AINonline reported the global business aviation industry is anticipating a modest increase in flight utilization, according to statistics released last week by JetNet.

According to the report, JetNet foresees nearly 5% growth in flight hours worldwide over the next 12 months and a 7% increase in the following 12 months, based on the results of its most recent quarterly survey of business aviation operator.

The AINonline report states half of the survey respondents believe that the industry is currently at the low point in the business cycle, while about 24% say business aviation has yet to reach bottom. The remaining 26% believe the industry is on an upswing.