From: "Sean J Lancaster"

From: "Sean J Lancaster" To: "Sean J Lancaster" Subject: FW: UBS Bizjet Survey: Weakening Confirmed Date: Mon, 23 Aug 2010 12:57:11 +0000 Attachments: Bizjet_Survey_MN082310.pdf; disclaim.txt THIS MONTHS REPORT Index drops to 37: Our most recent Business Jet Market Index fell a further 8% to 37, the second consecutive time our index has declined and come in below 50, indicating that business jet market conditions are deteriorating. This follows a stable first half in which our Index held at 50 for three consecutive surveys and is only third time in 7+ year survey history, excluding late 2007-late 2008, that it has registered back-to-back declines. Our straight up measure of absolute business conditions came in at 3.7, virtually in line with July, although 8% lower from the recent peak in May. Declines in all five component scores; large cabin drops most: All five index components declined in our most recent survey relative to July. Our customer interest score dropped by 10% (to below 50), which was the most significant driver of the overall decline in our Index, followed by our pricing score, which fell 9%. By cabin class, our large-cabin index dropped the most this time by 15% to 39 (from 46) as compared to small and midsize, which came in at 33 (from 35) and 40 (from 42), respectively. Best regards, Sean J. Lancaster Bristol Associates Inc. www.bristolassociates.com This message may contain confidential and/or legally privileged information. If you are not the intended recipient of the message, please destroy it. Any unauthorized dissemination, distribution or copying of the material in this message. and any attachments to the message, is strictly forbidden. (c) 2010 alt rights reserved. EFTA00757923