One of the biggest advantages of business aviation is that it saves time. Business aircraft get you closer to where you want to be, faster than any other way. But, transactions are going the other way.
There are two reasons for this. First, as every broker will tell you it is getting harder to close deals and second – with prices falling – buyers are not in a hurry.
“You have to be very good at finding ways to get deals done,” says Jahid Faizal Kahn, co-owner of Jetcraft, “the aim has to be to make buying – and financing – aircraft easier.”
There are no reasons why this will change. Governments are looking for tax revenues and despite lots of rhetoric there does not seem to be less red tape,
“The complexities these days really takes their toll,” says Oliver Stone, founder of Colibri Aircraft. “The airplane is usually the smallest issue – the big problems always seem to be taxes and finance.”
The other problem is that buyers know that there is no hurry.
One US businessman sold his GV in October 2008. He has been actively looking for a Challenger 605 for more than a year. During this time he has found several suitable aircraft but he has not been happy with the price. “I know exactly what aircraft I want and I am prepared to wait,” he says. “I hate to sound look Donald Trump, but it is going to be my deal or no deal.”