According to Bombardier’s latest market forecast, growth in non-US markets is expected to drive the business jet deliveries to 1,320 annually between 2008 and 2017, compared with the industry average of 620 in the period from 1998 to 2007.

Europe’s business aviation showcase, the European Business Aviation Convention & Exhibition (EBACE) is the second biggest business aviation event in the world after the National Business Aviation Association. Several of the major manufacturers, however, insist it is the most important—a claim substantiated by this year’s show in Geneva that was voted a huge success. Bolstered by a record number of visitors and representation by top OEMs across the world, the event witnessed a flurry of orders and tales of major new investments in the sector. Little wonder that both operators and manufacturers left Geneva beaming.

California’s on-demand operator XOJet announced $2.4 billion (Rs 10,247.5 crore) of fresh investment and has unveiled ambitious plans to launch operations from Abu Dhabi later this year. No one has ever raised this kind of capital in this industry, says Chief Executive Paul Touw. Of course, no one ever had a model like ours. In September, the first of 80 Challenger 300s joins the fleet, and soon the company will select a long-range aircraft—the third and final model for the fleet. The fourth round of XOJet’s financing revealed at EBACE is from the Economic Development Corporation of Canada, White Oak Investments, and TPG Growth. Morgan Stanley led the effort that brought $964 million (Rs 4,116 crore) in immediate financing. The remaining $1.5 billion (Rs 4,269 crore) is via a joint venture with Tasameem Real Estate Company, which is awaiting UAE approval of a new air operator’s certificate. That will take between three and six months, so we’ll begin operations towards the end of 2008, says Touw.

Swiss-based VistaJet stunned visitors with the announcement that it is to buy Bombardier’s international charter operator Skyjet. The two companies have signed an MoU for the acquisition of Skyjet International. The deal includes Skyjet’s bases in Farnborough, Dubai and Hong Kong, and makes VistaJet the second-largest private jet company outside North America, behind NetJets. Both parties have agreed not to disclose the sum VistaJet paid, and the deal depends on a final contract being signed by the end of June at the latest, says VistaJet’s Group CEO Bing Chen. Skyjet’s operations in North America are not affected by the deal.