The world has not felt this scary since the 1980s, when the Cold War suddenly became frigid. A new war against Iran, fermented over decades of distrust and now encouraged to spill over into armed conflict, has inevitably brought disruption to the Middle East and as far away as Cyprus. Global transport hubs, including airports, have taken missile and drone hits, threatening civilians and the region’s key business and VIP aviation infrastructure.

We have also seen a bizarre presidential proclamation aimed at Canada’s civilian aircraft regulator thrust business aviation unexpectedly into the international spotlight. It seemed to take most industry insiders by surprise, sending them scurrying to discover if it had any legal foundation at all. Meanwhile, as we lurch from one geopolitical crisis to another, let us not forget Venezuela, Mexico and the still-raging, bloody war between Russia and Ukraine.

The market has largely adapted to the repercussions of the latter conflict, while the very end of February and first days of March have seen business jets positioning away from airports under threat in the Gulf, as airspace closures allow. The impact in the longer term remains uncertain, but elsewhere the business of business aviation continues with its usual resilience.