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Experts forecast long recovery for private jet industry

Some experts forecast a long recovery period for the private jet industry. Tight credit, poor public relations, and a glut of used aircrafts will continue to hamper the industry for years to come.

“We don’t see the number of deliveries even hitting 2008′s level in the next 10 years,” commented aviation consultant Brian Foley.

According to the General Aviation Manufacturers Association, deliveries of business jets dropped by more than a third during the first quarter of the year. And experts say that private jet manufacturers are in danger of receiving more cancellations from micro business companies as well as individual buyers.