The year end is always a time for taking stock and looking forward, but next year the outlook for Europe's business, economics and even its currencies seems less certain than in previous years.

Public spending across the continent will be limited, or even reduced, and growth slow.

But there are positives too; interest rates look set to remain low and the Middle East region is far less affected by credit and public finance issues.

In this very edition of EBAN we report on a forecast that shows a recovery in aircraft deliveries in the medium term based on the fact that, despite the dire headlines, company profits are healthy.

Business aviation is inevitably affected by factors such as business confidence and credit availability, but it can take steps to make the most of the opportunities that remain.Some are already finding ways around credit-related issues: We see how ABS Jets is raising capital for growth in an innovative way by issuing its own bonds, and how Execujet is providing finance for aircraft buyers.

Many are taking advantage of the ability to trade worldwide: DC Aviation is expanding its charter business with a partner in the Middle East while Gama Aviation is spreading its reach with a new base in Jeddah.

Vistajet is expanding because of its concentration on developing economies, Perfect Aviation is moving its ops department to Portugal to benefit from better local currency exchange rates, and even cautious Aero-Dienst is opening a base outside its normal sphere of operations.

And others are simply diversifying or targeting profitable niches, such as Piaggio adapting its Avanti II to fulfill a very specialist role, and FAI expanding its range of services.

Taken to the extreme, Aero Jet Darta is even booking its clients onto trips into space. This is the type of innovative thinking which makes me happy to wish all our readers a very prosperous new year! David Wright Editor