Bizjet Market Still Remains Stable, Says Jetcraft
Despite worries over government debt in the U.S. and Europe that have led to roller-coaster-like stock markets, the business jet market remains stable, according to business aircraft sales, acquisitions, trading and brokerage service firm Jetcraft. “Fundamentally, Jetcraft’s market outlook remains unchanged, despite recent financial uncertainties in Europe and the U.S.,” says Jetcraft president Chad Anderson. As evidence, he notes that prices of new, long-range, large-cabin business jets have “stabilized significantly” thanks to strong demand from emerging markets in Asia, Eastern Europe, the Middle East and South America. Jetcraft says it is also seeing demand recover in North America, from both public companies and wealthy individuals. Additionally, Anderson says there is a healthy supply of “legacy” business jet models on the pre-owned market that creates attractive opportunities for buyers. Jetcraft believes such aircraft include the Bombardier Challenger 604, Gulfstream IV and Dassault Falcon 900B. “We believe that confidence in the business jet market is holding because the volume of transactions has remained quite stable,” says Jetcraft co-owner Jahid Fazal-Karim. “Business jet purchasers are generally acquiring aircraft based on anticipated lift requirements six to 18 months from today.” This trend, he said, illustrates continued confidence in the global need for long-range business jets.