Preowned aircraft transactions have fallen in the face of the Covid-19 pandemic, according to industry data provider Asset Insight’s just-released Q2 AI2 Business Jet and Turboprop Market Report. The analysis showed that jet prices have fallen as well, by 3.6 percent during the first half of the year. This decline was led by the large-cabin jet segment, which was down nearly 10 percent, and followed by midsize jets, which were off 5.2 percent.
Bucking the trend, and reflecting their higher current usage, was the light jet category, which saw prices increase by 8.8 percent during the period. Turboprop pricing, however, saw a decline of more than 5 percent. Asset Insight noted that the average days on market increased by an additional 0.6 percent during the second quarter.
“We’ve all been living in an unusual time, both professionally and personally,” said company president Tony Kioussis, adding that while the downturn in sales was not unexpected, there have been stirrings of late in the market. “We started to see an increase in activity during late June, which could bode well for the industry. With the strong quality of aircraft listed for sale, this time should certainly be seen as an opportunity for buyers.”
