Brexit - possible impact on Business Aviation
The European Business Aviation Association (EBAA) has published a Brexit analysis report, calling for negotiators in both Brussels and London to preserve the current aviation relationship as far as possible.
The report entitled „Brexit scenarios for Business Aviation“ presents the current relationship between the EU and the UK, before presenting six scenarios for a future one. It maps out the key topics of interest for the business aviation industry - traffic rights, ownership and control, VAT/customs duty and the future relationship with the European Aviation Safety Agency (EASA) – analysing how these topics would fare under a future scenario.
Through this analysis the report concludes that maintaining the existing relationship as far as possible is key in avoiding detrimental impacts on the business aviation community. This scenario is closely followed by a scenario where the UK joins the European Economic Area, an approach taken by countries such as Norway, Iceland and Liechtenstein.
Key Facts About Business Aviation
> About 374,000 European jobs are either directly or indirectly dependent on the European Business Aviation sector.
> The operation of business aircraft in Europe generates €42bn in Output, €15bn in Gross Value Added (equivalent to about the total GDP of Cyprus), and €10bn spent in salaries.
> Germany, the UK, Switzerland, Italy and France are the key locations where business aircraft operate, accounting for 57% of all direct, indirect and induced jobs. At the regional level, major centres for business aviation activities are: Paris (Île-de-France), Greater London and Geneva.
>The total effect of Business Aviation (incl. manufacture) on the European Gross Domestic Product (GDP) is comparable to Latvia’s contribution to the European economy.
The full report can be found here!