th consecutive year-over-year positive month, up 5.7%, says a Morgan Stanley report. Sequentially, October was up 1.3%, it adds. “Moving forward, we expect year-over-year traffic growth to decelerate as compares become tougher,” writes analyst Heidi Wood. “The U.S. business jet traffic recovery appears underway with both Cessna and Bombardier posting 11 consecutive months of positive year-over-year growth versus 12 for Gulfstream, reinforcing our thesis that a recovery in mid-size jet demand would follow the high end.”