Business jets are a handy economic barometer in the United States. When times are good, executives and small business owners switch from the front of the commercial jet to the company plane.
America’s economic resurgence is good news for BBA Aviation, the FTSE 250 repairer of business jets and turboprop planes. It is a predominantly American company, with the bulk of its 220 sites there, and it makes about 90% of its money Stateside.
The company, chaired by former Boots and Invensys chairman Sir Nigel Rudd, was once a small Scottish manufacturer of industrial belting, but has been focused on aircraft for the past dozen years.
It has timed its recent growth well. Two years ago it bought an American rival, Landmark, for about $2bn.