A Wing and a Prayer

Few companies were buffeted harder by the last recession than makers of that premier symbol of executive prestige and power, the corporate jet. Last week the still struggling manufacturers gathered in Atlanta to display their latest efforts to potential buyers.

On view among the 415 exhibits at the National Business Aircraft Association Convention, the industry's biggest trade show, were aircraft ranging from a luxurious $3.6 million helicopter to superlight planes made of titanium and graphite-epoxy composites. Multinational companies were attracted to the Falcon 900 (price: $13.5 million), a 27-seat craft introduced last month and capable of flying from New York to Tokyo with just one stop. High-rolling investment bankers liked the Gulfstream IV 19-passenger twin jet (also $13.5 million), with video screens at every seat and a computerized flight deck that an airline captain might envy.

For all the razzle-dazzle, the mood of the meeting was little more than mildly optimistic. From a peak of $2.9 billion in 1981, sales of business aircraft tumbled to $1.5 billion last year. Manufacturers expect them to edge up to $1.7 billion or more in 1984.

While that remains low by past high-flying standards, it suggests that the industry is pulling out of its nosedive.