JetBrokers Europe upbeat about future
Farnborough based company reports renewed optimism as pre-owned aircraft sales picks up
JetBrokers Europe remains optimistic about the
pre-owned business jet market despite the continued global economic
downturn. The company reported its best month on record in July in terms
of pre-owned aircraft sales activity and strong months in August and September
for new listings of pre-owned aircraft. The company started out two years
ago as the European arm of long established JetBrokers Inc. Since then,
JetBrokers Europe has firmly established itself in the pre-owned broker
marketplace and is increasingly active in the mid-size jet market. Year to
date, it has completed transactions with clients beyond Europe and the US with
sales to Australasia and the Far East including a Cessna Citation Sovereign,
Cessna Citation II, Cessna Citation X and Cessna Citation II/SP.
“Buyers are ever more demanding and taking an
aggressive line much as they have over the past couple of years, but over the
last six months we have experienced a sustained steady increase in activity
with sales enquiries and new listings. Pre-owned aircraft continue to remain a
sensible proposition for savvy buyers looking for a deal,” commented Tim
Barber, managing director of JetBrokers Europe.
Significantly, there has been gradual improvement and
increased market interest in Europe,
especially in mid-size sector where the company has been growing its inventory
over the past 12 months.
Brendan Lodge, business development director
commented, “We will be adding more midsize aircraft to our listings in the
coming weeks, enabling us to offer buyers a greater selection of high quality,
pre-owned super-midsize jets.”
Though far from perfect, the pre-owned market
continues to show improvement globally. Tim Barber concludes: “We have
become somewhat acclimatised to the depressed conditions but we
continue to be busy generating interest in aviation transactions even whilst
the market is still tough. JetBrokers Europe started trading in 2009 and
despite the difficult economic climate since, we have continued to grow as a
company. The market has been slowly improving in 2011 providing positive signs
for business aircraft owners. Importantly, financing is looking a little
easier to acquire and some banks are re-adjusting loan to value covenants
resulting in aircraft coming to market, although deals are generally taking a
little longer to complete than usual.”
