Light jets are great for regional travel, and a favorite of many charters, but they’re limited in range — typically to 1,000 nautical miles or a three-hour radius. The need to go farther usually pushes private jet buyers into the midsized category, but now, Honda is pushing boundaries and blurring lines between light airframes and midsize ranges. Its new prototype, the HondaJet 2600, is light in stature, but it could make coast-to-coast flights to rival the range and speed of its midsized counterparts — and it’s a potential game-changer for both categories.
A prototype with exciting possibilities
HondaJet is well-known for its high-performing regional jets, including its Elite S and original HondaJets. It’s a strong contender in the 1200-1400 nautical mile range. Now, it’s looking to double that range with its prototype 2600 model.
The HondaJet 2600 is designed to meet the demands of transcontinental jetsetters. It builds on the success of the Elite S and its over-the-wing engine mount design — as well as its composite fuselage. It also represents continued innovation of an already efficient design with its improvements to Natural Laminar Flow technology on the nose and wings.
According to HondaJet officials, the 2600 stands to be the first-ever light jet capable of transcontinental flight. It’s expected to reach a maximum cruising speed of 450 knots and an impressive flight ceiling of 47,000 feet.
Source: hondajet.com
Blurring the lines between market segments
HondaJet is pulling out all the stops in pursuit of light jet market dominance. The 2600 will offer the range of midsized models in a light jet package and come equipped with some of the most advanced features in both markets. It’s a true hybrid with the potential to disrupt both market segments.
With seating for up to 11, the HondaJet 2600 will come with one of three pre-configured cabin arrangements, suited to the individual owner. Featuring the tallest cabin height in the light jet class and an unmatched cabin altitude of 6,363ft, it’s a jet designed as much for comfort as performance.
In the avionics department, pilots benefit from auto-throttle, auto-brake, advanced steering augmentation system (ASAS) and runway overrun awareness and alerting system (ROAAS) features. These innovations make for smoother, safer flights and blend well with the tremendous efficiency features factored into the 2600’s design.
Source: hondajet.com
Efficiency like no other
While still a prototype, the HondaJet 2600 already has the industry and its followers buzzing — because of its potential distance, yes, but also because of its clear emphasis on efficiency. It’s this efficiency that will enable the 2600 to go the transcontinental distance.
Over-the-wing engine mounting and performance fuselage design are set to make the 2600 up to 20% more efficient than other light jets — and more than 40% more fuel-efficient than a midsized jet during a typical flight.
“With the HondaJet 2600 concept, which enables efficient transcontinental flight, offers new level of cabin comfort and capacity and dramatically reduces CO2 emissions, we are introducing a new generation of business jets,” said Honda Aircraft CEO Michimasa Fujino.
Before we can dub the HondaJet 2600 a market-busting hybrid, it’s important to remember that at its current stage, it remains a prototype — with no set dates for flight testing or production. In all likelihood, the 2600 concept will evolve into a new iteration before coming to market — one with even more exciting possibilities.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
New jets typically make their market debuts by setting a city-pair record. Records demonstrate a jet’s prowess and establish market authority, distinguishing it from its predecessors and any potential competitors in its class. But jets rarely set new precedents for distance, so when a new contender comes along — and moves the goalposts for nautical range — it’s big news. And the new Gulfstream G800 has done just that with its recent range record of 8,000 nautical miles. In a market dominated by jets proven to go the distance, the G800 is going farther faster.
Pushing the limits of private aviation’s range
Gulfstream unveiled the G800 — and its smaller sister jet, the G400 — in October 2021 to much fanfare. Headline news from the event was immediately clear: The world was about to meet the longest-range jet ever produced.
Powered by two Rolls-Royce Pearl 700 Turbofan jet engines, the G800 expects to have an 8,000-nautical-mile range at Mach 0.85. It’s a marked improvement over the previous record holder: Bombardier’s Global 7500, which has a maximum range of 7,700 nautical miles at the same speed. In a jet class wholly dependent on the ability to go farther than the competition, Gulfstream’s G800 is making a bold statement about the future of long-range air travel.
Source: gulfstream.com
A closer look at the G800’s record-setting build
Perhaps the most intriguing aspect of the G800 is that it’s not a huge departure from Gulfstream’s current jet lineup. It’s merely a new configuration designed with distance in mind.
The G800 features the same engines as Gulfstream’s G700, as well as its proven wing, tail, and winglet designs. But the G800 borrows its fuselage from the G650ER. This amalgamated build leverages the already-proven range of the G650ER — at 7,500 nautical miles — with the power and aerodynamic efficiency of the G700. The result is a jet designed to fly farther than any other without compromising speed.
Comfort is also a staple of the G800. The cabin seats up to 15 across three living areas with available configurations for both business and leisure. Sixteen panoramic oval windows set the industry standard for natural light exposure, and a plasma-ionization clean air system refreshes every two minutes to ensure total comfort. It’s a jet that’s also designed to keep you comfortable while flying farther.
Source: gulfstream.com
The world just got a little smaller
One of the biggest takeaways from the G800’s unveiling is the slew of new city pairs it makes possible over greater flight distances. Sydney to Dubai, Dallas to Hong Kong, and Moscow to Buenos Aires all become nonstop destinations with the extra range afforded by the G800.
“We designed the ultra-long-range G800 to extend our customers’ reach to more people and places around the world,” said Gulfstream President Mark Burns at the unveiling. Burns also revealed that plans for the G800 have been in the works for more than two years, since the introduction of its predecessor, the G700.
Gulfstream will begin deliveries of the G800 in 2024. The jet has a price tag of $71.5 million.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
When most companies think about BizJet investments, they’re not thinking about turboprops. The turboprop market traditionally skews toward smaller craft — until now. Embraer teased plans about a regional turboprop earlier this year, and now that the design has been revealed, it’s garnering praise from some — and leaving others scratching their heads.
Why the mixed reaction? Embraer’s design defies traditional sizing for a turboprop craft, and the engines aren’t on the wings — they’re mounted to the rear fuselage.
A brand-new concept undergoing continued iteration
Embraer announced some time ago that it was working on a new regional jet, and since then, information has slowly leaked about its design. Analysts quickly grew skeptical of the new turboprop concept. It would make the new jet the first midsized aircraft in decades to feature the design. And the latest release has further divided the skeptics from the believers.
Embraer announced its new regional jet would embrace the turboprop concept, and it would take the design a step further to feature two engines mounted to the rear fuselage. Renderings released by the company reveal a novel aircraft which incorporates a classic design with modern aesthetics. But this might not be the final design. According to the company, it’s still studying the concept and engaging potential partners to determine the best mode of production.
Why a return to turboprops?
Large turboprops have a notorious reputation in the BizJet sector. Passengers frequently complain about noise and vibration from turboprop engines, and the design typically limits range — especially for midsized models.
But it’s precisely these pitfalls driving the design of Embraer’s new craft. According to Rodrigo Silva e Souza, Embraer’s Vice President of Marketing and Strategy, “We realized that if we put the engines at the back, we would reduce the noise significantly. In fact, the noise levels that we get in our simulations are basically the same that we have in our jets today.”
And Embraer isn’t just solving old problems; it’s looking ahead for future opportunities. As Silva e Souza explained, Embraer’s design relies on a future in which hydrogen propulsion systems are a staple: “For this size of plane, we understand that the future will be hydrogen powered aircraft. And when we think about a version of this product powered by hydrogen, the best configuration would be to have the hydrogen tank closer to the engine.”
Embraer is aware of the stigma surrounding larger turboprops, but it hopes to produce a plane to change the conversation and shift perception.
A regional turboprop makes sense
Embraer’s still-unnamed regional turboprop has the potential to carve out a market share in a space where regional jet travel is on the rise. As more people choose to fly private aircraft, they’re looking for affordable solutions. The lower market entry for a turboprop puts Embraer at an immediate advantage, and its upgrade potential makes it a market-ready investment for charter companies that need to remain agile.
Where most airframe manufacturers are content with iterating on already-proven concepts, Embraer is forging a new path forward by looking backward. And they have investor support. Embraer stock has climbed since the announcement of its regional turboprop.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
There’s been plenty of buzz about supersonic jets taking to the skies in the next decade. But according to Hermeus — an aviation company based in Georgia — supersonic might already be old news. And Hermeus is thinking more than twice as fast as Mach 2. The company recently revealed plans for its Hermeus Quarterhorse: a Mach 5.5 jet capable of flying at speeds of 4,219 mph. It might sound like a lofty goal, but it already has the attention of the United States Air Force (USAF) — to the tune of $60 million in grants.
Supersonics as a steppingstone
Talk about a hypersonic jet may seem premature. We’re still years removed from a supersonic return to the jet stream. And while there have been major strides toward Mach 2 travel in recent years, the industry itself is still in its infancy.
The presumed frontrunner for supersonic dominance, Aerion, dropped out of the industry earlier this year after running out of funding. Boom Supersonic has stepped in to fill the role, but its XB-1 still hasn’t seen an inaugural test flight. Competitors from Spike Aeronautics to Virgin Galactic are also in the mix, but they lag even further behind.
Why even bother thinking about hypersonic jets? Supersonic jets will blaze a trail of innovation through legal red tape and aviation regulatory standards—clearing the way for hypersonic jets to zip right by them.
A look at the Quarterhorse
A quarter horse is a stocky breed said to be the fastest over distances of a quarter mile or less. Hermeus plans to pay homage to these popular racers with its hypersonic jet. Its own Quarterhorse seeks to be an unrivaled force in the skies.
Based on plans made public by the company, the Hermeus Quarterhorse will have a top speed of Mach 5.5 (4,219 mph) — making it the fastest reusable craft in the world. If Hermeus has its way, the Quarterhorse will cross the Atlantic Ocean (NYC to LON) in 90 minutes or the Pacific Ocean (LAX to TYO) in roughly two and a half hours.
A path to hypersonic flight
While some might laugh at the concept of a Mach 5 passenger jet, others are eager to make it a reality — including private investors and the USAF. Hermeus is well-funded, and it’s pushing the envelope for hypersonic technologies at an enthusiastic pace. The company is taking an iterative approach to flight testing and plans to test unmanned craft at high-Mach speeds before developing the airframe for passenger use.
Hermeus is already off to the races. In nine months, the company built and tested its demonstrator engine, and just like that, a fantastic hypersonic future became attainable.
When will we see the Hermeus Quarterhorse in the skies? An aggressive timeline makes it available for test flights in 2022, military use in 2025, and private air transportation by 2029 — if everything goes according to plan and supersonics pave the way for faster flight in the years ahead.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
Every new jet launch seems to come with a new set of city pair records. This time, it’s Gulfstream’s new G700 jet — which has captured the city pair record for Savannah, Georgia to Doha, Qatar. What’s the record? A transatlantic flight time of 13 hours and 16 minutes. It’s an impressive record – unlikely to be broken anytime soon — and it demonstrates the potential of Gulfstream’s new ultra-long-range jet.
A record unlike any other
New city pair records aren’t uncommon for new jets, but transatlantic ones are much more difficult to attain. Consider city pair records for ultra-long-range jets, and these events are even more rare. It’s that rarity which makes the G700’s newest record so impressive. It’s not just a city pair record: It’s a super-long-range, transatlantic record set by the world’s largest business jet.
Flying direct at speeds averaging Mach 0.88 (675 mph), Gulfstream’s G700 jet made the flight in just over 13 hours. The total distance of 6,711 nautical miles is a staggering feat for a jet with four separate living areas, seating up to 19 passengers and sleeping 8. Even more stunning, the G700 has a total range of 7,500 nautical miles — a full 800 nautical miles beyond its recent record. And it didn’t stop with a new transatlantic record: The G700 also recorded a city pair from Doha to Paris in just six hours and 15 minutes.
Source: Gulfstream
Crowning the next super-long-range leader
Gulfstream’s transatlantic city pair record isn’t just a demonstration of its new jet’s tremendous capabilities: It’s a statement. The G700 is entering an extremely competitive market and fighting for a modest slice of the BizAV pie. Its primary competition comes from the Dassault Falcon 10X and Bombardier’s Global 7500 — two recently announced or recent-to-market jets quickly entrenching themselves as potential market leaders.
By demonstrating its speed, range, and efficiency, the G700 has proven to be a premier contender in the competitive super-long-range jet vertical. With its combination of record-setting capability, incredible interior furnishings, and its status as the world’s largest business jet, it is well-placed to be the leader in this category. And this new transatlantic city pair record is yet another cherry on top.
Ready for globetrotting in 2022
The G700 is set to enter service in 2022, and companies — and countries — are already buzzing with anticipation. Qatar Executive, a subsidiary of Qatar Airways, will be the first to put G700 jets in the air — and one major reason the company chose Doha to establish its city pair record. Gulfstream has yet to reveal the number of G700 deliveries estimated for 2022.
With a state-of-the-art flight deck, lavish interior living spaces, and now, proof of its ability to jet around the world quickly and effortlessly, the G700 is the candidate to beat from the upcoming class of super-long-range jets. This category is in a period of reinvention and heightened competition, and Gulfstream is poised to come out on top again, cementing a longevity few other airframe makers can claim.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
Innovations are making waves in the private aviation sector, but few are as game-changing as the shift to Sustainable Aviation Fuels (SAF). As private aviation becomes more prevalent — and environmental concerns continue to mount — SAF provides is the necessary answer to bridging the gap between convenience and environmental responsibility.
With emission reductions of up to 80%, SAF allows jetsetters to zip around the country — and the world — with relatively minimal environmental impact. This trend, pioneered by BizAV, is expected to come to commercial airliners soon as demand for SAF ramps up.
The buzz about SAF
Jet A/A-1 has been the staple jet fuel for years, but it’s rapidly losing ground to SAF — a bioengineered jet fuel with significant benefits over its predecessor. Aside from 80% emission reductions, SAF also promises to be better for jets and more efficient for travel. More than 400,000 flights have already traveled with SAF.
The aviation industry, its leadership, and international regulatory organizations are embracing SAF in their search for a carbon-neutral future, OEMs have come out in support of SAF, and it’s also recommended by the FAA, EASA, and other international aviation safety agencies.
BizAV charts the course
SAF is a force for change in aviation thanks to the BizAV sector. So far, the higher cost of this fuel alternative has kept commercial airliners at bay, but private jetsetters have proven themselves the ideal test subjects for SAF’s capabilities.
Ease of adoption within BizAV has also made SAF more accessible. Charter operators and private jet owners flying out of airfields where SAF is available are finding it easier to embrace sustainability. Jet service provider VistaJet, for example, has seen 85% adoption of SAF among its clients thanks to its promise of optimized fuel efficiency.
And VistaJet isn’t the only major BizAV entity to prioritize SAF adoption. Industry leading charter companies, such as NetJets, are also focusing their attention on sustainable practices, including utilizing SAF wherever possible. As these major providers incorporate SAF into their operations, bioengineered jet fuels become increasingly entwined with the industry — making them easier for commercial airline operators to evaluate and eventually adopt.
SAF makes its growing presence known
Access to SAF is growing rapidly. More airfields are carrying it and offering it alongside traditional jet A-1, and airfields are even beginning to get requests for it. And technology is making it easier for BizAV and private jet owners to specifically choose SAF by identifying the airfields that carry it.
Currently (September 2021), SAF is available at roughly two dozen major airfields, and it’s set to come to dozens more over the next year or two. As massive companies continue to make environmentally friendly commitments, more airfields will need to address the rising demand for SAF to retain their business. This cascading effect will be the catalyst for bringing SAF to commercial airliners — and with it, aviation’s fulfillment of an environmentally sustainable future.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
The cost of owning a business jet goes well beyond purchase price. There are numerous upkeep and maintenance responsibilities to consider, and it can be difficult to stay on top of them all — which is why maintenance and repair operations (MRO) apps are becoming more popular.
The latest and greatest comes from Bombardier: the myMaintenance app for Smart Link Plus users. Together with its Smart Link system, Bombardier’s new app gives bizjet owners an easier way to keep up with service, so their jet remains safe and airworthy.
A look at the myMaintenance app
Jet ownership requires continuous investment in aircraft maintenance and repair. There are ongoing, scheduled, mandated, and emergency maintenance tasks required throughout the life of a jet. For most private jet owners, following a regular maintenance schedule — while also accounting for unpredictable maintenance — can be a significant challenge. The myMaintenance app, and others like it, aim to make things easier with instant status updates and notifications delivered to any mobile device.
Developed by Bombardier, the myMaintenance app is an all-in-one solution that helps jet owners stay on top of both predictable and unpredictable maintenance concerns. It allows subscribers to track, troubleshoot, and manage all aspects of service from any mobile device. Smart Link Plus hardware is installed to record all aircraft data, so flight and maintenance crews can troubleshoot issues even during flight. Crews and air traffic controllers on the ground gain access to real-time data — anytime and anywhere.
The result is greater peace of mind for jet owners. Crucial, on-demand aircraft data allows crews to make better and faster maintenance decisions. For now, myMaintenance is only available for the Global 7500 and Challenger 300/350, but wider use is expected soon.
More MRO apps on the horizon
MRO apps are poised to set the new standard for aircraft data. Apps make it easy to track the ownership history of a particular aircraft and record all its previous maintenance, repair, and upgrades. An app will make owning and maintaining jets simpler for the entire period of ownership, and when it’s time to sell, passing maintenance information on to the next owner can be done at the touch of a button. MRO apps provide a new level of transparency and certainty to buyers and sellers alike.
While Bombardier’s app may be novel right now, private aviation enthusiasts can expect to see similar competing apps in the near future. Other airframe manufacturers will be quick to capitalize on buyer demand for consolidated, well-tracked histories of jet maintenance. Syncing service records in a comprehensive digital jet profile is the next step forward in private aviation.
Contact the experts at L & L International for assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
Since the mainstream arrival of chartered aviation services, jet cards have been an industry staple. They enable holders to fly privately on different craft at fixed rates with certain perks or opportunities depending on their card level. Jet cards make the benefits of private aviation broadly available to those who don’t own their own jet. This convenience is causing an explosion in popularity for jet card membership as lingering pandemic concerns fuel the rise of private aviation.
Demand for jet cards is booming
The global pandemic has had a drastic effect on consumer habits in every sector, including private aviation. The private jet industry is seeing record highs for flight demand fueled by pandemic fears and an increase in personal wealth creation due to a rising stock market. Those who can afford to charter an aircraft have done so to avoid the health risks of crowded airports and packed commercial flights.
It’s clear both business and leisure travelers are willing to pay more for the safety, convenience, and comfort private jet travel affords. Nowhere is this more evident than in the rising demand for jet cards and membership to various charter jet agencies.
The travel boom has fueled interest in private jet cards, leading charter companies, such as NetJets, to temporarily pause their programs to best serve the needs of existing clients. The pause allows NetJets to take time to reassess and consider how to meet new demand. Charter company Wheels Up has also seen a surge in demand — and revenue — with membership growing over 50% in the last year. Customers are flying longer distances and demand is up for all fleet categories — a trend private jet experts believe will continue to grow in the months ahead.
A lucrative opportunity for flyers and sellers alike
As more people shift from commercial to private aviation, companies have an opportunity to promote the jet card membership model.
A private jet membership is one of the easiest ways for newcomers to get a taste of private jet travel. Many companies offer a tiered membership model for cardholders to access flights and specific lifestyle and hospitality benefits. Members who invest in higher tiers can take advantage of a dedicated concierge service, automatic President’s Circle status with Hertz, meet-and-greets with celebrities, bucket list travel opportunities, and other perks.
For members at all levels, aviation companies must keep their focus on reliability. As more people ditch commercial flights in favor of charters, companies must ensure they have the capacity to handle increased demand. This includes accommodating travelers even on peak days when demand is at its highest.
The new norm for private aviation?
The aviation industry — and private aviation in particular — is experiencing a historic post-pandemic boom. As more people choose safety, convenience, and luxury over commercial travel, the popularity of jet cards will continue to rise. Card memberships and perks are likely to change in the near term as the industry seeks to accommodate the influx of new patrons.
Contact the experts at L & L International if you need assistance acquiring or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1 (305) 754-3313, or visit us online.
Bombardier’s new Challenger 3500 will replace its Challenger 350 models beginning in mid-2022. A critical piece of Bombardier’s push into the super-midsized arena, the new Challenger 3500’s base model will sell at the same price point as its predecessor: $26.7 million.
A refined interior
Competition in the super-midsized category begins in the cabin, and it’s where Bombardier has focused the bulk of its upgrades for the Challenger 3500. The jet’s refreshed interior borrows heavily from the wildly popular Global 7500 model, bringing the creature comforts of a much more expensive long-range jet to a midsized package. Some of the improvements touted by Bombardier in its reveal of the Challenger 3500 include:
Source: bombardier.com
Nuage seats, debuted in the Global 7500, that fully recline and move on floating bases
A see-through wine cooler, and storage for wine glasses, in the forward galley
A swath of cabin management and entertainment upgrades, including voice controls
Wireless device charging built into the furnishings for a true cordless experience
Sustainable furnishing materials, including upcycled wool and polyester
Bombardier has also redesigned the jet to lower cabin altitude by 2,000 feet. Passengers will experience cabin pressure that mimics 4,850 feet, while cruising at an altitude of 41,000 feet — a truly impressive 31% improvement over the Challenger 350’s cabin.
Source: bombardier.com
Avionics and flight control
The Challenger 3500’s improvements don’t stop in the cabin. Pilots will benefit from cockpit technologies taken from Bombardier’s Global 7500 jet, including a Safe Flight auto-throttle — which reduces pilot workload and makes for more efficient engine control.
Pilots will find themselves at the familiar helm of a Rockwell Collins Pro Line 21 avionic suite, giving them state-of-the-art capabilities, including optimal route charting for the most sustainable flightpath.
Focus on new buyers and market penetration
Bombardier’s decision to revamp the Challenger 350, and breathe new life into the super-midsized jet market, comes at an extraordinary time. Used jet inventories are low, and new buyers are entering the market in droves. The super-midsized category is poised to become a hotbed for buying activity. As the hot new jet on the market — equipped with game-changing comfort upgrades — the Challenger 3500 stands to capture buyer attention in a market ripe for competition.
With its new improvements, the Challenger 3500 stacks up well against other popular jets in its category, including Embraer’s Praetor series, the Citation Latitude, and the Gulfstream G280. Buyers face a difficult choice at this price point — one made even more challenging with Bombardier’s newest addition.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
Prices are on the rise in the post-pandemic market — including for private jets. Pre-owned jets are historically affordable options for those seeking to make the leap to private jet ownership. Now, according to the National Business Aviation Association (NBAA), the winds of change are blowing. The supply of used jets is shrinking, leading to higher prices in a time of surging demand. The cost barrier for jet ownership might be a little higher these days, but it’s a great sign for the health of the industry.
Why are private jet prices on the rise?
Many factors lend themselves to the rising cost of private aircraft. Above all, inventory has reached record lows. The reason? First-time buyers. New buyers have had a massive effect on the market because they’re purchasing used jets without an aircraft to trade in. The scales of supply and demand have tipped in favor of demand.
Complicating matters further, owners of multiple jets are hanging onto their fleet. The result is rapidly depleting inventory for used jets. Couple low inventory with increased, pandemic-related demand for private air travel, and you’ve got the perfect recipe for spiking prices.
Pandemic factors have fueled demand
When the world shut down during the global pandemic, private jet sales soared. 2020 was a banner year for pre-owned jet sales, with sales figures for used jets nearly doubling compared to previous years. In December 2020 alone, the number reached 861 — compared to 479 in December of 2017.
Today, there are only 1,400 used jets for sale. According to Rollie Vincent, president of Rolland Vincent Associates, current inventory is “The lowest we’ve seen in years. It’s an unheard-of number that represents about 6 percent of the fleet. There are simply more buyers than sellers.”
Buyers eager to enter the market have few options other than purchasing new aircraft, and inventory is tight there as well. In some cases, small single-engine planes have seen double digit price increases. Larger planes have seen single digit increases, but considering the value of these jets, even minor increases can raise the purchase price by millions.
There’s no sign of the market easing anytime soon. The NBAA expects inventory to remain tight for at least the next year.
Rising prices are a good thing
Rising rates in any sector might alarm consumers, but it’s a good sign for the private aviation industry. It signals high demand for jets, consistency in expectation, confidence in the market, and buyers’ willingness to pay a premium for something they see as an asset.
Private jet brokers and sellers are no longer required to entice potential buyers as they were forced to in the years following the Great Recession. Instead, they’re trying to keep up with constantly increasing demand.
For those looking to enter the world of private aviation — or seeking an upgrade for their current jet — competition is fierce. It’s a seller’s market. With prospective buyers clamoring for pre-owned jets at higher-than-ever prices, it’s prudent to exercise patience. Working with an experienced broker can get you into the aircraft you want much faster than going it alone.
The expert jet brokers at L & L International are here to help you acquire the perfect jet. Need to sell your jet? We can assist with that too. Contact the private aviation professionals online, at sales@L-Lint.com, or at +1 (305) 754-3313.
