GlobalAir.com watches revival of secondary market

GlobalAir.com, an aviation information online resource and BuyPlane application developer, said at the NBAA-BACE 2019 that the cost of used aircraft hosted on the site increased to US $ 6.5 billion in the Q3 2019 or by about 17% higher than a year ago.

Market demand also increased by 20% compared to 2018. As a result of this market recovery, when considering the first three quarters of 2019, 574 aircraft were sold, costing approximately US $ 3.1 – 3.5 billion, including 16 Gulfstream G550s and 15 Cessna Citation CJ3s.

Jeffrey Carriers, President, GlobalAir.com, said, “It was an unusual but vibrant year. We note that high-end aircraft priced within the market are sold within a few weeks, while older aircraft with high flying costs or prices that go beyond the market require significantly longer market exposure.”

The average exposure time of business jets presented on the site until the third quarter of 2019 was 199 days, the exposure time of helicopters was 235 days, twin-engine turboprop aircraft – 228 days, and single-engine aircraft – 155 days. GlobalAir.com predicts that no decline is expected in the secondary market during the first half of 2020.

Source – http://www.bizavnews.ru/

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