Thu, Oct 06, 2011
Jetbrokers Europe Reports Renewed Optimism
Despite an ongoing global economic downturn, the
Farnborough-based European arm of JetBrokers Inc, says it remains
optimistic about the pre-owned business jet market. The company
reported its best month on record in July in terms of pre-owned
aircraft sales activity and strong months in August and September
for new listings of pre-owned aircraft.
“Buyers are ever more demanding and taking an aggressive
line much as they have over the past couple of years, but over the
last six months we have experienced a sustained steady increase in
activity with sales enquiries and new listings. Pre-owned aircraft
continue to remain a sensible proposition for savvy buyers looking
for a deal,” said Tim Barber, Managing Director of JetBrokers
Europe.
Significantly, there has been gradual improvement and increased
market interest in Europe, especially in mid-size sector where the
company has been growing its inventory over the past 12 months.
JetBrokers Europe and JetBrokers Inc currently have in excess of 40
aircraft listed, including jets, helicopters, and turboprops.
Brendan Lodge, Business Development Director commented, “We
will be adding more midsize aircraft to our listings in the coming
weeks, enabling us to offer buyers a greater selection of high
quality, pre-owned super-midsize jets.”
Though far from perfect, the pre-owned market continues to show
improvement globally. "We have become somewhat acclimatised to the
depressed conditions but we continue to be busy generating interest
in aviation transactions even while the market is still tough,"
Barber said. "JetBrokers Europe started trading in 2009 and despite
the difficult economic climate since, we have continued to grow as
a company. The market has been slowly improving in 2011 providing
positive signs for business aircraft owners. Importantly, financing
is looking a little easier to acquire and some banks are
re-adjusting loan to value covenants resulting in aircraft coming
to market, although deals are generally taking a little longer to
complete than usual.”
Recent results from JETNET confirmed that in the first eight
months of 2011, pre-owned business jet sale transactions were up
11.4% with for sale inventories continuing to slowly decline and
average days on the market beginning to reduce from very high
levels.
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