Used Bizjet Market Stabilizing
Those in the market for a used business aircraft should be looking hard now. Bizjet manufacturers watch the used market like hawks because it's a major factor in the new market and they all seem to be reaching the same conclusion. Prices for late-model used aircraft have fallen as much as 30 percent in the past couple of years but there are now clear indications that prices are stabilizing and used inventory, while still plentiful, is drying up. "It means buy now, because those prices won't be around for very long as our economies and our business improves," Hawker Beechcraft executive VP Shawn Vick told the Wichita Eagle.
The Eagle quotes recent reports that show a Cessna Sovereign that sold for $16.2 million two years ago is going for $14.2 million and a Learjet 45 that might have fetched $7.8 million a few years back is going for about $4.8 million today. As always, there are caveats attached to the predictions and no one is expecting a rapid turnaround for the industry, but every bit of good news is being embraced. "We're excited to see it, and we're experiencing it," Cessna Aircraft spokesman Doug Oliver told the Eagle.