Rest of World Growth Analysis

Rest of World Growth Analysis Growth Drivers and Emerging Market Dynamics | February 2026 Turkish and Middle Eastern Growth Zafer Havacilik As leads both MoM (+39.62%) and YoY (+57.45%) growth, demonstrating Turkey's expanding business aviation market driven by corporate connectivity between Istanbul, Ankara, and regional economic centers. Genel Havacilik A.S. (+8.96% MoM, -21.51% YoY) shows monthly recovery but faces significantly tougher year-over-year comparisons from an elevated February 2025 baseline.

Saudia Private Aviation (+18.64% MoM, +27.27% YoY) confirms sustained Gulf demand expansion, benefiting from Saudi Arabia's Vision 2030 economic diversification driving corporate travel between Riyadh, Jeddah, and international destinations. The operator's dual positive growth signals structural demand rather than seasonal recovery.

Chinese Operator Recovery Lily Jet leads in absolute flight gains (+39 flights) with +20.63% MoM and +16.92% YoY, reflecting post-Lunar New Year recovery as Chinese corporate travel resumes following the holiday period. Sinojet (+6.06% MoM, -9.09% YoY) shows more modest monthly growth with negative YoY, suggesting competitive pressure in the Chinese business aviation market.

The divergence between Lily Jet's positive YoY and Sinojet's negative YoY illustrates market differentiation within China's business aviation sector, where operators serving leisure-oriented routes (Lily Jet's Sanya connections) may be outperforming corporate-focused operators in the current economic environment.

European Cross-Border Operators Jet Aviation Business Jets AG (+19.23% MoM, +38.81% YoY) demonstrates sustained growth for the Swiss-based operator serving Rest of World markets. Avcon Jet Ag (+3.39% MoM, +8.93% YoY) shows modest but steady expansion in its non-European operations, while Gainjet Aviation (+13.21% MoM, +5.26% YoY) confirms Greek-based charter demand.

Avcair from Australia (+18.18% MoM, +16.42% YoY) demonstrates steady domestic demand growth, while LifeFlight Australia (+9.43% MoM, -4.92% YoY) shows moderate monthly recovery against a slightly elevated prior-year baseline for aeromedical services.

Growth Sustainability The average MoM growth of +15.74% across Rest of World operators reflects moderate post-January recovery, lower than January's +25.51% average. Seven of 10 operators show dual positive growth, maintaining the same ratio as January and indicating fundamental demand strength across diverse geographic markets.

Regional Outlook Rest of World operators show moderate but broad-based growth heading into March 2026. Zafer Havacilik's +57.45% YoY and Jet Aviation BJ's +38.81% YoY signal structural demand expansion in Turkish and Swiss-managed markets. Monitor Chinese operator divergence between Lily Jet and Sinojet, and watch whether Genel Havacilik's -21.51% YoY narrows as prior-year comparisons ease into spring.

Market Cluster Operators Avg MoM Avg YoY Key Players Turkey 2 +24.29% +17.97% Zafer Havacilik, Genel Havacilik China 2 +13.35% +3.92% Lily Jet, Sinojet Gulf/Middle East 2 +11.02% +18.10% Saudia Private, Avcon Jet (ROW) Australia

2 +13.81% +5.75% Avcair, LifeFlight Australia European Cross-Border 2 +16.22% +22.04% Jet Aviation BJ, Gainjet Aviation