Opportunities to buy business jets at bargain prices are drying up as the market recovers, according to major US-based aircraft broker Jetcraft.
"We believe that the window of opportunity for discount buyers is now closing," said Jetcraft's co-owner Jahid Fazal-Karim.
He explained: "There has been abundant speculation as to when prices of business aircraft would bottom out. After a significant drop across all categories beginning in late 2008, we have now seen an increase in prices of larger, longer-range, higher-end business aircraft."
Fazal-Karim added: "Additionally, original equipment manufacturers now have stronger order backlogs, which has reduced the pressure to discount prices on new aircraft. The recovery is driven by emerging markets, including China, India, Russia and Africa, where long-range aircraft are the models of choice."
But he warned that the market is still vulnerable. "In terms of risk, political and economic instability could jeopardise price recovery in some emerging markets. As for the midsize and light business jet market segments, prices are stable but still low," he said.
Jetcraft has two Bombardier Challenger 605s in the static park, with a Global XRS and a Cessna Citation X in operation from an FBO just further along the ramp.