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GAMA, NBAA Welcomes New Study Showing Business Aviation Helps Companies Be More Efficient, Productive

GAMA NEWS 09-27 For Immediate Release: Sep 24, 2009

Katie Pribyl, GAMA (202) 393-1500, 
Dan Hubbard, NBAA (202) 783-9360,

WASHINGTON, DC, September 24, 2009 – The General Aviation Manufacturers Association (GAMA) and the National Business Aviation Association (NBAA) today welcomed a new study showing that, by a host of measurements, companies using business aviation outperform those without aircraft.

“This study shows what the people in the business aviation community have always known,” said NBAA President and CEO Ed Bolen. “A business airplane is the sign of a well-managed company, because business aviation helps companies of all sizes be more efficient, productive and competitive.”

“It’s no surprise that America’s best-performing and most-admired companies rely on business aviation to provide concrete and unique competitive benefits that are reflected in shareholder and enterprise value,” said GAMA President and CEO Pete Bunce.

The study, conducted by NEXA Advisors, concludes: “Business aircraft users had a dominant presence, on average of 92 percent, among the most innovative, most admired, best brands, and best places to work, as well as dominating the list of companies strongest in corporate governance and responsibility.” The report also finds that business aviation alone is the only asset capable of accelerating strategic transactions and therefore providing a competitive edge to top-performing companies.

The study’s authors examined how companies included in the Standard & Poor’s (S&P) 500 performed in revenue growth, profit growth and asset efficiency from 2003 through 2008, the most recent six-year period for which complete data was available. Business aircraft use was tied to key enterprise drivers outlined in the study; S&P 500 executives were also extensively interviewed, and an independent cross-reference of findings was performed.

“In conducting this study, we found that companies using business aircraft outperform non-users across every key financial and non-financial measure of business success,” said the study’s lead author, Michael Dyment, managing director of NEXA Advisors. By way of illustration, Dyment pointed to a number of compelling findings included in the study. For example:

  • Average annual revenue growth on a market cap-weight¬ed basis was 116 percent higher for users of business aircraft than for non-users;
  • Average annual earnings growth was 434 percent higher for users of business aircraft than for non-users;
  • Total stock and dividend growth was 252 percent higher for users of business aircraft than for non-users;
  • Total share price growth was 156 percent higher for users of business aircraft than for non-users, and;
    Market capitalization growth as measured by market value growth was 496 percent higher for business aircraft users than for non-users;

The study also points to a number of other noteworthy connections between well-run companies and those that use business aviation, including the following:

  • Among Business Week magazine’s 2009 “50 Most Innovative Companies,” 95 percent of the S&P 500 companies were business aircraft users;
  • Among the same magazine’s 2009 “25 Best Customer Service Companies,” 90 percent of the S&P 500 companies were business aircraft users;
  • Among Fortune magazine’s 2009 “100 Best Places to Work,” 86 percent of the S&P 500 companies were business aircraft users;
  • Among the same magazine’s “World’s Most Admired Companies,” for 2009, 95 percent of the S&P 500 companies were business aircraft users;
  • Among Business Week/Interbrand’s 2008 “100 Best Brands,” 98 percent of the S&P 500 companies were business aircraft users, and;
  • Among The CRO’s 2009 “100 Best Corporate Citizens,” 90 percent of the S&P 500 compa¬nies were business aircraft users.

The study comes as GAMA and NBAA continue to highlight the value of business aviation to citizens, companies and communities across the U.S., through the two associations’ joint advocacy campaign, “No Plane No Gain.” Launched earlier this year, the campaign educates policymakers and opinion leaders about the essential role of business aviation in the nation’s economy and transportation system. To learn more, visit

For the NEXA Capital Partners Study, view attached or visit:

GAMA is an international trade association headquartered in Washington, DC representing 67 of the world’s leading manufacturers of general aviation aircraft, engines, avionics and related equipment. GAMA’s members also operate fleets of aircraft, fixed based operations, and pilot training and maintenance training facilities. For additional information, visit GAMA’s website at

Founded in 1947 and based in Washington, DC, the National Business Aviation Association (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The Association represents more than 8,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Annual Meeting & Convention, the world’s largest civil aviation trade show. Learn more about NBAA at

NEXA Advisors provides highly specialized transaction-focused advisory services to companies and management teams in the aerospace and transportation sectors in the U.S. and around the world. Committed
to delivering enterprise value through innovation, NEXA Advisors collaborates with our clients to help them
become high-performance businesses. The ultimate measure NEXA’s value and workflow analysis initiatives is their clients’ ability to drive and deliver enterprise value. Learn more about NEXA at

Communications Director:
Andre Castro:
General Aviation Manufacturers Association
Headquarters: (+1) 202-393-1500
European Office: (+32) 2 550-3900

GAMA exists to foster and advance the general welfare, safety, interests, and activities of the global business and general aviation industry. This includes promoting a better understanding of general aviation manufacturing, maintenance, repair, and overhaul and the important role these industry segments play in economic growth and opportunity, and in serving the critical transportation needs of communities, companies, and individuals worldwide.