Mon, Apr 05, 2010
Increase In Helo Commuting May Signal Wall Street Revival
A sign that there may actually be an economic recovery on the
horizon may be manifesting its self in the concrete, glass, and
steel canyons of New York City. Liberty Helicopters says people
living in New Jersey can now commute to Manhattan aboard one of
their helicopters for around $200 per day, saving those drivers
about 14 hours a week in New York traffic, and they're getting a
lot of interest in the service. It is one of several helicopter
companies again offering commuter service.
Bloomberg News reports that the flight will travel about 20
miles from Port Monmouth, NJ to helipads on West 30th street and
Pier 6 near Wall Street. Liberty said it has already been
approached by about 150 potential clients inquiring about the
service. Transportation consultant Robert Grotell said the interest
may be a sign that Wall Street is bouncing back.
Grotell said that corporate clients are responsible for about a
third of the helicopter traffic in New York City, and that air
transportation is one of the first things to be cut from corporate
budgets when the economy starts to go sour.
The trend could also be good news for helicopter pilots in the
New York area. Bloomberg says that unemployment in that category
surged to about 35 percent last year with the economy in
freefall.
Helicopter Association International president Mat Zuccaro said
that, if executives have money to spend on the flights, they make
sense for the business community, "Time is money ... and
helicopters are time machines." He said the helicopter industry now
contributes about $150 million a year to the New York economy,
which is down about $30 million from its pre-recession peak.
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