Industry Insights

During the height of the pandemic, inventory levels for business aircraft dropped to a record low of 3%. Buyers were less demanding, it was easy to find a buyer close to home, and many aircraft were sold before they hit the market.

With demand at an all-time high, selling a listing was more straightforward, especially as many sellers delayed large maintenance projects and internal refurbishments to capitalize on a dynamic market.

Now the market is returning to normal, it’s important that sellers understand the benefits of properly readying their aircraft for sale to maximize its value.

Previously, buyers were willing to invest in the business jet they wanted, even if it was due for maintenance or refurbishment. Today’s buyers expect aircraft to be well maintained and in the early part of their maintenance. Sellers should stay ahead of maintenance requirements to ensure their aircraft’s readiness for a buyer or be prepared to lower their price.

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Jetcraft is the largest worldwide buyer and seller of business aircraft, with 60+ years of experience. We understand that every transaction is personal, and our team of experts work diligently on our clients’ behalf. For decades we’ve been supporting buyers to find the right aircraft for their mission, and ensuring that sellers benefit from our global network and sophisticated promotional tools to capture the attention their aircraft deserves.

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The European commercial aviation industry has rebounded faster than expected following the pandemic, with particularly strong recovery seen in the regional market.

This return to health is underlined by the European Travel Commission (ETC), which has predicted international tourist arrivals to Europe will surpass 2019 levels in 2024, a year earlier than previously forecast.

For major airlines, there’s a challenge in meeting this increased demand at a time when certain narrowbody models are contending with well-publicized Pratt & Whitney GTF engine problems, and globally, narrowbody inventory remains scarce.

The result is a growing trend towards European airlines turning to regional aircraft and seeking longer leases to source the capacity they need.

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At Jetcraft, we’ve put together the strongest and most dedicated team of aviation specialists, ready to sell your aircraft quickly and at the best price. That includes our legal experts, who handle negotiations for letters of intent, purchase agreements, and closing for each aircraft, while simultaneously advising the sales team on how to best structure their transactions.

In this video, Matt Potts, General Counsel – EMEA, explains the dedicated support Jetcraft can provide, navigating even the most complex of deals.

How is the legal team involved in Jetcraft’s deals?

The legal team are generally only involved if we are purchasing and selling an aircraft. This could be an almost simultaneous purchase and sale, purchase for inventory or sale out of our inventory. We handle all the negotiations for the letters of intent, purchase agreements, drafting, closing preparations, and closing of the aircraft. On the front end of the deals, we will also advise the sales team on how to properly structure a transaction and get the logistics right so that we can get the deal done successfully.

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India’s aviation sector is thriving. No other country in the world ordered more aircraft during 2023, with Indian airlines spending billions on close to 1,000 new jets. This surge highlights the strength of the commercial aviation market and demonstrates significant growth potential for the business aviation sector.

The nation is currently the busiest Asian market for business jet activity, with WingX data showing movements in 2023 are up 21% compared to 2022. The report also shows 2023 business aviation flying levels are down 4% on 2022 globally, so India’s growth is bucking the trend. At Jetcraft, we’ve seen rising demand from prospective buyers in India, with midsize and large aircraft types the most popular.

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During the pandemic, business aviation became a hugely attractive option for those who had the means but had never previously flown privately. Many ultra-high net worth individuals (UHNWI) quickly recognized the health, safety, time and productivity benefits business aviation offers.

It’s encouraging to read that some 95% of new entrants are continuing to fly privately, according to a study featured in Aviation International News. To support the long-term success of our sector, we need to build on this momentum to ensure all users of business aviation continue to have an exceptional experience. Here’s how.

Providing value

Our industry must promote the benefits of business aviation, which unlocks opportunity and drives economic growth by maximizing efficiency and connectivity.

During the pandemic, the ability to travel without boarding packed planes and waiting in crowded terminals was self-evident. This also provides peace of mind today, on top of the additional convenience and connectivity offered, which is particularly valuable when airlines are still frequently delayed.

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Jetcraft became the first business aviation company to establish a permanent presence in the Metaverse when we built our Decentraland lounge in 2022. We unveiled our virtual hangar in 2023, providing a 24/7 immersive aircraft viewing experience that can be accessed via our website, lounge and Oculus headset.

Additionally, at the General Aviation Terminal in Nice Côte d’Azur Airport, business aviation users can now effortlessly enter our virtual space through an interactive Jetcraft display – which begins with the clouds parting to reveal our virtual hangar through the use of motion sensor technology.

Bringing the Metaverse and VR technology into our operations isn’t simply innovation for the sake of it. While it’s still early days, and how and when the internet will evolve is yet to be determined, we know that it’s crucial we join up our full Beyond the Globe experience to learn how to meet the requirements of business aviation’s changing customer base.

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To our Clients, Partners and Friends,

Over the past 60+ years, we’ve been fortunate to consistently expand our business, and in 2023 we saw many defining moments in Jetcraft’s story.

In April, we solidified our premier sector position, acquiring North American firm CFS Jets. Our collective team of more than 100 global advisors now bring over a century of combined experience and the most diverse product expertise in the industry. Last year we also teamed up with Bill Papariella as the exclusive trading partner to AeroVentures. We’re working together to foster long-term growth and share information, including Jetcraft’s market-leading data and analytics. And, in a first-of-its-kind collaboration, we joined forces with Jetquity, opening up their pioneering Residual Value Program to our client base.

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The International Air Transport Association (IATA) has announced that 2023 exceeded initial profit expectations, and the outlook for 2024 is even more promising with projections indicating a record $964bn revenue for the airline industry in the coming year.

In fact, 2023 was a near-historic year with a surge in aircraft purchases, including during the Dubai Airshow with Emirates ordering 95 Boeing and 15 Airbus planes, Air Baltic firming 30 additional A220-300s and Turkish Airlines signing a momentous deal for 220 Airbus aircraft in December. As reported in November, these deals are part of a record -breaking 2,370 aircraft orders placed with the two manufacturers in 2023.

As this year’s activity shows, there is industry-wide confidence in the future, with travel now back to pre-pandemic levels. This trend is likely to continue, even if demand might dampen slightly in response to a recession forecast in the US in the first half of 2024.

While the confidence on display is good ne...

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