Hangar8 Aviation expects private aviation to grow in mining industry

7 August 2014 (Last Updated August 7th, 2014 18:30)

UK-based Hangar8 Aviation expects private aviation in the mining and gas industries to rise as companies are looking to charter services to meet their complex travel needs.

UK-based Hangar8 Aviation expects private aviation in the mining and gas industries to rise as companies are looking to charter services to meet their complex travel needs.

The growth will be driven by the demand for companies to transport officials to difficult-to-access, remote mining and drilling sites, which usually have mininmal infrastructure and lack proper transportation.

According to Hangar8 analysis, 81% of runways in Africa are short or unpaved. Business aircraft, which only require short runways to land, can be ideal for reaching places with poor connectivity.

"Growth will be driven by the demand for companies to transport officials to difficult-to-access, remote mining and drilling sites."

The company reported that its charter business has seen a 25% rise in enquiries from the mining sector in the last three months, as compared with the same period last year.

Hangar8 CEO Dustin Dryden said: "2013 was a difficult year for the mining sector, with its top 40 companies by market cap seeing net profits plunge 72% to a decade low of $20bn. Mining stocks also dropped 23% to $280bn.

"However, many commentators believe that the worst is over and there will be disciplined growth and investment during 2014. In line with this, we have certainly seen an increase in enquiries from oil and gas and mining companies looking to lease and charter our aircraft."

With more than 50 aircraft and bases in Europe, West Africa and Asia, Hangar8 offers aircraft management, charter, sales, leasing and engineering services.