The global aftermarket for business jets has recently become even more challenging for sellers, Thierry Boutsen, chairman of Boutsen Aviation, told AIN this week at EBACE. “Large jets used to hold their value better but, for about 12 months they have caught up with the depreciation trend of smaller aircraft,” he said, indicating an average downward tendency of 15 percent a year.

Such an evolution is becoming familiar to the owners of smaller aircraft. “Since 2010, most of the jets have seen an average depreciation of 1 percent per month,” Boutsen explained. Therefore, buyers tend to wait, whereas sellers want to close a deal as soon as possible. “Sellers are beginning to understand that the first offer they receive will certainly be the best one.”

Focusing on Europe, he said there are too many business aircraft on the continent. In just a few years, the fleet has doubled, but the number of flight hours has remained the same, according to Boutsen.

This gloomy environment has not prevented Boutsen Aviation from growing. Over the past 12 months, the Monaco-based broker created by the former Formula One racing driver has enjoyed record sales, at 22 aircraft. “This is a record in deliveries and combined value,” he said.