I rather suspect not.
How much does all this cost and where is the cost benefit analysis?
Having observed Aviation for quite a long time I have a very uneasy feeling that the reality here is that this is a feel good exercise for box tickers which will as is becoming usual lead to much of the effort and a large slab of the cost being handed on to the aviation community so bureaucrats can be seen to be doing good stuff.
Aviation is, perhaps inevitably, highly regulated but recently I have noticed increasing mountains of paper all in the name of compliance and safety with entities such as the SMS (Safety Management system) becoming required and yet in practice becoming more like a distracting burden. There is only so much time people can give to such things before they actually subtract from the time and attention available to Aviate safely.
Maybe there should be a requirement for a regulation to be removed before another can be applied?
I would be very intersted in the views of others on this.

Organizers expect around 300,000 visitors this year, half of them professionals, about the same as the last show in 2007 — despite notable no-shows such as business jet makers Gulfstream and Cessna.

“This year again, despite the crisis we consider that it is a considerable success because we’re full,” said Louis Le Portz, the air show’s chief executive. Roughly the same number of exhibitors will be present as in 2007, around 2,000, Le Portz said.

The show is taking place against the backdrop of an industry in deep difficulty, according to data released Monday by the International Air Transport Association. The Geneva-based body representing 230 airlines worldwide warned that the world’s airlines will collectively lose $9 billion this year — nearly double the previous loss projections.

Weak consumer confidence, high business inventories and rising oil prices leave the industry facing a slow recovery as the economic crisis saps air travel and cargo demand, the association said during a two-day global aviation conference in Kuala Lumpur.

The show is also taking place under the cloud of last week’s crash of an Air France Airbus jet flying from Rio de Janeiro to Paris, killing all 228 people aboard.

Charles Edelstenne, the chairman of French aeronautic industry body GIFAS, expressed the industry’s “profound emotion and solidarity for all those touched by the catastrophe.”

“Of course we had a few no-shows in the parts of the industry especially hard-hit by the crisis, like business
jets,” Le Portz added. “But we sold out all the available stands and chalets.”

Gulfstream said it had decided not to exhibit at this year’s Paris Air Show because it had been present at the European Business Aviation Conference in Geneva last month.

Other big aviation names who are coming have cut back on the size or number of their stands and chalets, Le Portz said, without citing specific examples. “It’s to save money, it’s normal,” he said.

But these cutbacks have been offset by a record number of participating small- and medium-sized companies, Le Portz said — around 1,500.

Around 25 civilian and several military jets will make demonstration flights during the air show, including the
first appearance outside Russia of Sukhoi’s new Superjet 100, seen as key to Russia’s attempts to revitalize its civilian aircraft industry.

Notable for their absence will be the Airbus A400M transport and Boeing’s 787 jetliner. Boeing’s new long-range widebody is going through more tests as it prepares for its first flight by the end of next month.

Airbus parent company EADS has indefinitely postponed the first flight of the A400M transport and is now negotiating new technical requirements and commercial terms with the seven European NATO countries that first ordered the plane.

To celebrate the 100th anniversary of the Paris Air Show, which alternates every other year with the Farnborough International Airshow outside London, 30 historic aircraft from various epochs of aviation history will also be on display, organizers said. The historic aircraft include a Bleriot XI, a plane shown at the first Paris Air Show in 1909, held in the Grand Palais on the Champs-Elysees.

The show opens to industry and the press June 15, and is open to the public June 19-21.

Amid the deepest and broadest economic crisis since World War II, the near-term outlook for business aviation is taking a beating. Added to the inevitable cost-cutting by corporate customers is the populist fury over perceived misuse of corporate aircraft by “fat cat” Wall Street bankers and self-serving business executives.

Aviation industry analysts and operators say that the business need for corporate jets is as clear as ever and that the market will recover in due course. But, they add, the bottom has not yet been reached and it will likely take years to get back even to current levels, let alone earlier peaks.

Perhaps the clearest victims of the slump have been the start-up makers of “very light jets,” or V.L.J.’s, once seen as a market niche of quasi-revolutionary potential, and now dismissed as “irrelevant” by Richard Aboulafia, the vice president of Teal Group, an aviation industry consulting firm in Fairfax, Virginia.

In November 2008, Eclipse Aviation, founded in 1998 and developer of the Eclipse 500 V.L.J., went into Chapter 11 bankruptcy protection, before being liquidated in February. Adam Aircraft, another V.L.J. start-up founded the same year, ceased operations and laid off all employees last month.

The disappearance of the Eclipse 500 prompted a decision, also last month, by Robert L. Crandall, formerly the chief executive of American Airlines, to shut down Pogo Jet, an air taxi project, of which he was chairman, and to return remaining corporate funds to investors.

Teal Group’s most recent annual 10-year forecast on global business aircraft, published last month, illustrates the depth and swiftness of the downturn. The forecast predicts deliveries of 12,678 business aircraft, valued at $195.7 billion, in the decade through 2018. A year ago, Teal predicted deliveries of 18,401 aircraft, valued at $270.6 billion, in the decade to 2017.

Excluding turboprop planes, Teal sees 9,875 business and private jet deliveries in the 10-year period, down from 14,289 a year earlier.

Projections by Embraer, the Brazilian builder of regional and private jets, agree broadly with those from Teal. Speaking from São José dos Campos, near São Paulo, Claudio Camelier, vice president for market intelligence for corporate aircraft, said Embraer was forecasting industrywide deliveries of 10,990 business jets — including corporate versions of regional jets and jetliners — in the next 10 years. He said the company expected deliveries this year to fall to 956 from 1,150 last year.

Mr. Camelier said the downturn hit hardest from November to February. Cancellations and delays cut Embraer’s deliveries to 40 planes in the first quarter from 59 in the last quarter of 2008; the order backlog, meanwhile, shrank to $19.7 billion by the end of March from $20.9 billion three months earlier.

According to Mr. Aboulafia, the Teal vice president, annual business-jet sales will probably hit bottom in 2011 at fewer than 700 deliveries, will not rise above this year’s level until 2015, and will not match their 2008 peak until 2017.

Perhaps surprisingly, the Teal projections suggest that the crisis is hitting the smaller, less expensive end of the market the hardest. A breakout by size shows that 50 percent of deliveries in the next 10 years, measured by market value, will be planes in the top two tiers of the market.

In contrast, only 2,263 V.L.J.’s are expected to be delivered, including 1,105 Cessna Mustangs, 900 Embraer Phenom 100s, and 258 Hondajets.

While the numbers are sobering, a historical comparison offers some comfort. In the decade to the end of last year, 10,568 business aircraft were delivered, costing $159.2 billion, including 7,696 business jets worth $134.5 billion, 2,491 turboprops priced at $10.7 billion, and 381 corporate jetliners valued at $14 billion.

Even in 2011, the predicted low point of the cycle, global deliveries at close to $12 billion will be worth twice those of any year prior to 1997, Mr. Aboulafia said.

In the current crisis, “businesses that survive will be those that operate efficiently,” and business aircraft can add vitally to efficiency, said Andrew Hoy, a director of ExecuJet, based in Zurich, which manages 150 business aircraft worldwide and represents the Canadian plane maker Bombardier in 33 countries.

ExecuJet sells, manages, operates and provides crews for its clients and holds an Aircraft Operating Certificate. From January to April this year it sold 13 aircraft to purchasers who “needed to buy rather than simply wanted to buy,” Mr. Hoy said, with European monthly sale numbers picking up about 30 percent after February.

Still, prices have fallen sharply, especially for high-end jets. Last year, a Russian paid $63 million for quick delivery of a Bombardier Global Express XRS, capable of flying nonstop close to the speed of sound from Tokyo to New York: now, the same plane could be bought for $45 million, Mr. Hoy said. A smaller jet, which might have sold for $17 million a year ago, could probably be negotiated down to $10 million now.

“Differential price expectations between buyers and sellers” are a feature of the current market, Mr. Hoy said, as is tighter financing. “Now we can get 60 percent, while a year ago 100 percent financing might be arranged.”

One operator hoping to benefit from a buyers’ market, and betting on V.L.J. on-demand service, is Jetbird, founded by the Irish financier Domhnal Slattery. Jetbird, with 59 Phenom 100s on firm order, plans to start up in September, flying Europe-wide from Cologne-Bonn Airport.

For original report see:http://www.nytimes.com/2009/05/12/business/global/12rbavover.html