Study Confirms Business Aviation Key To Success


Business Aviation Key to Success for Well-Managed Companies

One key to a successful business is the use of business aviation aircraft which was confirmed by a study put on by the No Plane – No Gain initiative. When looking at S&P 500 companies, it was shown that, by a host of measures, the use of business aviation is the sign of a well-managed enterprise among America’s most highly valued and well-respected companies.

“This report reaffirms what study after study, from one decade to the next, have repeatedly found: smart entrepreneurs and companies understand the value of business aviation in making them more efficient, productive, nimble and competitive,” said NBAA President and CEO Ed Bolen. “As this report makes clear, these are America’s most innovative companies, most admired companies, best brands, best corporate citizens, and best places to work.”

The study, “Business Aviation and Top Performing Companies, 2017,” is the sixth completed by NEXA Advisors, LLC. It builds on previous NEXA studies, in focusing on the ways S&P 500 companies utilize business aircraft to create enterprise value. The report was commissioned for the No Plane No Gain advocacy initiative, which is cosponsored by NBAA and the General Aviation Manufacturers Association (GAMA).

The study examines the financial performance of the S&P 500 between 2012 and 2017, and finds that, over that period, S&P 500 companies utilizing business aviation to support their missions outperformed those not using business aviation, as demonstrated by a number of key metrics, including drivers of shareholder value.

The latest NEXA study highlights three additional financial drivers positively impacted by using business aviation: Revenue or market share growth, profit growth and asset efficiency. Non-financial indicators positively influenced by using business aviation include customer and employee satisfaction.

The study also indicates that companies that closed their flight departments experienced less financial success, compared to those that continued to utilize business aviation, even during economic downturns. The study also shows that, using a “best of the best” analysis, leading of the S&P 500 overwhelmingly use business aircraft.  These include:

  • 98 percent of the top 50 among the “World’s Most Admired Companies,” a list of the global top companies by reputation, compiled by Fortune magazine
  • 100 percent of the 100 companies in Forbes magazine’s listing of “100 Most-Trustworthy Companies in America”
  • 95 percent of the “Change the World Top 20,” as rated by Fortune magazine
  • 92 percent of the 100 Best Corporate Citizens, according to the CRO 2017
  • 95 percent of the top 100 companies in Forbes magazine’s listing of “100 Best Places to Work”

Download Part I: Business Aviation: An Enterprise Value Perspective – The S&P 500 (PDF).

Download Part II : Business Aviation: An Enterprise Value Perspective – Small and Medium Enterprises (PDF).

Download Part III: Government Use of Aircraft: A Taxpayer Value Perspective (PDF).

Download Part IV: Business Aviation: Maintaining Shareholder Value Through Turbulent Times (PDF).

Download Part V: Business Aviation and the World’s Top Performing Companies (PDF).

Download Part VI: Business Aviation and Top Performing Companies 2017.

About NBAA

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 11,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Business Aviation Convention & Exhibition, the world’s largest civil aviation trade show. Learn more about NBAA at

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