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.

FMI: www.rotor.com