The year ends with a flurry of activity with the majority of transactions successfully completed as ‘off-market’ i.e. aircraft not available publicly. This is a segment Global Jet has built a reputation, for performance both in terms of concluding transactions but also achieving high prices on behalf of owners.
Thanks to the ongoing strong demand from the US market for second-hand aircraft, Global Jet managed to complete numerous transactions of long-range and wide-body aircraft from the leading aircraft manufacturers such as Airbus, Boeing, Bombardier, Gulfstream, and Dassault. Many of the deals concluded this year have been mainly referrals from existing clients and partners around the world. Aircraft types ranged widely since for the past decade, we had predominantly concentrated on selling and buying long-range aircraft. The team recently concluded a Pilatus 24 transaction as well as a Citation CJ3 and then on the opposite side of the spectrum, a stunning VIP Commercial aircraft on behalf of a European buyer.
Overall, demand remained strong throughout the year and a number of clients even managed to realise gains by selling for more than they paid a few years ago. We have not seen this type of market for a while and it is unlikely this trend will continue. However, in the short-term we expect positive demand from the pre-owned segment since interest to acquire new is at its highest levels but manufacturers are quoting deliveries in 2-3 years. Production levels have increased but they are struggling to source qualified labour and continued supply chain issues.