Business Airport International
  • News
    • Accreditation
    • Aircraft
    • Airports
    • Charter
    • Construction
    • FBOs
    • Fuel
    • IT & Software
    • MRO
    • Partnerships
    • Passenger Experience
    • Sustainability
    • Technology
  • Features
  • Online Magazines
    • March / April 2025
    • Dec 2024 / Jan 2025
    • October 2024
    • July 2024
    • March / April 2024
    • Dec 2023 / Jan 2024
    • September / October 2023
    • Archive Issues
    • Subscribe Free!
  • Opinion
  • Videos
  • Supplier Spotlight
  • Surveys
  • Jobs
    • Browse Industry Jobs
    • Post a Job – It’s FREE!
    • Manage Jobs (Employers)
  • Events
LinkedIn YouTube X (Twitter)
LinkedIn YouTube
Subscribe to Magazine Subscribe to Email Newsletter Media Pack
Business Airport International
  • News
      • Accreditation
      • Aircraft
      • Airports
      • Charter
      • Construction
      • FBOs
      • Fuel
      • IT & Software
      • MRO
      • Partnerships
      • Passenger Experience
      • Sustainability
      • Technology
  • Features
  • Online Magazines
    1. March / April 2025
    2. Dec 2024 / Jan 2025
    3. October 2024
    4. July 2024
    5. March / April 2024
    6. Dec 2023 / Jan 2024
    7. September / October 2023
    8. July 2023
    9. Archive Issues
    10. Subscribe Free!
    Featured
    2nd April 2025

    In this Issue – March / April

    Online Magazines By Paige Smith
    Recent

    In this Issue – March / April

    2nd April 2025

    In this Issue – December / January 2025

    19th December 2024

    In this Issue – October 2024

    10th October 2024
  • Opinion
  • Videos
  • Suppliers
    • Supplier Spotlight
    • Press Releases
  • Surveys
  • Jobs
    • Browse Industry Jobs
    • Post a Job – It’s FREE!
    • Manage Jobs (Employers)
  • Events
LinkedIn YouTube
Business Airport International
FBOs

Coronavirus: Signature takes steps to secure FBO network during crisis

Ben SampsonBy Ben Sampson3rd April 20202 Mins Read
Share LinkedIn Twitter Facebook Email

Business aviation group Signature Aviation has taken financial steps to secure the company during the coronavirus crisis over the coming year, including a suspension on bonus payments throughout the company.

Signature runs the world’s largest FBO network with almost 400 sites, including the Epic-branded locations it acquired in 2018. The group also includes sister company, Engine Repair and Overhaul (ERO). Both businesses are classed as essential critical infrastructure providers and remain open throughout the crisis.

In a statement released this week, Signature’s Board suspended the final 2019 share dividend it had proposed earlier in March and its guidance on expected results for the coming year.

Mark Johnstone, Signature Aviation’s CEO said, “The health and safety of our employees and customers remains our utmost priority during these unprecedented times. Our Signature business is a provider of critical infrastructure and as such we remain both open and trading.

“We are taking the necessary and appropriate action to manage our costs to a level consistent with flying activity. The business continues to have attractive fundamentals and robust medium-term prospects, underpinned by our market leading FBO network and its strong cash generative characteristics.”

According to Signature, the last week of March saw a decline in flight activity across its network of on average 65% per day, as customers observed temporary stay at home orders and enforce social distancing.

Signature had originally projected a flat market for the coming year in the US business and general aviation market (US B&GA), which it said is now “unlikely to materialize”. The US B&GA market is approximately 90% domestic movements.

The company said in its statement: “We have already started to take action on our cost base, around 75% of which is variable. Our largest cost, fuel, naturally flexes with the volumes in the market and we hold less than a week’s inventory across the network.

“We have well established practices to manage our second largest cost, labour, and management is taking the appropriate steps to best match our labour costs to flying activity.

“As a further prudent measure, management has taken the decision to suspend all bonus and variable pay plans throughout the Group. We will continue to evaluate and take advantage of appropriate government financial support and assistance that is available in both the US and Europe.”

Share. Twitter LinkedIn Facebook Email
Previous ArticleCoronavirus: London Biggin Hill Airport launches benefits package for charter operators
Next Article Coronavirus: US business aviation sector calls for temporary rule relaxation
Ben Sampson

Ben has worked all of his career as a journalist and now editor, covering almost all aspects of technology, engineering and industry. In the last 20 years he has written on subjects from nuclear submarines and autonomous cars to future design and manufacturing technologies and commercial aviation. Latterly editor of a leading engineering magazine, he brings an eye for a great story and lots of experience to the team.

Related Posts

North Dakota FBO, Overland Aviation (KXWA), together with Avfuel Corporation, has accepted a delivery of sustainable aviation fuel, expanding accessibility of the fuel in a new region within the United States
Fuel

Overland Aviation & Avfuel introduce SAF to Midwest

19th May 20252 Mins Read
Opul Jets has acquired Quinta Jets, a  jet charter company based in Quinta do Lago, Portugal
News

Opul Jets expands European presence with acquisition of Quinta Jets

19th May 20252 Mins Read
Euro Jet  has expanded its team of dedicated aviation professionals in all countries and major cities in the Baltic region
News

Euro Jet expands its Baltic operation

14th May 20252 Mins Read
Latest Posts
North Dakota FBO, Overland Aviation (KXWA), together with Avfuel Corporation, has accepted a delivery of sustainable aviation fuel, expanding accessibility of the fuel in a new region within the United States

Overland Aviation & Avfuel introduce SAF to Midwest

19th May 2025
Opul Jets has acquired Quinta Jets, a  jet charter company based in Quinta do Lago, Portugal

Opul Jets expands European presence with acquisition of Quinta Jets

19th May 2025
Euro Jet  has expanded its team of dedicated aviation professionals in all countries and major cities in the Baltic region

Euro Jet expands its Baltic operation

14th May 2025
Partner Content
Johanna Echeto, general manager, LZU

Q&A: Johanna Echeto, general manager, Sheltair, Gwinnett County Airport

29th April 2025
Supplier Spotlights
Our Social Channels
  • YouTube
  • LinkedIn
Getting in Touch
  • Subscribe to Magazine
  • Meet the Writers
  • Contact Us
  • Media Pack
Related Topics
  • Aircraft Interiors
  • Air Traffic Technology
  • Aerospace Testing
  • Business Jet Interiors
FREE WEEKLY NEWS EMAIL!

Get the 'best of the week' from this website direct to your inbox every Tuesday


© 2023 Mark Allen Group Ltd | All Rights Reserved
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.