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Business aircraft sales, acquisitions, trading and brokerage services provider, Jetcraft Corporation – headquartered in Raleigh, NC – have commented this week on the state of the international business jet market.
“Fundamentally, Jetcraft’s market outlook remains unchanged – despite recent financial uncertainties in Europe and the US,” says Chad Anderson, President, Jetcraft Corporation. “Specifically, we are seeing two trends that we believe are representative of the international business jet market at this time.
First, prices at the top of the market – new long range to large business jets – have stabilized significantly. This good news for sellers has largely been driven by strong demand from emerging markets in Asia, Eastern Europe, the Middle East and South America. In parallel, we continue to see demand recovery in North America, from both public companies and high-net-worth individuals. Second, there remains a healthy supply of ‘legacy’ business jets models on the market – approximately 15% of the total of these fleets worldwide are currently for sale – which creates attractive opportunities for buyers. It is worth noting that ‘legacy’ aircraft such as the Bombardier Challenger 604, the Gulfstream GIV or the Dassault Falcon 900B may offer exceptional value,” adds Mr. Anderson.
“We believe that confidence in the business jet market is holding because the volume of transactions has remained quite stable,” continues Jahid Fazal-Karim, Co-Owner and Board Member, Jetcraft Corporation. “Business jet purchasers are generally acquiring aircraft based on anticipated lift requirements six to 18 months from today. This trend illustrates continued confidence as globalization of business continues, the need for long range business jets – particularly in emerging markets – is here to stay. Furthermore, access to credit and financing has not been noticeably impacted by recent macroeconomic events. Jetcraft is guardedly optimistic and we continue to monitor risk. On balance, we expect our sales results to remain very favorable through year end,” concludes Mr. Fazal-Karim.