Rise of private-jet ride sharing crimps new aircraft orders

Thanks to new technology, flying in a private jet is no longer just for business titans and the super-wealthy. But in a paradox, that means aircraft manufacturers like Cessna and Bombardier are selling fewer planes. The general aviation industry is undergoing a major shakeup as new business models attempt to match idle aircraft with passengers, many of whom now can’t afford their own plane. Membership companies, ride-sharing programs, on-demand charter providers and start-ups claiming to be the Uber of private aviation are all looking to introduce more people to the convenience of flying without the hassle of commercial airports. “Unfortunately for airplane manufacturers, these new programs aren’t out buying a lot of new jets,” said Brian Foley, a business-aircraft consultant. “They’re just trying to use existing assets out there and get more utilization out of those parked airplanes.” Manufacturers have throttled back production of some models to adjust to weaker demand for private aircraft. New jet deliveries are expected to drop 6.4% this year to 645 and slip another 3.7% to 625 next year, according to JPMorgan Chase & Co.<br/>