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Wednesday, October 1, 2008

Spotting News You Can't Use

John Persinos

Pass me the aspirin — I just got my 10th unsolicited press release of the day and it’s not even noon yet. I tend to get inundated with releases all year long, but the sudden surge in their generation is directly linked to the approach of the NBAA Convention in October.

I should let you PR apparatchiks in on a harsh fact of journalistic life: a recent survey of editors found that less than 25 percent of the news releases that they receive get used.

Is this because the nation’s news gatherers possess too many great ideas to find space for yours? Of course not. There’s no media-wide conspiracy to ignore you. But editors — the good ones, anyway — can instantly sniff out corporate hyperbole when they see it.

One word that crops up over and over again in these releases is the word "unique." Rarely is a word used so imprecisely. For example: "Check out our unique documentation workflow software solution for MROs," etc. The only term worse than unique is "somewhat unique."

Look, folks, being "unique" is like being pregnant — you either are, or you aren’t. Some of the products hyped in these releases as stunning breakthroughs are in reality very similar to competing alternatives. That’s news you can’t use.

Regardless, few issues surfacing at NBAA are more important than the mechanics that actually keep aircraft flying. For the best and latest information in the MRO sector, consider tapping into Aviation Today’s webinars. Our MRO webinars rely on longtime experts in aviation maintenance who provide fresh insights and actionable advice.

These webinars are interactive events — i.e., registrants are free to e-mail questions to me, the moderator, and I present these questions to the speakers for discussion in real time. Our webinars provide interpretive analysis, not regurgitated press releases.

To find archived webinars relevant to the MRO field, consult our webinar calendar: http://www.aviationtoday.com/webinars2008.html

Anyone involved in the maintenance, repair, overhaul, manufacture, purchase, lease, operation, or safety of aircraft would be interested in our timely and informative MRO webinars. During 2007 and 2008, we conducted scores of webinars related to maintenance. One theme that continually emerges during these online events is how the demand for air transport aircraft closely hews to GDP growth and the demand for business and leisure travel.

This point emerged during a webinar we conducted on August 21, entitled: "The Fuel Crisis in Aviation: New Ways to Cope." The event is archived and available on Aviation Today. One of the speakers was Paul Leighton, editor-in-chief of our sister publication, Aircraft Value News, and founder and managing director of the Aircraft Value Analysis Company, a U.K.-based firm that specializes in future value forecasting.

Separately from the webinar, I recently spoke with Paul Leighton about the affect of high oil prices and the global economic recession on the MRO sector.

"Whether the rise in oil prices is a spike, or a long term phenomenon caused by limited investment in production capability, the effect...is already apparent," he told me. "Oil prices may have dipped [recently] but the strengthening of the dollar will negate much of the gain that could be enjoyed by operators around the world."

He noted that things would get worse before they got better. "The problem for the airline industry remains the falling economic activity and the loss of consumer confidence," he said. "The decline in traffic, particularly high yielding passengers, continues to see operators scrambling to match capacity with demand."

He said that global economic woes are not likely to improve in the short term, even if the oil price bubble bursts and fuel prices reach equilibrium. "While the extensive backlog and demand for fuel efficient equipment may be viewed as positives, the predicament of the industry is such that planned and unplanned fleet contraction will likely be stronger factors," he asserted.

Considering these economic conditions, he said, it’s no surprise that operators are choosing to simply park aircraft rather than fly and maintain them at a loss.

To get more of Paul’s analysis, consult his biweekly newsletter, Aircraft Value News, available on Aviation Today.