- News
- Apr 22, 2024
- 3 min read
Pre-Owned Aircraft Sales Are Rising
Prices and inventories of pre-owned turboprop aircraft are expected to stabilize, IADA reports.
According to IADA’s report for the first quarter of 2024, the pre-owned business aircraft market was “active”: accredited members of the International Aircraft Dealers Association (IADA) reported 253 closed transactions, compared with 239 in the same period of 2023. Analysts also suggest an optimistic outlook for the next six months.
According to IADA, the first quarter ended with 248 aircraft under contract, versus 206 in the same period a year earlier. In addition, IADA dealers had 302 exclusive sales contracts in the first quarter of 2024, significantly exceeding the 197 recorded in the first three months of last year. However, new acquisition agreements are slightly behind—166 versus 149—while the number of transactions in which prices were reduced rose by 69%, to 88.
“At the end of the first quarter, the pre-owned business aircraft market is objectively healthy, with numerous signs of a return to balance following a heated sales environment,” said Phil Winters, IADA chairman and Western Aircraft vice president of aircraft sales and charter management. “Six-month forecasts for sales, demand, inventory readiness and deliveries continue the optimistic trends we observed in the fourth quarter of 2023, despite regional unrest and uncertainty surrounding the U.S. presidential election.”
About half of the respondents participating in the survey of IADA members expect prices and inventories of pre-owned turboprop aircraft to stabilize. As for business jets, growing inventories are providing much-needed products to meet the sharp shift in demand for business aircraft. The recent certification of the Gulfstream G700 is expected to increase the inventory of pre-owned aircraft in a market hungry for young, high-end aircraft, IADA states.
According to IADA’s report for the first quarter of 2024, the pre-owned business aircraft market was “active”: accredited members of the International Aircraft Dealers Association (IADA) reported 253 closed transactions, compared with 239 in the same period of 2023. Analysts also suggest an optimistic outlook for the next six months.
According to IADA, the first quarter ended with 248 aircraft under contract, versus 206 in the same period a year earlier. In addition, IADA dealers had 302 exclusive sales contracts in the first quarter of 2024, significantly exceeding the 197 recorded in the first three months of last year. However, new acquisition agreements are slightly behind—166 versus 149—while the number of transactions in which prices were reduced rose by 69%, to 88.
“At the end of the first quarter, the pre-owned business aircraft market is objectively healthy, with numerous signs of a return to balance following a heated sales environment,” said Phil Winters, IADA chairman and Western Aircraft vice president of aircraft sales and charter management. “Six-month forecasts for sales, demand, inventory readiness and deliveries continue the optimistic trends we observed in the fourth quarter of 2023, despite regional unrest and uncertainty surrounding the U.S. presidential election.”
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About half of the respondents participating in the survey of IADA members expect prices and inventories of pre-owned turboprop aircraft to stabilize. As for business jets, growing inventories are providing much-needed products to meet the sharp shift in demand for business aircraft. The recent certification of the Gulfstream G700 is expected to increase the inventory of pre-owned aircraft in a market hungry for young, high-end aircraft, IADA states.
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