Pre-owned bizav market growing, says JetBrokers Europe
The pre-owned bizav market is growing according to JetBrokers Europe
JetBrokers Europe, the European arm of JetBrokers Inc, is experiencing an increased demand for midsize pre-owned business jets.
The company has experienced a steady growth of interest since the end of February reinforcing current reports that optimism is returning to the industry and recovery is beginning to emerge. Currently, JetBrokers is receiving multiple new enquiries every week from potential buyers and vendors with demand largely focused on the mid-size jet market.
JetBrokers Europe managing director, Tim Barber said: “The global pre-owned business jet inventory has fallen somewhat in the past 12 months and as economic recovery strengthens, we expect to see even greater activity in the pre-owned market. Buyers are definitely starting to return, are more optimistic and more ready to commit. Those looking to acquire high quality pre-owned business jets at attractive prices will find some great deals around.”
The company has a diverse range of inventory on its books. For example, in its portfolio it has a Farnborough-based 1999 Bombardier Challenger 604, a 2008 Citation Sovereign and a highly specified Challenger 850. In addition, new listings of a Citation X and a Gulfstream IVSP are expected shortly. JetBrokers Europe and JetBrokers Inc share their inventory, which currently stands at around 30 aircraft, affording marketing and sales potential on both sides of the pond.
Tim Barber added, “We are delighted to be able to bring Challenger 604 MSN5415 to the market as it represents our first listing of a Farnborough Airport-based aircraft since we moved there in September 2010. The midsize jet market appears to be moving again so we’re not surprised at the high level of interest being generated.”
Alan Cunningham, partner and aviation finance lawyer at DWF who regularly works with JetBrokers Europe comments: “We are definitely experiencing more activity of late. In the past six months most of the activity has been concentrated at the top end of the market but since the beginning of the year, the mid and lower end has really picked up. The increased interest in the mid-size jet market at JetBrokers Europe would appear to bear this out. We believe the growing demand is being led primarily by an increase in business confidence as well as greater accessibility to financing.”
Aviation financier, Jim Crowley, MD of Guggenheim Partners Corporate Aircraft Group, adds: “We are seeing much more activity and interest from serious prospects looking for potential financing on pre-owned jet purchases. JetBrokers Europe’s listings reflect the trends we’re seeing with an increased number of phone calls from within the European market and also from new emerging regions such as the Middle East and Asia. I think a few buyers have learnt that it’s again a good time to buy.”