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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.
During a VBACE press conference last week, the International Aircraft Dealers Association (IADA) revealed a couple of bright spots coming out of the COVID-19 pandemic.
Pre-owned private jet sales will dip to 1,617 units this year as the industry struggles with the challenges of the impact of COVID-19 on the selling process. Last year, there were 1,839 transactions of pre-owned aircraft, according to an annual market survey by Jetcraft.
Young Ultra-High Net Worth buyers like it big when it comes to their private jets. That’s according to a just-published market outlook for pre-owned aircraft sales by broker Jetcraft. It found 81% of buyers under 50 take large-cabin private jets compared to just 50% of older customers.
The rebound or private jet travel is now being mirrored by a rebound in used aircraft sales. According to the International Aircraft Dealers Association (IADA), its members closed 103 deals in July. That compares to 74 transactions in June, 47 in May, and 53 in April.
With a powerful digital presence and brand recognition only matched by market leader NetJets, Wheels Up is once again showing it intends to be a driving force in private aviation.
This morning’s announcement of Wheels Up Aircraft Sales puts the company into aircraft brokerage, acquisition, trade, and advisory services.
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.
