September 12, 2024
Strength in the pre-owned private jet market may impact availability of planes for on-demand charter.
Confidence in the economy and business led by President Donald Trump’s approach to commerce is powering a spike in interest in pre-owned private jets, according to Daniel Jennings, President of The Private Jet Company (TPJC).
Jennings said in the first quarter of 2017 there has been “surging demand.” He continued, “Our phones are ringing off the hook. We’re very busy with calls from prospective private jet buyers, particularly in the U.S. market. If this trend continues, I believe we’ll see the market approach a balance between supply and demand for the first time in several years.”
Jennings said demand is focused on long-range private jets such as the Gulfstream G200, G450, and GIV. He said newest and best maintained private jets are generating the most interest. “With fewer aircraft available, we’re also seeing the ones with the best pedigrees, lowest flight time, best maintenance records, and newest interiors (are) being sold fast,” he said.
Sale of pre-owned jets impacts the on-demand charter market as new owners may not want to offer their planes on the charter market on the same basis. If the trend continues, it will increase the value of guaranteed availability offered by many private jet card and prepaid block charter programs.
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