Association of private jet brokers IADA reports 54 used aircraft transactions so far in March despite the Covid-19 Coronavirus crisis
Members of the International Aircraft Dealers Association (IADA) said members completed 54 transactions between for the month as of March 20th. Additionally, there are over 120 aircraft, under contract, subject to closing.
The news comes as the Covid-19 Coronavirus pandemic is playing havoc on the world stock markets with demand for travel in general plummeting.
Used Private Jet Market “Strong” in March
“Clearly, there is a strong push to make deals in advance of the challenging uncertainties that are ahead of us all,” said IADA Executive Director Wayne Starling.
He added, “IADA-accredited dealers continue to briskly lead the previously owned aircraft industry with many transactions during what was previously forecast to be a slow sales month.”
Starling believes the market is “very likely to slow as approvals and regulatory obligations take longer to achieve.”
What’s ahead isn’t clear, according to IADA. The changing economic landscape could shift individuals and companies that sell or buy depending on their changing business and travel needs.
IADA’s search portal, AircraftExchange.com, currently lists more than 500 aircraft for sale, from heavy jets to smaller aircraft.
March Used Private Jet Transactions
Included in the 54 transactions in March were four Bombardier Challenger 300s, two Challenger 350s, two Challenger 604s; a Challenger 605; two Bombardier Global 5000s; a Learjet 60; Learjet 60XR; two Learjet 75, Cessna Citation CJ1, three Citation CJ3s; Citation Excel; two Citation M2s, Citation Mustang, Citation Ultra, Citation X+, Citation XLS+, Citation Bravo, Citation SII, a Dassault Falcon 2000EX; Falcon 2000EX EASy; two Falcon 900EXs, two Embraer Phenom 300s, a Phenom 300E, a Gulfstream G150, G280, two G450s, a G550; G650, a Hawker 1000A, 4000, 400XP, 800XP, two 900XPs, a Nextant 400XTi, and eight Pilatus PC-12s.
Of the 120 aircraft under contract for sale are 10 Challenger 300/350s, 11 private jets from the Global Express family, including a Global 7500, 16 long-range Gulfstream private jets, plus four more Phenom 300s.
Over $5.4 Billion in Pre-Owned Private Jet Sales
In the portal’s first year through February IADA handled 615 pre-owned aircraft sales valued at over $5.4 billion dollars.
IADA is a professional trade association formed more than 25 years ago, promoting the growth and public understanding of the aircraft resale industry.
It offers an accreditation program for dealer organizations and certification program for individual brokers.