Colibri Aircraft: Pre-owned sales ‘have held up well’ during pandemic
Colibri Aircraft has revealed that globally 2,227 pre-owned jets were purchased last year, worth over an estimated $14.5bn, a 10% increase on 2019. It is an indication that the market is holding up well, according the the firm’s MD,Oliver Stone.
Stone said: “The benefits of flying privately have been clearly illustrated during the coronavirus crisis. As the commercial aviation sector has been decimated, business aviation has held up relatively well, and it has welcomed many new people who have never flown privately before.
In the US, which accounts for more than 70% of the pre-owned jets purchased annually, 2020 saw a 9.5% increase in sales compared with the previous year. Sales totalled 1,637 aircraft compared with 1,495 in 2019.
Europe is the second biggest market for the purchase of pre-owned jets, where 154 were bought last year, compared to 152 in 2019 which was a drop of 21% compared with 2018. South America is the third biggest market, with 122 pre-owned jets being bought in 2020.
In terms of the type of pre-owned private jets bought last year, in the US, 738 were light jets, 566 were medium jets and 333 heavy jets. The most popular pre-owned aircraft purchased was a Citation CJ 3 of which 51 were bought.
In Europe, 64 pre-owned light jets were purchased last year, 46 medium jets and 44 heavy. The most popular models were the Citation Mustang and the Citation Jet purchased six times each.
Stone added: “The number of private aviation flights in Q4 [fourth quarter] of last year was only down 16% in the US when compared to the same period in 2019 and the corresponding figure for Europe is a fall of 21%. For commercial flights, there were 63% fewer in the US, and a fall of 82% in Europe.”
At a glance: Pre-owned jet purchases
- 2,227 pre-owned jets were purchased last year
- US sales totalled 1,637 aircraft compared with 1,495 in 2019
- US, 738 were light jets, 566 were medium jets and 333 heavy jets
- European sales were 154 last year, compared to 152 in 2019
- Europe, 64 were light jets, 46 medium jets and 44 heavy jets
- The most popular models globally were the Citation CJ 3, Citation Mustang and the Citation Jet.