CJI London on camera: ‘Market frenzy is subsiding’
The frenzy that was present in the market since the pandemic is subsiding, according to Zipporah Marmor, vice president of Aircraft Transactions at ACASS and board chair at the International Aircraft Dealers Association (IADA).
She told Corporate Jet Investor (CJI) at CJI London 2023: “We will see a rationalisation of behaviour [this year]. The frenzy of the previous years has subsided for the most part. But we’re still in a really strong position with a great value proposition for our industry.”
Last year was the strongest year for private jet sales in the history of the association, with 1,399 deals closed and a resale volume of $9.3bn in sales for 2022. In its fourth quarter (Q4) report, IADA found that more deals fell through in Q4 than any other quarter in the year.
Marmor told CJI this was because buyers are being more cautious. “Everybody is watching the news and starting to think about the big R [recession] word and is it coming and how fast and how hard,” she said. “Those who didn’t have the real urgency to acquire were finding reasons perhaps to postpone a little bit.”
IADA’s executive director Wayne Starling also spoke to CJI at the London conference about a slowdown in the market, which you can watch here.