Aircraft trader Jetcraft sees the market for second-hand jets regaining some its former vigour as the Raleigh, North Carolina firm forecasts business up to 30% up on last year.
“We are well ahead of the place we were last year,” says Chad Anderson, president of Jetcraft. “As far as we and our relevant peers are concerned the market is rather good overall.”
However, he acknowledges it remains a buyer’s market. “In particular segments [buyers] have better control over pricing than sellers – unless you are a G650 owner, that is.”
Jetcraft has so far closed 54 deals this year, against 60 for the whole of 2013. Anderson predicts it will hit the 80 mark by end-December, and then push past 100 over the next 12 months.
Part of the company’s growth has been through the acquisition of ExecuJet Aircraft Trading which closed in the third quarter of 2013. In parallel Jetcraft bolstered its management team, notably adding former Textron Aviation executive Scott Plumm as head of worldwide sales.
The US and Latin America are strong territories for the firm, he says, but interest is coming from further afield too: “Sellers in other territories realise this is the place to get their assets moved.”
Many aircraft coming in from Europe, Russia and the Middle East were bought new at the top of the market in 2008 and have seen little use since, says Anderson.
“Back in 06, 07 and 08 airplanes coming off the lines were headed overseas. They are coming back now – demand is on this side of the pond.”
Two of the five aircraft for sale on Jetcraft’s NBAA static display have European owners, he adds.
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Source: Flight Daily News
