66% of private jet dealers are “very optimistic” about the pre-owned private jet market
Despite many new hurdles to complete sales of pre-owned private jets, the International Aircraft Dealers Association confirmed the message of optimism being recently heard from charter brokers and fractional fleet operators.
IADA members, two-thirds who are “very optimistic,” backed up their green shoots dreams with news that from March 27 through April 30 volume was about 50% of normal. There were 53 transactions.
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.
Despite the seemingly rosy forecast, figures underline how the industry has now struggled through a decade of tepid recovery
Private jet broker Jetcraft has released new research predicting 11,765 pre-owned transactions over the next five years, equating to $61 billion in value, and 3,444 new deliveries, representing $90.5 billion. By 2023, the total market for used and new deliveries will exceed $30 billion annually. Pre-owned business aircraft transactions are expected to outpace those of new deliveries four to one.