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BUSINESS AVIATION AN ENTERPRISE VALUE PERSPECTIVE 2005 - 2010(21)

时间:2011-12-13 09:18来源:蓝天飞行翻译 作者:公务机

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Through our interviews we found that mobility is the lifeblood of these companies and their ability to access remotely located customers or vendors on any given day was deemed essential. Deploying quick response service teams was another way SMEs used business aviation to improve customer satisfaction. Transport on the scheduled commercial airlines clearly has a place in travel planning for the SMEs we surveyed, when the travel distances were beyond the range of the business aircraft. For day-to-day customer relations and project implementation, business aircraft were often the only option.
Using these results, it is very apparent that business aviation provides SMEs better access to customers and markets that are not conveniently accessible by other means of transportation, improving customer retention and securing new sources of revenues. Furthermore, our analysis found that 72 percent of the SME companies using business aviation were located outside the four major metropolitan areas in the United States.
SMEs (S&P SmallCap 600) vs. Large Companies (S&P 500)
We also sought to answer the question “How do small and medium companies differ in their use of business aviation compared with large companies?”
We looked at the similarities first. The users of business aviation in both the S&P SmallCap 600 and the S&P 500 outperformed nonusers. Second, corporate headquarters for users of business aviation were predominately located outside the major metropolitan areas. Third, the top three industry sectors for business aviation usage were the same for both groups: industrial, consumer discretionary, and financial services.
However, we found several differences between the public company SME business aviation users in this study and the large company users from the 2009 NEXA Advisors study. The most notable was the ratio of users to nonusers. For the largest companies, the users of business aviation accounted for 76 percent of the companies in the study. For the SMEs, the ratio is reversed, with users representing only 31 percent of the companies analyzed. Despite the small penetration of business aviation, the SME users still outperformed the nonusers in each financial metric we analyzed. It seems clear from our interviews these users understood the business case for business aviation. Nonusers may need more careful study towards the value and the potential contribution of using business aviation. This report provides the strong fact base needed to make the case to the nonusers.
 
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