As the recession continues apparently unabated despite billions of dollars being poured into failing worldwide economies the private jet for sale market continues to run into turbulence.
Business jet sales are being slaughtered by the continuing slump in the global economy, we take a look at whats going on.
There are those who forecast a very long recovery for the private jet industry. There was a time when a millionaire had only to produce 10% deposit to buy his own private jet but these days are long gone.
The slump in the jet market is not helped by the fact that it is no longer politically correct for large companies that have been bailed out by governments having their executives travelling by private jet.
The General Aviation manufacturers association say that deliveries of business jets have dropped more than a third in the first quarter of 2009 and their forecast for 2010 is not good. Aviation consultant Brain Foley from ‘Private Jet Daily’ said “We don’t see the number of deliveries even hitting 2008’s level in the next 10 years”
Experts seem to differ in agreement that manufacturers will receive more cancellations from buyers as confidence in early recovery continues to be low.
According to ‘Private Jet Makers’ the charter jet industry is just being maligned by the media and when the feeding frenzy is over things will bounce back to normal. But who knows what is ‘normal’ in this new financial climate, it seems that whoever is right there is no sign of the market improving anytime soon.
The good news for perspective buyers still looking to buy a private jet plane is that the glut in the Market with so many used business jet planes sitting on the tarmacs around the world is that it is a buyers market. Just take a look at the private jet ads and you see immediately that prices are being cut almost monthly as owners seek to unburden their embarrassing liability.
It may also be that the emerging economies will lead the way as the world economy continues its merry go round maybe its someone else turn to take the lead in private jet ownership.
Take a look at debate about who took a private jet to the conference, its uncomfortable for some….
Private Jet Plane news from around the net…
Private Jet Company Buys Jets.com
Jets.com Sells for $375000, One of Three Six Figure Sales at Sedo – The Domain Industry’s News Source. September 22nd, 2009….
The Difference Between Private Jets for Sale and Fractional Jet Ownership
Well, when it comes to finally purchase a private jet that you always wanted you need to look at the various costs. Whether it is maintenance or hanger charges….
