Following a plunge in preowned aircraft sales last March, members of the International Aircraft Dealers Association (IADA) saw a rising wave of used private jet transactions, highlighted by a fourth-quarter surge of 554 closed deals.
IADA began tracking sales metrics in April monthly due to the volatile used aircraft sales transactions caused by the impact on the economy from the COVID-19 contagion. The group represents seven percent of dealers who it says account for 40 percent of preowned aircraft sales.
“In total, IADA dealers accounted for 1,011 transactions in the April-December time period, not counting preowned aircraft sales handled by our OEM members,” said IADA Executive Director Wayne Starling. “Our dealers registered 285 sales in December alone, by far the most active month of the year and double any other COVID-19 impacted month.”
What’s more, only 36 of the 554 transactions (6.5%) closed in the fourth quarter involved lowered prices. Marking a return to stabilized prices, that contrasts with 45 deals (26%) that involved aircraft with lowered prices on sales of 174 aircraft in the second quarter.
Looking towards 2021, IADA dealers ended the year by putting another 74 aircraft “under contract” in December.
“While it is way too early to say the industry has rebounded completely, as the pandemic is still raging, the activity in the preowned aircraft marketplace is certainly trending upwards across all of our dealers,” Starling said.