UBS Investment Research’s recently issued business jet update indicates that flight activity, measured by takeoffs and landings, was 10 percent lower in November on a rolling 12-month basis and down 11 percent year-to-date. According to UBS analyst David Strauss, the decline has been led by reduced charter activity, which dipped 15 percent in November, while all other business jet activity fell 9 percent. Domestic business jet flight activity dropped 11 percent in November and international flight activity declined 4 percent, UBS said. Light jets logged the largest year-to-date decline in flight activity (14 percent lower), though midsize and large-cabin jet traffic also fell by 8 percent and 9 percent, respectively. However, there were notable exceptions to these averages in the UBS data showing activity by aircraft type–Gulfstream III/G300/G350 flight activity plummeted by 24.2 percent year-to-date; Citation CJ2 activity increased by 2.5 percent over the period; and Challenger 300 and Gulfstream G100/G150 flights increased by 14 percent and 13.1 percent, respectively. Meanwhile, UBS reiterated its warning that fewer sources of aircraft financing, a large increase in pre-owned aircraft on the market and a decline in flight activity “presage what we think will be a significant slowing in new aircraft demand.”