Hangar8 Aviation opens new paint shop
Hangar8 Aviation has opened a new repaint facility for private jet at its headquarters in London Oxford Airport. The launch follows analysis, which reveals that 16.5 per cent of the UK’s 381 private jets are currently up for sale.
The UK has the largest number of owned private jets for sale of any European country, making it a buyer’s market. However, Hangar8 advises owners looking to sell their aircraft that having it re-sprayed could increase the chances of finding a buyer while also increasing its sale price.
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Dustin Dryden, CEO of Hangar8, said: “There are a number of private jets up for sale at the moment so it is a buyers’ market. Owners need to find ways of making their aircraft more attractive. The cost of a re-spray can be around 1 per cent of the value of an aircraft, but it could increase its value by up to 10 per cent.”
Janus Kamradt, sales and marketing director of Hangar8, said: “Whilst some aircraft are booked in with us for a repaint as part of their overall refurbishment, so far the majority of repaints concluded at our new facility have been for aircraft that will soon be marketed for sale.”
Hangar8’s analysis reveals that of the major European countries, Italy has the highest percentage of its private jet fleet up for sale (16.7 per cent), followed by the UK (16.5 per cent) and then Switzerland (15.3 per cent).
|Percentage of private jet fleet up for sale
|Number of private jets up for sale