The Voice for Business Aviation in Europe

Annual Review 2014-2015

Business Aviation in Europe: State of the Industry 2015 Done in collaboration with

www.wingx-advance.com

www.amstatcorp.com

www.eurocontrol.int

CONTENTS

03 04

Introduction Overview • What is Business Aviation?

05

• Sub-divisions of the Definition The European Business Aviation Association • EBAA Representativeness of the Business Aviation Industry

07 08 09 10 11 12

• EBAA Membership 1996-2014 State of the Industry • Economic Outlook • Traffic Analysis • The European Fleet • Activity Trends by Aircraft Types • Business Aviation Airports • Business Aviation and Safety A Challenging Industry • Challenges from the Inside 1. Means of Booking a Business Aviation Flight

13

2. Positioning Flights 3. Fleet Growth Vs Traffic • Challenges from the Outside

14 15

1. Fuel Prices 2. Route Charges 3. Taxes Revenue per Flight Indicator

16 18

2

Looking Ahead: Projects for 2015 • Description of Projects EBAA Members (as of 1 April 2015)

INTRODUCTION In our last annual review, looking back at 2013, we concluded that 2014 would be a defining moment for Business Aviation. In the first half of the year, we saw four consecutive months of growth – a breath of fresh air following the years characterised by recession. We were hoping to see that the economic storm was over so we could all sail ahead onto smoother waters. Some pundits were prompted to celebrate, rather hastily, the end of the recession and the beginning of a new era of slower, but hopefully long-lasting, growth. But the choppy results that followed tempered some of that enthusiasm, and we finally ended the year with a meagre growth percentage of 0.7 (i.e. half of the Secretariat’s prediction). Only now can we say that 2014 was in fact a defining year: it wiped the slate clean so that we can start again at zero (point seven). The whole Business Aviation sector is still doing all it can and crossing its fingers in the hope that this respite will gain momentum and officially kick off a new, more positive, cycle for 2015 and beyond. If no earth-shattering events were to happen in Europe this year, Business Aviation should be the first to benefit from some economic stability. But let’s remain on the safe side, any growth outpacing 1, possibly 1.5%, should be seen for what it really is: a major achievement considering where we are coming from. We shouldn’t overlook other signals from the market either. Whilst immune to schadenfreude, it can help to put things in perspective, to add context, by looking at the recent results of other sectors in the air transport sector. In terms of movements, network carriers didn’t do as well as Business Aviation; they basically saw a stall in supply (+0.2%). In fact, with the notable exception of low-cost carriers (+6.5%), all the

Rodolfo Baviera Chairman

Annual Review 2014-2015

other sub-sectors were worse off than in 2013 (cargo was -0.5%, and charters plummeted at -9%). While times remain challenging for all forms of transport, we shouldn’t forget that in many ways, Business Aviation has fared, and continues to fare, better than most of its air transport peers. Nonetheless, Business Aviation has work to do if it wants to reach the heights it has been anticipating since the aftermath of the 2008 financial crisis. In March last year, the EBAA set sail on a new approach for its activities on behalf of its 500+ members, considerably altering the Association’s traditional working method, with the aim of injecting added-value into the sector. A number of new initiatives have already been embarked upon, and 2015 will see several of them coming into fruition. Some of these initiatives are centred on core operational needs, such as fair access to ground and air infrastructure, and obtaining the skills and talent necessary to run the industry; others focus on ensuring safer, greener, and more efficient operations that run harmoniously with other players in the air transport ecosystem; and others lean towards ensuring that the industry’s reputation, particularly in European policy and business circles, is positive and based on good, solid information. Since the impact of Business Aviation is often greater than many perceive, the EBAA and the entire industry are pulling together the resources to find necessary solutions and demonstrate the value of Business Aviation. The EBAA is investing around € 1m in projects and initiatives for 2015, because more than ever Business Aviation means business.

Brian Humphries President

Fabio Gamba CEO

3

OVERVIEW What is Business Aviation? Despite there being no official definition for Business Aviation, one definition by the International Business Aviation Council (IBAC) is generally accepted: Business Aviation is the ‘sector of aviation which concerns the operation or use of aircraft by companies for the carriage of passengers or goods as an aid to the conduct of their business, flown for purposes generally considered not for public hire and piloted by individuals having, at the minimum, a valid commercial pilot license with an instrument rating.’

Sub-divisions of the Definition IBAC also identifies three sub-divisions that collectively make up Business Aviation. These sub-divisions are not actively promoted on their own, but they may be used by regulatory authorities and others for specific requirements, provided that the complete definition of Business Aviation is also made available.

Sub-division 1: Business Aviation – Commercial

The commercial operation or use of aircraft by companies for the carriage of passenger or goods as an aid to the conduct of their business and the availability of the aircraft for whole aircraft charter, flown by a professional pilot(s) employed to fly the aircraft.

Sub-division 2: Business Aviation – Corporate

The non-commercial operation or use of aircraft by a company for the carriage of passengers or goods as an aid to the conduct of company business, flown by a professional pilot(s) employed to fly the aircraft.

4

Sub-division 3: Business Aviation – Owner Operated

The non-commercial operation or use of aircraft by an individual for the carriage of passengers or goods as an aid to the conduct of his/her business.

Sub-division 4: Business Aviation – Fractional Ownership

The operation or use of aircraft operated by an entity for a group of owners who jointly hold minimum shares of aircraft operated by the entity. Fractional Ownership operations are normally non-commercial; however, the operation of the aircraft may be undertaken as a commercial operation in accordance with the AOC held by the entity.

THE EUROPEAN BUSINESS AVIATION ASSOCIATION

The European Business Aviation Association (EBAA) is a non-profit association, founded in 1977 and based in Brussels, Belgium. Its 543 member companies span all aspects of the Business Aviation sector in Europe and elsewhere. The EBAA’s aim is to promote excellence and professionalism amongst its

members and to ensure that Business Aviation is properly recognised as a vital sector of the European Economy. EBAA represents corporate operators, commercial operators, manufacturers, airports, fixed-base operators, and Business Aviation service providers.

EBAA Representativeness of the Business Aviation Industry The industry is composed of, and shared between, large and well-equipped Business Aviation operators (with a fleet of 10 or more aircraft) and small companies (with less than 5 aircraft). EBAA sees its representativeness increase with company size; therefore the operators with a fleet of 10 or more aircraft are well represented throughout EBAA’s activities (EBAA represents 71% of European operators with 10 or more aircraft).

EU 28 operators with 10 or more aircraft Non-EBAA 29%

EBAA 71%

fig 1

EBAA Membership 1996-2014 Evolution of BusAv Operators

60% 50% 40% 30% 20% 10% 0% -10%

2005

2006

2007

2008

2009

Number of operators

Note: this chart includes piston aircraft and bizliner jets

In general, EBAA has been steadily growing since the late 1990s, and especially since the early 2000s. This is clearly linked with the beginning of the annual European Business

Annual Review 2014-2015

2010

2011

2012

2013

Growth

Source: WINGX /EBAA I fig 2

Aviation Convention and Exhibition (EBACE), and the obligation for exhibitors to affiliate themselves to one of the two organisers (EBAA or the US-equivalent, NBAA).

5

THE EUROPEAN BUSINESS AVIATION ASSOCIATION Total EBAA members

600 500 400 300 200 100 0

1996

1998

2000

2002

2004

2006

2008

2010

2012

2014

fig 3

Example: in 10 years – from 2000 to 2010 –EBAA almost quadrupled its number of members, breaking the ceiling of the 400 mark in 2010, followed immediately after by another landmark momentum – the 500 mark, and that in the midst of the perfect storm!

Generally, it is remarkable to see that since 2009 and the global financial crisis, EBAA’s membership continues to climb, which is a good sign for the future.

543

MEMBERS

66

COUNTRIES

fig 4

6

STATE OF THE INDUSTRY Economic Outlook EU 28 GDP Growth

3.4%

4% 3%

3.1%

2.5%

2.1%

2% 1% 0% -1%

2004

2005

0,0%

0.5%

2.0% 2006

2007

2008

1.3%

1.7% -0,4%

2009

2010

2011

2012

2013

2014

-2% -3% -4%

-4,4%

-5%

fig 5

According to the European Commission’s 2014 winter forecast: “The pace of the recovery remains slow as Europe continues to struggle to leave the legacies of the crisis behind it. Economic growth remains also weighed down by unfinished macroeconomic adjustment and sluggish implementation of reforms, as well as long-standing weak growth trends. Moreover, uncertainty about the geopolitical situation, commitments to future policy initiatives and

EUR - USD

energy-price developments have gained importance in 2014. While private consumption has been the main engine of growth in the current recovery, investment has failed to recover and exports have done little to support growth. The economic recovery in the EU and the euro area is therefore expected to have lacked momentum in 2014, with annual GDP expected to have increased by respectively 1.3% and 0.8%.”

1.45 1.4 1.35 1.3 1.25 1.2 1.15 1.1 1/2/2013

3/2/2013

5/2/2013

7/2/2013

9/2/2013

11/2/2013

1/2/2014

3/2/2014

5/2/2014

7/2/2014

9/2/2014

11/2/2014

fig 6

New developments have occurred that are expected to brighten in the short term the EU’s economic outlook that would otherwise have deteriorated since the autumn. Oil prices have declined sharply, the euro has depreciated noticeably, the European Central Bank (ECB) has decided to expand the size and composition of its outright asset purchases by adding sovereign bond purchases, and the European Commission has presented its Investment Plan of €315 billion in the next three years. Details of the Aviation Annual Review 2014-2015

Package, under its plan, are yet to come. The strengthening of the U.S. dollar against the euro is having a mitigated but significant impact on Business Aviation operational costs. Indeed, while some operational costs priced in U.S. dollars are becoming relatively more expensive, the value of aircraft already present in fleets have followed the same pattern and it is now more and more interesting for owners to divest their asset to get the immediate gains provided by this strengthening of it.

7

STATE OF THE INDUSTRY Traffic Analysis Average monthly growth (vs. previous year)

40% 30% 20% 10% 0% -10% -20% 2005 Charter

2006

2007

2008

All-Cargo

2009

2010

2011

Business Aviation

2012

2013

Lowcost

2014

Traditional Scheduled

fig 7

Here in figure 7, you’ll see Business Aviation departures (in magenta) over the past ten years compared with other air transport modes. Note the interesting trends: • Cargo, network carriers, and Business Aviation follow roughly the same pattern, with Business Aviation taking the lead, even if only slightly; • Low Cost Carriers are on a different planet. Even during the crisis in 2009-2012 they continued to expand; • Charter airlines (Monarch, TUI, or Thomas Cook) follow a reverse trend. They expanded whilst the rest of the industry was experiencing serious troubles in 2012,

and contracted immediately after when things were clearly on the mend for the rest. Supply in 2014 nosedived to -9%! The second thing this chart shows is that departures, while an interesting KPI as a unique measure, gives very little practical information. For instance, the Association of European Airlines (AEA) announced that its Revenue per Passenger per Kilometre in 2014 jumped 4.4%, while movements based on departure grew only 0.1%. Let’s keep that in mind when taking the pulse of the Business Aviation industry.

The European Fleet 9%

3,500

8%

3,000

N° Aircraft

6%

2,000

5%

1,500

4% 3%

1,000

2%

500 0

Fleet Growth

7%

2,500

1% 2010

2011

2012 Existing

New

2013

2014

0%

fleet growth (YoY %)

fig 8

8

STATE OF THE INDUSTRY Another interesting statistic relates to the European Business Aviation Fleet. European Business Aviation is seeing a stop to the decline in growth witnessed during the last 4 years (from 8 to 2%), and is heading back to where it was in 2012. A 5.5% increase is more than robust, and was unexpected. With 152 aircraft delivered in 2014, the European fleet maintains its position as the second biggest in the world, equivalent to around 18% of the total global fleet. It is still far behind the U.S., and it is within reaching distance by Latin America, which comes in at third largest.

As a side note to the insight pulled from the graph here, but relevant (and interesting) to note: if we do a combined reading of Airbus, Boeing and EUROCONTROL 2014 numbers* of the legacy carrier industry, the European legacy carrier fleet represents “only” around 4 000 aircraft. Compared to the European Business Aviation fleet, with its 3 300 aircraft, the gap is surprisingly small, and doesn’t stand up to the widely-held belief that Business Aviation is a small industry that sits “at the margin” of the air transport sector. (*Boeing Current Market Outlook 2014–2033, Airbus Global Market Forecast 2014-2033, EUROCONTROL)

Activity Trends by Aircraft Types 2005

68.242 55.257

Midsize Jet

25.306 40.366

Super Midsize Jet

+5,6%

-19,0%

+31,2%

120.759 105.073

Light Jet 40.257 28.317

Entry Level Jet 3

34.716

Overall, in 10 years, movements measured by departures expanded 12%. That is probably what would have been seen on a per year basis a decade ago, but that was a different era, and that was logically unsustainable. If Business Aviation remembers where it has come from (12%, or an average of 1.2% of traffic growth per year), then it is not at all negligible.

+59,5%

51.392 67.403

Super Light Jet

Turboprop

+274,9%

100.227 105.852

Heavy Jet

Very Light Jet

2014

15.678 58.773

Ultra Long Range

Growth in the market clearly comes from the ultra long-range segment (+275%!), the super midsize jets (Falcon 2000, Gulfstream G450 and the super light jet (Citation XLS, Lear 35 and 40). The segment suffering the most is clearly the entry level jets, although this is more than tempered by the very promising, even though somewhat overdue, results of Very Light Jets (Diamond, Eclipse and smaller Phenoms).

-13,0%

-29,7%

+1.157.100,0%

173,461 171,198

The part to remember here is that the heavy jets segment is now, and for the first time ever, the segment that is the most used in Europe – more than light jets, with the exception of the work horse of the industry, the turboprop, which is now in slight decline.

-1,3%

fig 9

Annual Review 2014-2015

9

STATE OF THE INDUSTRY Business Aviation Airports Top-10 BusAv Airports Average Daily Departures

80.0 70.0 60.0 50.0 40.0 30.0 20.0 10.0 0

Paris Geneve Le Bourget Cointrin

Nice 2009

London/ Luton 2010

Moskva/ Vnukovo 2011

Zurich Farnborough Milano CIV Linate 2012

2013

Roma Ciampino

Wien Schwechat

2014

fig 10

Regarding departures from the top-10 airports over the last six year, the result is mixed. Nice, Luton and Farnborough are in growth mode, and have been for the last five years. For the top-two airports, the trend is more difficult to grasp. Le Bourget has yo-yoed year in year out, but 2014 ended on a positive note. This is unfortunately not the case of Geneva, the second biggest airport, where traffic has continued to decline since 2011. Zurich finds itself in a similar configuration. Is there a Swiss case?

10

Similarly the two major Italian airports have witnessed a continuous decline in movements; however, last year they recorded their first growth years in five years, which bodes well for the future. If major Business Aviation airports don’t reflect the positive trends witnessed in other KPIs, then where do operators fly to and from? The answer is relatively straightforward: “somewhere else”. This means airports that are not in the top-10. So Business Aviation is likely to see some changes in the list in the months and years to come.

STATE OF THE INDUSTRY Business Aviation and Safety Number of Fatal Accidents of EASA and Thirdcountry Registered Business Aviation Aeroplanes

19

19

17

18 14 9

8

1 2005

7 3

2006

1 2007

2

2

2008

2009

5 1 2010

8

7

2011

2

2012

1 2013

EASA MS registered

Third Country registered

Linear (EASA MS registered)

Linear (Third Country registered)

2

2014

fig 11

The trend for Business Aviation safety is markedly positive. In 10 years, with traffic expanding (even if only slightly), European Business Aviation overall has maintained its very robust safety record with the number of fatal accidents sitting at an average of two per year. The other news is that in the rest of the world, despite a poor 2014 with 18 fatal accidents, there is a downward trend (just under 11 fatal accidents on average per year today – where 10 years ago the number was 14). That’s still 11 too many of course, but if the trend achieved between 2011 and 2013 could be reiterated over a longer period, that would be a major achievement.

Annual Review 2014-2015

Hopefully the new TCO (Third Country Operators Regulation, imposed by EASA and MS on any foreign-registered aircraft flying to the EU) will contribute to keep that trend even lower. The point to highlight here is, despite 201415’s news headlines of dark days in aviation safety, which have made a strong impression on people, Business Aviation cannot be considered as having poor safety records and reputation. This is particularly important to remember at times like these.

11

A CHALLENGING INDUSTRY Like any industry living in a constantly evolving economic world, Business Aviation faces many challenges. On the one hand, Business Aviation is an industry that is characterised as separate

from other kinds of aviation through its own singularities; on the other hand, however, it faces the same global challenges that every economic entity knows.

Challenges from the Inside Means of booking a business aviation flight 10%

Share of addressable market

40%

60% OF THE MARKET COVERED BY BROKERS

Large brokers

Small brokers

48%

Online brokers Direct (operator)

2%

fig 12

Only 40% of Business Aviation passengers book their flight directly via the operators. So far so good. After all, this figure is even smaller for airlines. But what airlines have that Business Aviation doesn’t are Global Distribution Systems (GDSs), the running costs of which are only a tiny, almost insignificant fraction of the final fare due to the volume generated.

Nothing of the sort for Business Aviation. Only 2% of the deals are made online. The remaining 58% are booked by brokers – ranging from the self-employed broker with a computer and a phone (90% of the deals), to the well-established broker company employing more than 10 people. Of course brokers are essential in bringing deals to operators, but this has a cost.

Positioning flights Average positioning flights

46% 44% 42% 40% 38% 36% 34%

2012

2013

2014

fig 13

Despite a surge in 2014, which remains unexplained, the trend in positioning flights is still downwards. Business Aviation has managed to decrease empty aircraft by 5% over the last three years (if we remain enthusiastic that the last trimester was an isolated blip in an otherwise decreasing trend). 12

At around 39% though, this is still quite significant. Unless operators can reach, and eventually get under the 1/3 (33%) mark, this will continue to weigh heavily on their operations and fares.

A CHALLENGING INDUSTRY Fleet growth vs traffic 20% 15% 10% 5% 0% -5% -10% -15% -20%

2005

2006

2007

2008

2009

Fleet Growth

2010

2011

2012

2013

2014

Traffic Growth

fig 14

The Business Aviation fleet expansion is without a doubt a good thing; it surely is for the OEMs and the managing companies. However, overall for the sustainability and margins of the sector this is more questionable, especially if the fleet grows faster than the traffic (demand). This

would lead to a form of overcapacity – supply outweighing demand. On average, it means that the asset is used less, while its depreciation remains (almost) unchanged compared to a scenario where the aircraft would be used intensively.

Challenges from the Outside Full prices Jet A1 Evolution

€ 2.80 € 2.60 € 2.40 € 2.20 € 2.00 € 1.80 € 1.60 € 1.40 € 1.20 € 1.00

2010

2011

2012

2013

2014

fig 15

The price per gallon has literally collapsed. It was at an all-time high of € 2.4 per gallon in late 2012, and fell to the current € 1.45 per gallon today. That’s a drop of 40% (!). The result for Business Aviation operating costs is, at least for a period of time, a slashing by half of 21% of our operating costs. And this happened almost

Annual Review 2014-2015

overnight (in fact, it took less than six months to unfold). So the equivalent is 10.5% of the total operating costs removed. All things being equal, this alone could have easily been the best news the industry has received in these challenging times.

13

A CHALLENGING INDUSTRY According to the European Commission, the oil price fall should stimulate activity... The recent steep fall in oil prices should provide a boost to EU GDP over the forecast horizon but will further depress headline inflation this year. The decline in oil prices is substantial and market expectations suggest an only gradual rebound. Lower oil prices over the forecast horizon are expected to benefit EU real GDP growth by raising the real disposable income of households and by widening corporates’ profit margins. Higher real incomes and profits should also help households and firms to service their debt and continue deleveraging, provided that, as it is assumed in this forecast, the fall in oil prices does not lead to second-round effects on income and wages and a subsequent increase in the real debt burden. However, with nominal interest rates close to zero, central banks have limited options to prevent an unwarranted increase in real interest rates. This should lessen the positive impact of the oil price fall to some extent.

Route Charges Route charges

+ 8.4% since 2010

€ 148,000,000 € 144,000,000 € 142,000,000 € 140,000,000 € 138,000,000 € 136,000,000 € 134,000,000 € 132,000,000 € 128,000,000

2010

2011

2012

2013

2014

fig 16

Route charges have increased by 8.4% in 5 years, in the face of the Single European Sky (SES) and the Functional Airspace Blocks (FABs) that are anything but functioning (or fabulous). Germany took the lead in unilaterally increasing its charges last year; and in total, the sector paid € 145m for 2014. That’s a significant amount, and one that is difficult to justify. The good news, though, is threefold. First, it is getting more and more difficult for Air Navigation Service Providers (ANSPs) to increase charges as they see fit. Despite serious setbacks and continuous postponements, the Single European Sky 2+ package (SESII+) has managed to establish a complex network

14

of obligations that are incumbent on Member States and ANSPs, and that should seriously hamper their natural, quasi monopolistic propensity to require more for the same service. Second, related to the route charge cost per unit, which is relatively stagnant, a big chunk of the increase here is due to the increase in traffic. Per movement, the average cost per flight remains below the € 100 mark (unit rate is close to € 5.5). Finally, ATM costs are worth only a small fraction of Business Aviation operating costs, around 3%, so subtle variations are unlikely to have a substantial impact on operating costs.

A CHALLENGING INDUSTRY Taxes Tax

€ 80,000,000

ETS

€ 70,000,000 € 60,000,000 € 50,000,000 € 40,000,000 € 30,000,000 € 20,000,000 € 10,000,000 €0

2010

2011

2012

2013

2014

fig 17

The taxes have been calculated by taking on board the EU ETS, which can be considered as a form of tax. The increase or decrease is mostly due to the varying traffic pattern, but not entirely. Last year, an increase of 9.3% in taxes was seen, far outpacing Business Aviation traffic growth. Together, these taxes (regular and EU ETS) represent slightly less than 1% of Business

Aviation operating costs. This may seem negligible; but, unlike charges, taxes (mostly collected through ‘per passenger’ duties, like in Germany, Italy, or the UK to name but a few countries) have nothing to do with the activity of the sector (charges are a different matter). Taxes are completely unproductive, in that they are not used by and for the sector. Needless to say, they come on top of the taxes any corporation, or operator, pay on its activity (VAT, earnings, etc.).

Revenue per Flight Indicator 160% RpF 2005 = 100

150% 140% 130% 120% 110% 100% 90%

2005

2006

2007

2008

The Revenue per Flight indicator (RpF) is a composite indicator that captures the benefits and the gains that our industry factors in. We notice that, the profitability of Business Aviation follows the same path as the rest of the economy. From one very factual perspective we can explain this pattern due to the fact that the cost of operations increased relatively less than the hourly rates. But this is forgetting the essence of Business Aviation, which is that

Annual Review 2014-2015

2009

2010

2011

2012

2013

2014

Business Aviation is nothing less than aviation for business! The sole transport industry that is defined and tailor-made to meet the transport needs of industries and business people for whom flexibility, time-gain, and access are key elements for their business, especially in today’s hyper-competitive environment. Business Aviation is more and more the unique transport mode that provides them with these benefits

15

LOOKING AHEAD: PROJECTS FOR 2015

Government

Industry

Public

The EBAA has identified the main challenges for Business Aviation as an industry and will continue working hard on its traditional activities as an Association. In addition, and in response to the industry’s concern about ‘misperception or negative perception’ of Business Aviation, the EBAA has sketched out a 3-year strategy to focus on integrated initiatives and better communication with four stakeholder groups: Industry, Government, Public, and Current and Potential Customers.

Cu

r re

nt &

Potential Custo

Description of Projects

me

rs

fig 18

Flight Duty and Time Limitations (FTL)

Audience: Government What: Demonstrate that the fatigue pattern of Business Aviation pilots in commercial operations differs from that of ‘routine’ pilots. Why: To advocate for a tailor-made FTL system for Business Aviation operations. How: Deliver a scientific study assessing the fatigue pattern of Business Aviation pilots

Augmented Approach to Land (AAL)

Audience: Government What: Maintain or increase access of Business Aviation to major hubs in Europe by demonstrating advanced landing procedures including interoperability between technologies such as SBAS and GBAS. Why: To position Business Aviation as a key player to consider when developing landing procedures. How: Take part in the consortium responsible for this SESAR Joint Undertaking project led by Netjets as coordinator.

Localiser Performance with Vertical Guidance (LPV)

Audience: Industry What: Augment network accessibility by deploying GPS approaches (LPV) at selected regional airports (selected 100). Why: To multiply the opportunities for Business Aviation to land in all weather conditions in secondary/tertiary airports. How: Partner with the European GNSS Agency (GSA) to address the different key success factors in deploying LPV.

Non-compliant Flights

Audience: Industry What: Assess, understand, and address non-compliant activities in Europe. Why: To provide decision makers with tangible facts on non-compliant flights. How: Disseminate the results of the study assessing the breadth and depth of non-compliant activities in Europe.

Value of Business Aviation

Audience: Government and Business What: Demonstrate the economic impact of the Business Aviation sector on the

16

LOOKING AHEAD: PROJECTS FOR 2015 Why: How:

European economy. To update the existing figures, which date back to 2009, giving us the foundation facts to demonstrate the case for Business Aviation. Contract consulting company to perform the analysis and produce the report.

Skills Shortage

Audience: Public What: Analyse the shortage of skills in Business Aviation. Why: To propose recommendations to fill the gaps, based on solid analysis of the current situation. How: Contract consulting company to perform the analysis.

E-CASE

Audience: Industry What: Create a safety data repository for members to access relevant information and analysis in real time. Why: To accompany the Business Aviation sector in complying with occurrence reporting legislation entering into force in fall 2015. How: Partner with an IT company to deliver the system.

Runway Performance

Audience: Government What: Extend the landing factor for CAT operations from 60 to 80% without impacting safety. Why: To advocate for a CAT legislation that is in line with NCC legislation. How: Deliver a scientific study assessing the safety impact of extending the landing factor for CAT operations.

Perception Audit

Audience: Government and Business What: Collect and analyse the views of Government and current/potential users (key EBAA audiences) to gain deeper insight into the perception/ reputation of Business Aviation, especially relating to specific project topics. Why: Mitigate the current perception of Business Aviation. How: Deliver a study portraying the views of governments and users.

RETROSPECTIVE EBACE 2014

Looking back to last year’s event, here are some key numbers : 13 256 Delegates 499 Exhibitors – one of the highest numbers in the show’s 14-year history! 56 Aircraft showcased 2 276 Spaces reserved HIGHLIGHTS: Frank Brenner, Director General, EUROCONTROL André Kudelski, Vice-Chairman of Aéroport International de Genève; Chairman and CEO, Kudelski Group Roland Werner, State Secretary of Transport, Saxon State Ministry for Economic Affairs, Labour and Transport

Annual Review 2014-2015

17

EBAA MEMBERS (as of 1 april 2015) Full Members (alphabetical) ABELAG, SA Belgium ABS JETS, j.s.c. Czech Republic ACROPOLIS AVIATION Ltd. United Kingdom AERO-DIENST GmbH & Co. KG Germany

EFS - EUROPEAN FLIGHT SERVICE Sweden ELIT’AVIA d.o.o. Slovenia

K-AIR Srl Italy

SUNDT AIR A/S Norway

LANDMARK AVIATION France

SW BUSINESS AVIATION Ltd. Azerbaijan

LONDON CITY AIRPORT JET CENTRE, Ltd. United Kingdom

SWISS JET AG Switzerland

EUROFLY SERVICE, SpA Italy

LONDON EXECUTIVE AVIATION United Kingdom

EXECUJET AVIATION GROUP Switzerland

LUXWING Ltd. Malta

EXECUTIVE AIRLINES, SL Spain

MALETH AERO LIMITED Malta

FAI - RENT-A-JET AG Germany

MASTERJET GROUP France

FLAIRJET Ltd. United Kingdom

MEDAVIA, Co. Ltd. Malta

AIR INDEPENDENCE GmbH Germany

FLYING SERVICE, NV Belgium

METROJET LIMITED Hong Kong

AIRFIX AVIATION Ltd. Finland

G5 EXECUTIVE, AG Switzerland

MHS AVIATION GmbH Germany

AIRLEC AIR ESPACE France

GAINJET, SA Greece

MJET GmbH Austria

ALBINATI AERONAUTICS SA Switzerland

GAMA AVIATION Ltd. & GROUP COMPANIES United Kingdom

NETJETS EUROPE United Kingdom

AEROVISION France AIR ALSIE, A/S Denmark AIR CHARTER SCOTLAND Ltd. United Kingdom AIR HAMBURG FTVERKEHRSGESELLSCHAFT mbH Germany

ALMAJET France ALPHA STAR AVIATION SERVICES Saudi Arabia

GENEL HAVACILIK AS Turkey GESTAIR SA Spain

AMIRA AIR GmbH Austria

GLOBAL JET CONCEPT, SA Switzerland

AMJET EXECUTIVE SA Greece

GLOBEAIR AG Austria

ARCUS EXECUTIVE AVIATION Switzerland

GROSSMANN JET SERVICE spol. s r.o. Czech Republic

ASTONJET France BALTIC JET AIRCOMPANY, Ltd. Latvia BUSINESS JET MANAGEMENT GmbH Austria CAPITAL JETS Russian Federation CAT AVIATION, AG Switzerland COMLUX MALTA Ltd. Malta DALIA AIR Morocco DASSAULT FALCON SERVICE France DC AVIATION GmbH Germany

18

E-AVIATION - EFD EISELE FLUGDIENST GmbH Germany

GRUP AIR-MED SA Spain HERMES EXECUTIVE AVIATION LIMITED Virgin Islands, British

NOMAD AVIATION AG Switzerland NORTH FLYING A/S Denmark ORION (MALTA) Ltd. Malta PANAVIATIC AS Estonia PANJET (PAN AVIATION) Turkey PREMIER AVIA Russian Federation PREMIUM JET Switzerland PRIVAJET Malta

HYPERION AVIATION Ltd. Malta

PRIVATAIR, SA Switzerland

IVORY JET SERVICES Djibouti

QATAR EXECUTIVE Qatar

IXAIR France

RIZON JET UK LIMITED United Kingdom

JET AVIATION BUSINESS Spain

ROYAL JET LLC United Arab Emirates

JETS, AG Switzerland

SAUDIA PRIVATE AVIATION Saudi Arabia

JETFLITE Oy Finland

SKYWORK EXECUTIVE AG Switzerland

JETFLY AVIATION SA Luxembourg

SUN-AIR OF SCANDINAVIA A/S Denmark

TAG AVIATION (UK) Ltd. United Kingdom TAG AVIATION, SA Switzerland TARKIM UCAK BAKIM ONARIM VE HAVACILIK AS Turkey TIRIAC AIR, SRL Romania TOYO AVIATION Romania TYROLEAN JET SERVICES Austria UNIJET, SA France VISTAJET LUFTFAHRTUNTERNEHMEN GmbH Austria VOLDIRECT SAS France WINDROSE AIR JETCHARTER GmbH Germany XCLUSIVE JET CHARTER LIMITED United Kingdom

Associate Members (alphabetical) 328 GROUP Germany

AEROPORT PAU PYRENEES France

AMAC AEROSPACE AG Switzerland

AVIATION BROKER GmbH Germany

3A MALTA LIMITED Malta

AEROPORTS DE CATALUNYA Spain

AB CORPORATE AVIATION France

AEROPORTS DE PARIS France

AMBIANCE PIERRE ET GRANIT France

AVIATION MANAGEMENT SYSTEMS, Inc. USA

ABACUS Isle Of Man

AEROWORKS INTERNATIONAL Co., Ltd. Japan

AMSTAT Inc. USA

AVIATION REGISTRY GROUP Ltd. LLLP USA

ABELAIR AVIATION Ltd. Cyprus ACASS Canada

AES AIRCRAFT ELEKTRO / ELEKTRONIC SYSTEM GmbH Germany

ACC COLUMBIA JET SERVICE GmbH Germany

AFFINITY MANAGEMENT SERVICES (MALTA) LIMITED Malta

ACH AIRCRAFT INTERIOR France

AIR BP Ltd. United Kingdom

ADLUX Switzerland

AIR CHARTER SERVICE, plc United Kingdom

ADSE CONSULTING & ENGINEERING Switzerland

AIR CULINAIRE WORLDWIDE USA

ADVANCED AIR SUPPORT France ADVANCED JETS USA AEGIS CORPORATE SERVICES LIMITED Malta AERO INTERNATIONAL c/o JAHR TSV GmbH & Co. KG Germany AEROCREDO Russian Federation AEROEX GmbH Switzerland AEROLUX Ltd. United Kingdom AERONAUTICA (MALTA) LIMITED Malta AERONAUTX LUFTFAHRTSCHULE GmbH Austria AEROPORT CANNES-MANDELIEU France AEROPORT COLMAR HOUSSEN France

AIR LINK INTERNATIONAL Ltd. Ukraine AIR SERVICE BASEL GmbH Switzerland AIR SUPPORT A/S Denmark AIR TOTAL INTERNATIONAL SA France AIRBUS CORPORATE JET CENTRE France AIRBUS HELICOPTERS SAS France AIRBUS SAS France AIRCRAFT CORPORATE SERVICES (MALTA) Ltd. Malta AIRCRAFT GUARANTY FINANCIAL CORPORATION USA

APOGEE OPERATIONS Ltd. United Arab Emirates APPLEBY Isle Of Man APRON AVIATION Turkey ARGOS VIP PRIVATE HANDLING, Srl Italy ARINC DIRECT United Kingdom ASE GROUP Morocco ASISTIM GmbH Germany ASTER JETFUEL DMCC United Arab Emirates ATLANTIC AIR CHARTER AND FLIGHT SUPPORT SERVICES CORPORATION Turkey ATLAS CORPORATE SERVICES LIMITED Isle Of Man ATR - AVIONS DE TRANSPORT REGIONAL France AURORA AVIATION SA United Arab Emirates AVBUYER United Kingdom

AIRSERVICE BREMGARTEN GmbH Germany

AVEX AVIATION EXPERTS AG Switzerland

ALDOWALIYA AIR Iraq ALPARK Switzerland

AEROPORT INTERNATIONAL DU CASTELLET France

ALTENRHEIN AVIATION Ltd. Switzerland

Annual Review 2014-2015

AP AERONAUTICAL PROFESSIONALS MALTA Ltd. Malta

AIROPS SOFTWARE Ltd. United Kingdom

AEROPORT D’AVIGNON France

AEROPORT LYON-BRON France

AMSTERDAM SOFTWARE BV / FBO ONE Netherlands

ALTITUDE AEROSPACE INTERIORS LIMITED New Zealand

AVIA GROUP Ltd. Russian Federation AVIA MALDIVES Pvt. Ltd. Maldives AVIABEL SA Belgium AVIAPARTNER L.L.C. Russian Federation AVIASTRA FLIGHT CHARTER Ltd. United Kingdom

AVIATION SERVICES MANAGEMENT Ltd. United Arab Emirates AVIATION SPARES AND REPAIRS Ltd. United Kingdom AVIATRAX Ltd. (MALTA) Malta AVIATRAX SA Luxembourg AVICON AVIATION Pakistan AVINODE Sweden AVJET ROUTING FLIGHT SUPPORT United Arab Emirates AVOCET AVIATION UK Ltd. United Kingdom BACC - BUSINESS AVIATION CENTRE COLOGNE GmbH Germany BAHCO - SNA EUROPE [Deutschland] Germany BALDWIN AVIATION USA BANK CIC SUISSE SA Switzerland BANK OF AMERICA MERRILL LYNCH United Kingdom BART INTERNATIONAL Belgium BBA AVIATION USA BBGA - BRITISH BUSINESS AND GENERAL AVIATION ASSOCIATION United Kingdom BEDEK AVIATION / AERO HANDLING Ltd. Israel BERMUDA GOVERNMENT Bermuda BIZAV SERVICES Ltd. Malta BIZJET, SA Switzerland BLAKE TECHNICAL SARL Switzerland

19

EBAA MEMBERS (as of 1 april 2015) BLUM&GROB ATTORNEYS AT LAW Ltd. Switzerland BOMBARDIER BUSINESS AIRCRAFT Canada BOUTSEN AVIATION SAM Monaco BOUTSEN DESIGN SARL Monaco

DRABPOL Sp. JAWNA Poland

CHARTER GREEN LIGHT Russian Federation

E-AVIATION SWISS Sagl Switzerland

CHARTERSCANNER United Arab Emirates

EAN AVIATION Nigeria

CHECKPORT AVIATION SECURITY France

EBAA FRANCE France

FINSERVE AVIATION INSURANCE Belgium FLIGHT SUPPORT MALDIVES Pvt. Ltd. Maldives FLIGHTFORCE SAM Monaco

EBAA SWITZERLAND Switzerland

FLIGHTSAFETY INTERNATIONAL UK, Ltd. United Kingdom

ECAIR AVIATION France

FLIGHTSERVE UK Ltd. United Kingdom

ECLIPSE France

FLIGHTWORX AVIATION Ltd. United Kingdom

BUILDAIR Spain

CHEERFUL JET GROUND SERVICE Co.,Ltd. China

BUSINESS AND COMMUTER AIRCRAFT France

CHETCUTI CAUCHI ADVISORS Ltd. Malta

BUSINESS AVIACO PARTNER LIMITED Cyprus

CLARK RICKETTS LLP United Kingdom

ELBIT SYSTEMS Ltd. Israel

FLITELINE BV Netherlands

CLYDE & Co LLP United Kingdom

EMBRAER EXECUTIVE JETS United Kingdom

FLY VICTOR LIMITED United Kingdom

COLT INTERNATIONAL Switzerland

EMCSI CORPORATE SERVICE Ltd. Malta

FLYGPRESTANDA AB Sweden

BUSINESS AVIATION CLUB Russian Federation BUSINESS AVIATION COMPANY Ltd. Russian Federation BUSINESS AVIATION SCHOOL PARIS France BUTZBACH GmbH INDUSTRIETORE Germany CABINET CHESNEAU FISCHEL France CAE United Kingdom CAMILLERI PREZIOSI Malta CAMPOMORI - AVIATION & LAW Italy

CONSORCIO AVIATION SRL Paraguay CONTINENTAL JET SERVICES United Arab Emirates COREB Switzerland CORJET MAINTENANCE Spain CREDIT SUISSE AG Switzerland CRS JET SPARES USA CYBERJET SAS France D-JET Switzerland

CARTER GREEN AEROSPACE United Kingdom

DAHER-SOCATA France

CARYS INVESTMENT GROUP LIMITED Virgin Islands, British

DAO AVIATION Denmark

CAVENDISH TRUST COMPANY LIMITED Isle Of Man CB VATAMERICA LLC USA CEDAR JET CENTER / MEAG Lebanon CEEVO - COMITE D’EXPANSION ECONOMIQUE DU VAL D’OISE France CELEBI GROUND HANDLING, Inc. Turkey CEMAIR Pty. Ltd. South Africa CERRETANI AVIATION GROUP, LLC USA

20

CESSNA AIRCRAFT - (UK) United Kingdom

DASSAULT AVIATION France DB AVIATION CONSULTANCY LIMITED United Kingdom DC AVIATION Ltd. Malta DELOITTE Malta DELTA AEROTAXI SRL Italy DEPARTEMENT DE LA SEINE SAINT DENIS France

EMD ADVISORY SERVICES LIMITED Malta EMS - EUROPEAN MAINTENANCE SERVICE AB Sweden

FOGLIZZO LEATHER Srl Italy FOKKER SERVICES BV Netherlands FRANKE CARE SYSTEM GmbH & Co. KG Germany

ENGEL&VÖLKERS AVIATION Luxembourg

FREEDOM AIR, Ltd. United Kingdom

EQUIOM Isle Of Man

FREESTREAM AIRCRAFT, Ltd. United Kingdom

ERCUIS & RAYNAUD France

FUTURE FLIGHT SUPPORT Saudi Arabia

ERMINI AG Switzerland

G.OPS France

EURO JET INTERCONTINENTAL Ltd. Czech Republic

GALLERY TO FLY Russian Federation

EUROPAIR BROKER SA Spain EUROPEAN GNSS AGENCY Belgium EXCELLIUM LLC Russian Federation F. LIST GmbH Austria F.H. LAMBERT LIMITED United Kingdom FARNBOROUGH AIRCRAFT INTERIORS United Kingdom FCG - FLIGHT CONSULTING GROUP, Ltd. Cyprus

DIAMOND HANGAR LIMITED United Kingdom

FENECH & FENECH ADVOCATES Malta

DIEHL AEROSYSTEMS Germany

FFF LEGAL Malta

GANADO ADVOCATES Malta GAS GERMAN AVIATION SERVICE GmbH Germany GATE GOURMET SWITZERLAND GmbH Switzerland GBAA - GERMAN BUSINESS AVIATION ASSOCIATION, e.V. Germany GE CAPITAL Switzerland GENERAL AERO COMPANY, Inc. USA GENERAL AVIATION SERVICE SL Spain GENEVA AIRPARK SA Switzerland GET INTO MALDIVES TRAVELS Pvt. Ltd. Maldives

GKN AEROSPACE SWEDEN AB Sweden GLOBAL AVIATION BUSINESS Andorra GLOBAL FUEL ESTABLISHMENT Iceland GLOUCESTERSHIRE AIRPORT Ltd. United Kingdom GOLDAIR HANDLING, SA Greece GOODWILL PRIVATE JETS France GÖZEN AIR SERVICES Turkey GRACE JET Bahrain GREAT CIRCLE SERVICES AG Switzerland HADID INTERNATIONAL SERVICES - (UAE) United Arab Emirates HAITEC AIRCRAFT MAINTENANCE GmbH Germany HARRODS AVIATION Ltd. United Kingdom HAYWARD AVIATION, Ltd. United Kingdom HELIPARK GmbH Germany HFIS SARL Switzerland HONDA AIRCRAFT COMPANY USA HONEYWELL INTERNATIONAL s.r.o. Czech Republic HORIZON SWISS FLIGHT ACADEMY Switzerland HQ FOOD & BEVERAGE S.r.l. Italy HSF SAVUNMA HAVACILIK Ltd. STI Turkey HUNT & PALMER PLC United Kingdom HYDREP, SA France IACOBUCCI HF AEROSPACE SpA Italy IBAA - ITALIAN BUSINESS AVIATION ASSOCIATION Italy ICM AVIATION Isle Of Man

Annual Review 2014-2015

IDAIR GmbH Germany

KEITAS SYSTEMS France

MEYER AVOCATS Switzerland

IFAERO France

KENNEDYS AVIATION LLP United Kingdom

IMPEX AVIATION CORP., Inc. USA

KLM JET CENTER Netherlands

MEYERLUSTENBERGER LACHENAL Switzerland

INFLIGHT DUBLIN Ltd. Ireland

KUERZI AVIONICS AG Switzerland

INMARSAT United Kingdom

LEVANT AERONAUTICS Cayman Islands

INNOVINT AIRCRAFT INTERIOR GmbH Germany

LONDON BIGGIN HILL AIRPORT Ltd. United Kingdom

INTERNATIONAL AIR SAFETY OFFICE, Inc.THE REGISTRY OF ARUBA USA

LONDON OXFORD AIRPORT United Kingdom

INTERNATIONAL FLIGHT SUPPORT Denmark

LONG RANGE AG Switzerland LUFTHANSA TECHNIK AG Germany

IQJETS Germany

LUGANO AIRPORT SA Switzerland

ISLE OF MAN AIRCRAFT REGISTRY Isle Of Man

LUXE PLAN France

J. MESINGER CORPORATE JET SALES,Inc. USA JAVAJET ASIA, PT Indonesia JCB AERO France JEM CONSULT GERMANY Germany JEPPESEN, GmbH & Co. Germany JERSEY AIRCRAFT REGISTRY Jersey JET AVIATION AG Switzerland JET LOGIC LIMITED United Kingdom JET SUPPORT SERVICES, Inc. - (JSSI) United Kingdom JET TRANSFER Russian Federation JET TRAVEL CLUB - JTC Ltd. Russian Federation JETBASE Lda. Portugal JETCRAFT CORPORATION USA JETS BIGGIN HILL Ltd. United Kingdom JETSUPPORT BV Netherlands JSC CDOS CA AEROTRANS Russian Federation

LUXMEDIA GROUP France LYNX JET PRIVATE FLIGHTS Israel M-PLIFY SA Luxembourg M.C.M. GROUP Malta MACH MEDIA Belgium MAGNA AVIATION Greece MAINLAND GROUNDEXPRESS LIMITED (CHINA) China MALLORCAIR, SL Spain MALTA ENTERPRISE CORPORATION Malta

MNG JET HAVACILIK AS Turkey MOONJET FLIGHT SUPPORT United Arab Emirates MOTOR PRESSE STUTTGART GmbH & Co. KG Germany MOTOTOK INTERNATIONAL GmbH Germany MRX SYSTEMS SA Luxembourg MTS AVIATION Sweden MTU MAINTENANCE BERLIN BRANDENBURG GmbH Germany NEWREST Switzerland NEXUS FLIGHT OPERATIONS SERVICES Saudi Arabia NORTHERN AVIONICS Italy NOIKOV CATERING FOR BUSINESS AVIATION Russian Federation OCRA AEROSPACE (ISLE OF MAN) LIMITED Isle Of Man OHS AVIATION SERVICES GmbH Germany OMNI HANDLING Lda. Portugal ONAIR INTERNATIONAL Srl Italy ONAIR SWITZERLAND Switzerland

MARSHALL AEROSPACE AND DEFENCE GROUP United Kingdom

ONLY JET SUISSCOURTAGE GROUP Monaco

MARTYN FIDDLER ASSOCIATES LIMITED United Kingdom

OPMAS Denmark

MAYER BROWN France MBAA - MALTA BUSINESS AVIATION ASSOCIATION Malta

PAR AVION Ltd. USA PARAMOUNT BUSINESS JETS USA

MEDAIRE Ltd. United Kingdom

PARROT SA France PDC AVIATION Denmark

MEGGITT USA USA

PERFECT AVIATION SA Switzerland

21

EBAA MEMBERS (as of 1 april 2015) PHB - OPS GROUND HANDLING SERVICES Uruguay PHONAK COMMUNICATIONS AG Switzerland PIAGGIO AERO INDUSTRIES SpA Italy PILATUS AIRCRAFT Ltd. Switzerland PMG GROUP GmbH Germany PMV INDUSTRIE France POLTRONA FRAU SpA Italy PORTUGAL TOURIST SERVICES - (PTS) Portugal PREMIER CATERING France PRIMUS AIRCRAFT MANAGEMENT SOLUTIONS Austria PRIVATEFLY Ltd. United Kingdom PROFIJET SA Switzerland PT AFM AVIASI INDONESIA Indonesia QAPS GROUP BV Netherlands QCM Switzerland R&R AVIATION CONSULTING GmbH Austria REGENCY AIR CHARTER Ltd. United Kingdom REHEAT INTERNATIONAL United Kingdom RESOURCE CONSULTING AG Switzerland RETURNJET United Kingdom ROCKETROUTE United Kingdom ROCKWELL COLLINS United Kingdom ROLLS-ROYCE PLC Germany ROMANIAN AIRPORT SERVICES Romania RUAG DEUTSCHLAND GmbH Germany

22

RUBAA - RUSSIAN UNITED BUSINESS AVIATION ASSOCIATION Russian Federation

SHANNON AIR LINK Ltd. Ireland

SWISS BUSINESS AIRPORTS Switzerland

RUSAERO CCAS Russian Federation

SHANNON AIRPORT INTERNATIONAL AVIATION SERVICES CENTRE Ireland

SWISSPATH AVIATION AG Switzerland

S.B-MAN & Co Ltd. Ghana

SIA CAPITAL HANDLING Latvia

SABENA TECHNICS France

SIGNATURE FLIGHT SUPPORT United Kingdom

SAC - SWISS AVIATION CONSULTANTS GmbH Switzerland

SIGNATURE FLIGHT SUPPORT SAS France

SAFRAN France

SIKORNIR SA Switzerland

SAINT ROYAL AVIATION China

SKY HANDLING GmbH Germany

SAN MARINO AIRCRAFT REGISTRY San Marino

SKY SERVICES SpA Italy

SAS PIERRE BROCHARD France SATCOM DIRECT USA SATCOM1 Denmark SATORI France SCANDINAVIAN AIRCRAFT TECHNOLOGIES A/S Denmark SCANDINAVIAN AVIONICS, A/S Denmark

SKYCHARTER LIMITED Canada SKYGUIDE Switzerland SKYLINK SERVICES Ltd. Cyprus SKYPRO AVIATION LIMITED Latvia SNC-LAVALIN AEROPORTS France SOCAR ENERGY SWITZERLAND Switzerland

SWISSPORT EXECUTIVE AVIATION Switzerland SYNERCO SA Switzerland TAG AERONAUTICS Ltd. Canada THE JET BUSINESS INTERNATIONAL United Kingdom TISCA TIARA MOBILITY TEXTILES Switzerland TLC AVIATION Sint Maarten TMIL United Kingdom TOP AVIATION Egypt TRANSPORT MALTA Malta TRAVCON CHARTER BROKERS Switzerland TRS AVIATION CONSULTING GmbH Germany UBS AG Switzerland

SOGAERDYN SpA Italy

UKIP MEDIA & EVENTS United Kingdom

SOVEREIGN BUSINESS JETS United Kingdom

UNITED AVIATION SERVICES United Arab Emirates

SPECTRO / JET-CARE United Kingdom

UNIVERSAL TURBINE PARTS USA

SEA PRIME SpA Italy

SR TECHNICS SWITZERLAND Switzerland

SEACA France

ST GROUP France

UNIVERSAL WEATHER & AVIATION, Inc. United Kingdom

SEAF Spain

STANSTED NEWS LIMITED United Kingdom

SEINE ET MARNE DEVELOPPEMEN France

STARS AIRLINES SERVICES Tunisia

SCANDLEARN Sweden SCHELLENBERG WITTMER Ltd Switzerland

SELA France SFERA JET Russian Federation SG EQUIPMENT FINANCE, AG Switzerland SGI AVIATION Netherlands

STOBART EXECUTIVE LONDON SOUTHEND AIRPORT United Kingdom STRATAJET United Kingdom STUEKERJUERGEN AEROSPACE COMPOSITES GmbH & Co. KG Germany

UPPERSKY CATERING France VECTOR AEROSPACE United Kingdom VERHAEGEN WALRAVENS Belgium VERSPIEREN, SA France VIENNA AIRCRAFT HANDLING Ltd. Austria VIP AVIATION Georgia VIPPORT CJSC Russian Federation

VISION SYSTEMS France

WYVERN CONSULTING, Ltd. USA

WEB MANUALS SWEDEN AB Sweden

YASAVA AERONAUTICS Switzerland

WINGX ADVANCE GmbH Germany

YOUR CHARTER SOLUTIONS Russian Federation

WM-ELECTRONICS Austria

ZOTEFOAMS Plc United Kingdom

Affiliate Members (alphabetical)

Annual Review 2014-2015

23

Avenue de Tervuren 13 a / Box 5 BE- 1040 Brussels, Belgium Phone: +32 2 766 00 70 Fax: +32 2 768 13 25 www.ebaa.org [email protected]